Gaming firm DigiPlus buyback program so far redeems a fraction of P6-B target
Manila, Philippines – Listed online gaming company DigiPlus Interactive Corporation initially faced lukewarm response from its shareholders in a P6-billion buyback program meant to shore up its share price after last week’s heavy beating.
In a stock exchange filing on Friday, DigiPlus, formerly Leisure and Resorts World Corporation, said it has so far redeemed P117.74 million worth of shares (covering three million shares), just a fraction of the P6-billion it allotted for the repurchase bid that targeted 4.52 billion outstanding shares.
The company announced the buyback program on July 4 after a freefall that saw its shares plunge by as deep as 23.87 percent to P29.50 each.
At that time, DigiPlus told the stock exchange that it “attributes this to market speculation following the filing of the Online Gambling Regulatory bill and Online Gambling Prohibition bills at the Senate and House of Representatives since June 30, 2025,” referring to the proposed legislation of Senator Sherwin Gatchalian to better police gambling.
Gaming companies during the past days have seen the unwinding of other tighter measures with the Philippine Amusement and Gaming Corporation (PAGCOR) directing the dismantling of online gambling billboards.
The company had hoped that the P6-billion redemption plan would send “a clear signal that DigiPlus is committed to delivering sustainable returns for shareholders while remaining well-positioned to pursue expansion and innovation,” DigiPlus said in a disclosure dated July 4.
Following that July 4 buyback announcement, DigiPlus shares rallied for four straight days to as high as P39.50 each, but still way below its 30-day high of P65.30 apiece.
Still, the move allowed the gaming company to redeem its own stock at a cheaper price with the P117 million covering three million shares suggesting that the stock was bought back at an average P39.25 each.
DigiPlus shares were last traded at P37.80 apiece. It was the second most active stock traded on Friday.
Through its fully-owned Total Gamezone Xtreme, Inc., the listed gamer has indirect stakes in Digiwave Solutions, which is the operator and licensee of PAGCOR eGames stations.
