Philstar
DigiPlus spent P117-M to slow the bleeding
DigiPlus Interactive Corp. has begun a P6-billion share buyback program, repurchasing 3 million shares worth P117.74 million on July 10, 2025, to stabilize its stock after a sell-off.
The company's stock experienced a decline, closing the previous trading week down by 4.3%, with trading value on some days exceeding P2 billion.
The buyback was initiated following proposed legislation by Senator Sherwin Gatchalian aimed at curbing online gambling, particularly among low-income households.
Senator Gatchalian's proposed bill includes a P10,000 minimum top-up threshold and seeks to prohibit e-wallet services from facilitating gambling payments.
In response to regulatory actions, the Philippine Amusement and Gaming Corp. has ordered the removal of online gambling billboards, including those of DigiPlus' BingoPlus.
Fintech Alliance Philippines has pledged to enhance safeguards and due diligence to restrict gambling access via digital payment platforms.
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DigiPlus Interactive Corp. announced a P6-billion share buyback program, valid for 12 months and renewable, to be funded by internally generated cash flows.
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DigiPlus Interactive Corp. experienced its second-worst day on record on Wednesday, with its stock price dropping 20.4% due to fears of a potential ban on online gambling.
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