On the same day as its shares suffered their second-biggest single day fall, leading Philippines gaming technology firm DigiPlus Interactive Corp has warned that a total ban on online gaming operations in the country would do little to alleviate concerns around the industry.
As reported by the Inquirer, DigiPlus shares dived by 20.4% to Php27.90 on Wednesday, coming less than two weeks after the company’s largest single day fall of 23.9% on 4 July. This latest decline comes on the back of confirmation from President Ferdinand Macros Jr that he is weighing up whether or not to impose a total ban on all online gambling operations amid pressure from anti-gambling politicians.
In a statement posted on its website, DigiPlus said it “urges policymakers to weigh the consequences of a total ban” with the “experience of other countries [having] shown that banning licensed platforms does not eliminate demand for online gaming but merely shifts users to unregulated black markets where there are no protections, no taxes and no accountability.
“In contrast, a well-regulated environment can protect players, generate billions in government revenue and sustain over 40,000 jobs across tech, marketing, entertainment, customer service and compliance,” it said.
DigiPlus Chairman Eusebio Tanco added, “We believe regulation is the path to player protection. It’s the only way to safeguard players, preserve jobs and close the door on illegal, underground platforms that operate without any oversight.
“With the right rules in place, the Philippines can be a model for safe, transparent online gaming in Asia. We are ready to work hand-in-hand with regulators, legislators and community groups to make that vision real.”
DigiPlus, which operates online gaming sites BingoPlus, ArenaPlus, and GameZone and is a provider of back-end support for other operators, explained that many of the safeguards being proposed by those senators looking to better regulate online gaming rather than ban it entirely are already embedded across its platforms – including “strict Know-Your-Customer (KYC) verification … responsible gaming features such as deposit limits, self-exclusion options and cooling-off periods”.
Adding that it is also rolling out new initiatives around affordability checks, behavioral nudges to curb excessive gaming and referral pathways to licensed mental health experts, the company said, “These measures are not reactions to regulatory pressure, but part of a multi-year strategy to build a responsible gaming ecosystem. The company invests in data science, player support systems and compliance technologies precisely because it believes the future of gaming depends on trust and transparency. That is why it fully supports updated legislation, particularly around stronger penalties for illegal operators and clearer advertising standards.”
Philippine gaming regulator PAGCOR has already called for all out-of-home online gambling advertising to be removed by operators and this week signed an MoU requiring the Ad Standards Council to approval all gambling advertising before it can be made public.
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