Philippines-based gaming company DigiPlus Interactive Corp. has reassured its shareholders and customers that the recent POGO ban announced by President Marcos Jr. will not impact its operations. In a statement, DigiPlus President Andy Tsui emphasized that the company does not fall under the categories affected by the ban, distinguishing itself from POGO and Internet Gaming Licensees (IGL) as defined under Philippine laws.
Key Distinctions and Regulatory Compliance
DigiPlus clarified its position by explaining its compliance with local regulations, which necessitate a physical presence in the Philippines before establishing online gaming platforms. This regulatory adherence ensures that DigiPlus operates within the legal framework set by the Philippine Amusement and Gaming Corporation (PAGCOR).
“We are a local gaming operator, and it is a requirement for us to have a physical site in the country before setting up our online gaming platform operations,” stated Tsui. This distinction underscores the company’s commitment to regulatory compliance and its strategic operational structure.
Diverse Gaming Offerings
DigiPlus has secured licenses to operate a wide range of gaming services. These include traditional bingo, electronic bingo games, electronic gaming services, sports betting, specialty games, and poker. The company’s flagship online bingo platform, BingoPlus, operates 24/7, providing continuous service to its majority Filipino customer base. Additionally, DigiPlus offers other popular online games such as ArenaPlus, Perya Game, and BingoPlus Poker.
Industry Impact and Concerns
The announcement of the POGO ban has raised concerns among various stakeholders, including PAGCOR representatives, about the potential economic impact. The ban could lead to significant revenue losses for the state, and there are questions about its effectiveness in curbing illegal gaming operations.
Regulatory Compliance and Strategic Positioning:
DigiPlus’s adherence to local regulations and its physical presence requirement for online operations highlight its strategic positioning within the legal framework. This compliance not only ensures uninterrupted operations but also reinforces the company’s credibility and stability in the market.
Market Differentiation
By differentiating itself from POGO and IGLs, DigiPlus effectively distances its brand from the controversies and regulatory challenges associated with these entities. This distinction could enhance customer trust and loyalty, given the regulatory scrutiny and potential legal risks surrounding POGOs.
Economic Resilience
The diverse range of gaming services offered by DigiPlus, including traditional and electronic bingo, sports betting, and specialty games, showcases the company’s adaptability and resilience in a dynamic market. This diversification can mitigate risks associated with regulatory changes and market fluctuations.
Stakeholder Assurance
By promptly addressing the POGO ban and clarifying its unaffected status, DigiPlus demonstrates proactive communication with its stakeholders. This transparency is crucial for maintaining investor confidence and customer trust, particularly in times of regulatory uncertainty.
Future Outlook
DigiPlus’s strategic focus on regulatory compliance and market diversification positions the company well for sustained growth. As the Philippine gaming industry continues to evolve, DigiPlus’s ability to navigate regulatory challenges while expanding its service offerings will be critical to its long-term success.
Furthermore, the company’s emphasis on maintaining a physical presence in the Philippines aligns with the broader industry trend towards enhanced regulatory oversight and consumer protection. This approach not only ensures legal compliance but also fosters a secure and reliable gaming environment for customers.
DigiPlus Interactive Corp. has effectively communicated its unaffected status amidst the POGO ban, highlighting its strategic positioning and regulatory compliance. By differentiating itself from affected entities and emphasizing its diverse gaming offerings, DigiPlus reinforces its resilience and adaptability in the Philippine gaming market. As the industry navigates regulatory changes, DigiPlus’s commitment to compliance and stakeholder assurance will be key drivers of its continued success.