Tanco invests P1.04 billion more in DigiPlus

MANILA, Philippines — Tycoon Eusebio Tanco poured in P1.04 billion to hike his shareholdings in DigiPlus Interactive Corp., signaling his strong belief in the digital entertainment company’s further growth potential.

In a stock exchange filing, DigiPlus said Tanco purchased an additional 63.12 million shares, equivalent to 1.4 percent of the company’s total issued and outstanding shares, at P16.40 per share.

The company said transaction reflects Tanco’s strong conviction in DigiPlus’ disciplined growth strategy as it accelerates the scale of its platforms through deeply localized digital entertainment offerings built specifically for the Philippine market.

Tanco, who now owns 10.43 million direct shares and 712.62 million indirect shares in the company, said DigiPlus is entering an exciting phase of growth.

“We have built market-leading platforms anchored on responsible innovation, disciplined execution and long-term growth,” Tanco said.

“I firmly believe in our ability to capture the significant opportunities ahead and deliver enduring value to our shareholders. The fundamentals of the digital entertainment industry remain strong and DigiPlus is well-positioned to lead,” he said.

DigiPlus, which is behind BingoPlus, ArenaPlus and GameZone, currently has total registered users of over 40 million.

DigiPlus president Andy Tsui earlier told The STAR that the company is looking to hit the 50 million mark in terms of registered users this year.

In anticipation of a more robust regulatory environment, the company continues to strengthen its self-regulation efforts.

The company is reviewing and refining its advertising and marketing materials to ensure campaigns are responsibly designed and do not inadvertently reach youth or vulnerable sectors.

It is also enhancing its responsible gaming initiatives through educational campaigns, self-exclusion tools and partnerships with mental health professionals and financial literacy experts.

DigiPlus has likewise moved closer to expanding its offline footprint through the acquisition of a controlling stake in the parent firm of an integrated hotel and casino complex owner in Manila.

Last week, the company said the subscription agreement and the whitewash waiver has been approved by the International Entertainment Corp. (IEC), a company listed on the Stock Exchange of Hong Kong, following a meeting on Feb. 26.

“The whitewash waiver dispenses the obligation on the part of DigiPlus to make a mandatory general offer for all the shares and other securities of IEC, in case of conversion of IEC’s convertible notes,” DigiPlus said.

Conditions for the first completion of the subscription agreement have likewise been fulfilled.

Last November, DigiPlus signed a convertible notes agreement that carries the rights to acquire a controlling economic stake in IEC.

The subscription to convertible notes, amounting to approximately P12 billion, will be issued in two tranches.