DFNN on way to recovery

MANILA, Philippines — Listed gaming technology firm DFNN Inc. said it is on its way to recovery with a strategy in place focusing on both financial rehabilitation and operational growth.

DFNN said it has initiated the process to increase its authorized capital stock, enabling it to convert debt to equity and significantly reduce financial liabilities moving forward.

As part of its recovery strategy, DFNN has also successfully raised capital via private placements amounting to P450 million.

The amount was allocated to settle existing obligations, investment in cybersecurity and artificial intelligence (AI) as well as cover regulatory listing expenses.

DFNN said that a major part of the company’s forward-looking plan centers on the scaling of its business verticals, including the launch of LottoMatik.

DFNN has partnered with the Philippine Charity Sweepstakes Office to launch LottoMatik, a platform aimed at digitalizing and modernizing the lottery experience to reach underserved markets nationwide.

The company wants LottoMatik to achieve deployment parity with existing land-based lotto outlets, expanding its footprint to match traditional distribution channels and serve a wider segment of the population.

On the technology front, DFNN said that subsidiary iWave continues to build on its strengths in biometric systems, AI, unified messaging and Internet of Things.

Its e-gates solution is expected to play a critical role in the company’s projected 2025 rebound.

DFNN said the rollout of the e-gates system is strategically aligned with the scheduled rehabilitation of NAIA Terminals 1 and 3, where the system will be installed.

The company said  the timeline reflects its coordination with airport authorities and infrastructure readiness, ensuring operational deployment within the year.

“We remain confident that the outlined strategies form a solid foundation for DFNN’s continued viability and growth in the years ahead,” DFNN president and CEO Ricardo Banaag said.

DFNN has reported negative stockholders’ equity in its financial periods ended Sept. 30,2024, Dec. 31, 2024 and March 31, 2025.

The Philippines Stock Exchange Inc. mandates listed companies with negative stockholders’ equity to implement a plan to address such deficiency.

DFNN is a publicly listed company committed to advancing innovation, transforming industries and creating positive impact.

Last year, DFNN also formalized a strategic joint venture agreement with Spain’s CIC Consulting Informático that is “poised to create endless opportunities in the technology sector.”

The collaboration aims to penetrate new markets, capture market share and deliver innovative products and services that meet the evolving requirements of businesses and investors.