DigiPlus secures ₱3.0 billion loan from AUB to fund expansion
April 25, 2023
(The loan signing ceremony was held at Joy-Nostalg Hotel & Suites. Present during the ceremony were (left to right): Karla Andrea M. Ubalde, AUB FVP & Team Head, Accounts Management Group; Kristeen Ella M. Reyes, AUB SVP & Head, Investment Banking Group; Ernesto T. Uy, AUB EVP & Accounts Management Group Head; Andy Tsui, DigiPlus President; Jasper Vicencio, AB Leisure Exponent Inc. President; Wilfredo Pielago, DigiPlus CFO; Atty. Kristine Margaret Delos Reyes, DigiPlus Head of Legal & Compliance; Elias John Kukas, DigiPlus VP, Investment)
Leading retail gaming provider DigiPlus Interactive Corporation (DigiPlus), which operates BingoPlus, the first and only PAGCOR-licensed remote gaming platform in the country, is ramping up its presence in the retail gaming segment to capture the strong momentum around digital interactive entertainment products.
On April 18, 2023, DigiPlus signed a loan agreement amounting to ₱3.0 billion with Asia United Bank Corporation primarily to fund its capital expenditures for expansion of BingoPlus and onsite electronic gaming operations, among others.
DigiPlus launched BingoPlus in January 2022 as it made a strategic pivot amid the accelerated digital transformation triggered by the pandemic. Since then, BingoPlus has become a community and entertainment hub and a source of revenue for government in funding social and educational programs. The platform experienced rapid growth since its inception, with more than 1,700 jackpot winners since January 2022.
“The success of BingoPlus has paved the way for exciting opportunities in the country’s casual gaming and entertainment space. We aim to capitalize on this positive momentum by revolutionizing our users’ experience by investing in new technologies, introducing new and innovative products, and enhancing our quality of service. This loan financing is a significant milestone as we look to ground our leading position in the retail gaming industry of the country,” says Andy Tsui, President of DigiPlus.
In February 2023, the company announced the change in its corporate name to DigiPlus from Leisure and Resorts World Corporation to reflect its brand identity as an innovative, technologically advanced, and collaborative organization. Over the past 20 years, DigiPlus has established a solid track record of providing world-class multi-gaming platforms with a strong distribution network across the country.