DigiPlus seeks boost via P6B buyback

DigiPlus Interactive Corp., the operator behind BingoPlus, ArenaPlus, and GameZone, has approved a share repurchase program worth up to P6 billion to boost value. 

In a disclosure on Monday, the digital entertainment firm said the 12-month buyback program will cover common shares and may be renewed, with funding to come from internally generated cash flows. 

“The share repurchase program demonstrates our firm confidence in DigiPlus’ long-term growth and solid fundamentals,” DigiPlus chairman Eusebio Tanco said. 

“By strategically deploying our capital through this buyback, we are sending a clear signal that DigiPlus is committed to delivering sustainable returns for shareholders while remaining well-positioned to pursue expansion and innovation,” he added.

In 2024, DigiPlus posted a 207 percent jump in net income to P12.6 billion, driven by strong digital gaming growth, record revenues of P75.2 billion, and over 40 million active users.

DigiPlus prepares to launch digital entertainment operations in Brazil by September as part of its global expansion strategy. It will offer livestreamed games, slots, table games, and original content through a platform hosted on Amazon Web Services.