Philippine listed company DigiPlus Interactive Corp said on Friday that the recent decline in stock prices may be related to "market speculation about the bill limiting online gambling." Previously, DigiPlus's stock price fell 13.9% on Thursday to close at 38.75 Philippine pesos per share, and fell another 9.0% on Friday to close at 29.5 Philippine pesos per share, with a total decline of over 40% in five days.
In response to inquiries from the exchange, DigiPlus noted that the market overreacted to the "Online Gambling Regulation Bill" and "Online Gambling Prohibition Bill" submitted to Congress on June 30. The company stated that these proposals are still in the early stages of legislation and have not yet become law, and regulatory changes are still uncertain.
The company emphasized that the "Online Gambling Regulation Bill" aims to improve responsible gambling standards and strengthen regulation, not a complete ban. Additionally, the Philippine Department of Finance and the Central Bank have recently expressed intentions to strengthen regulation of the gambling industry, with the Central Bank set to issue guidelines requiring banks and electronic wallet platforms to mitigate related risks.
DigiPlus is the parent company of digital platforms such as BingoPlus, ArenaPlus, and GameZone, and operates several slot machine parlors under the jurisdiction of PAGCOR. The company stated that operations are normal, continuing to focus on customer service and shareholder value creation.
Furthermore, DigiPlus revealed its international expansion plans, with the launch of online gambling operations in Brazil in September, and the establishment of an international subsidiary, DigiPlus Global Pte Ltd, in Singapore in May this year, serving as a global strategic hub. In June this year, Hu Jianguo took office as the group CEO, and Li Jiaqi as the Chief Digital Officer.
According to the financial report, DigiPlus's net income for the first quarter of 2025 was 4.2 billion pesos, with revenue growing 69.2% year-on-year to 230.6 billion pesos, demonstrating strong growth momentum. The company remains confident in its long-term growth prospects.
