DigiPlus, Bloomberry open higher after Sona silence

MANILA, Philippines – Top gaming stocks DigiPlus Interactive Corp. and Bloomberry Resorts Corp. rallied upon opening on Tuesday after President Marcos made no mention of a ban on online gaming during his fourth State of the Nation Address (Sona).

DigiPlus opened higher by 16 percent to P37.30 per share, representing a 91-percent recovery from its recent low of P19.52 per share on July 17, when it took a hit from mounting calls for an outright ban on online gambling.

READ: DigiPlus looks forward to PSEi inclusion

Despite the noise, DigiPlus chair Eusebio Tanco said it was business as usual for the company behind popular games like BingoPlus and ArenaPlus.

The tycoon highlighted DigiPlus’ responsible gaming efforts during their recent annual stockholders meeting, lamenting that the company was “behaving.”

“We follow rules. We’re legal. We pay all the taxes we need to pay. Why us?” Tanco said of the calls for a ban.

Still, DigiPlus is banking on its Brazil expansion to boost its prospects as the mood dampens at home. It is also planning to enter South Africa, where it plans to apply for a license to operate.

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Bloomberry, which recently launched MegaFUNalo, touted as DigiPlus’ rival, also opened higher by 3 percent to P4.7 per share.

Mr. Marcos did not make any mention about online gambling during his Sona on July 28, instead focusing on lambasting politicians who supposedly neglected flood control projects, resulting in the recent devastating floods across Luzon.