Gaming firm DigiPlus Interactive Corp. said it earmarked up to P3 billion for 2025 capital expenditures primarily to support its expansion plans here and abroad.
DigiPlus vice president for investor relations Celeste Jovenir said the amount covers the initial spending for the Brazil venture, which the company is finalizing in preparation for a fourth-quarter operation.
“Aside from the P660 million for the initial investment in Brazil, it includes maintenance capex—IT infrastructure upgrades, and facilities renovation. This is already funded,” Jovenir said.
DigiPlus earlier secured an online gaming license in Brazil, as one of the fastest-growing gaming markets in Latin America, given its population of over 200 million and internet penetration at 87 percent.
Stockbrokerage firm Unicapital Inc. included DigiPlus as one of its top stock picks this year as the company is expected to benefit from the rapid growth of e-gaming in the Philippines.
Unicapital revised its target price for DigiPlus to P31.10 per share from an earlier estimate of P28.70.
“The updated target price reflects the firm’s strong nine-month 2024 results, where net income already exceeded our previous full year forecast of P7.9 billion. The outperformance led us to reassess and adjust our valuation to better reflect he latest figure,” Unicapital said.
Unicapital said its entry into the Brazil’s online betting market by the fourth quarter of the year would be an additional catalyst for the company.
“If successfully executed, this expansion could provide DigiPlus with new revenue streams,” it said.
DigiPlus chairman Eusebio Tanco expressed optimism last month for continued growth in the company’s user base after closing 2024 with 40 million users, double the 20 million recorded in 2023. Jenniffer B. Austria
“It will improve to a certain extent, but maybe not at the rate we have now,” Tanco said.
Tanco said the company is also looking at other markets for expansion overseas.
