DigiPlus Interactive Corp, the Philippines’ top online gaming operator, has announced a share buyback plan worth PHP 6 billion (approximately $105.75 million). As a gaming operator, they aim to maintain their market-leading position amid ongoing regulatory challenges.
In a disclosure on Monday, the company said it will run the repurchase program for 12 months. It may extend the program if the board approves. Although DigiPlus revealed the program today, its board of directors approved the move on July 4th.
DigiPlus plans to fund the buyback through its own cash flows. Chairman Eusebio Tanco emphasized the company’s confidence in its long-term prospects as a gaming operator.
“The share repurchase program shows our strong belief in DigiPlus’ growth potential and solid fundamentals,” Tanco said. “By strategically using our capital through this buyback, we’re proving our commitment to deliver sustainable returns for shareholders. Moreover, we are staying ready for future expansion and innovation in our role as a leading gaming operator.”
The company added that it continues to maintain a strong capital base.
This announcement comes amid heated debate in Congress over proposed partial or total bans on online gaming in the Philippines. Industry experts argue that strict bans could push players toward the black market.
Despite political uncertainty, DigiPlus recently reassured stakeholders. It will keep operating as usual, confident in its growth potential as a gaming operator.
