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Manila Bulletin devider Business devider The Stock Market devider DigiPlus plans to invest up to ₱3 billion in expansion, including Brazil launch

DigiPlus plans to invest up to ₱3 billion in expansion, including Brazil launch

Published Feb 16, 2025 09:40 pm

Tanco-led online gaming firm DigiPlus Interactive Corporation is allotting ₱2.5 billion to ₱3 billion for capital expenditures for the expansion of its business in the Philippines as well as its new venture to Brazil this year.

According to DigiPlus Vice President for Investor Relations Celeste Jovenir, the amount covers the initial spending for the Brazil venture that the company is firming up in time for a fourth-quarter launch.

“Aside from the ₱660 million initial investment in Brazil, it includes maintenance capex - IT infrastructure upgrade, facilities renovation. This is already funded,” Jovenir said.

These capital expenditures come at a time of growth for e-gaming in the Philippines, with stockbroker Unicapital Securities noting the “rising contribution” of other licensees to the Philippine Amusement and Gaming Corporation’s (Pagcor) gross gaming revenue, which “jumped from 20 percent in 2023 to 42 percent in the first nine months of 2024.”

“This growth is largely fueled by the rapid expansion of e-gaming activities and the increasing adoption of digital betting apps,” the stock brokerage said.

In the case of DigiPlus, Unicapital noted that the company continues to enjoy an upside in its domestic operation, given its expanding monthly active betting users.

“Looking ahead, DigiPlus has an additional long-term catalyst in 2026 with its planned entry into Brazil’s online betting market in the fourth quarter of 2025. If successfully executed, this expansion could provide DigiPlus’ new revenue streams,” Unicapital said.

DigiPlus Chairman Eusebio Tanco expressed optimism of continued growth in the company’s user base after closing 2024 at 40 million, double the 20 million recorded in 2023.

“It will improve to a certain extent, but maybe not at the rate we have now,” Tanco said, adding that the Brazil venture will also be key to this growth.

For its Brazil venture, DigiPlus is leveraging on its online platform ArenaPlus.

Last month, the company secured one of the licenses to operate sports betting and online games up for grabs in Brazil through unit DigiPlus Brazil Interactive Ltda.

The license allows DigiPlus to operate land-based and online sports betting, electronic games, live game studios, and other fixed-odds betting activities in the soccer-crazed Portuguese-speaking country.

Related Tags

Eusebio Tanco DigiPlus Interactive Corp. (DigiPlus) Celeste Jovenir
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