Eusebio Tanco, an education entrepreneur in the Philippines, has found success in the online gaming industry through his company DigiPlus Interactive. Formerly known as Leisure & Resorts World, the company shifted its focus to online bingo two years ago, leading to a significant increase in its stock value. With the country cracking down on illegal online gambling platforms, DigiPlus has managed to secure a 50% share of the online gaming market, resulting in a record revenue of 27.3 billion pesos in 2023.
The company’s net profit also soared to 4.1 billion pesos, prompting plans for further expansion and development. DigiPlus intends to invest up to 2 billion pesos in the coming year to introduce new games and enhance existing offerings like the sports betting site ArenaPlus and the online card game Tongits+. With a user base of 30 million users across digital platforms and over 140 physical sites nationwide, Tanco believes that DigiPlus is well-positioned to dominate the Philippine digital entertainment industry.
Amos Ong, an equity research analyst at CLSA Philippines, forecasts that DigiPlus’ revenue will more than double in 2024, with net profit expected to reach 7.3 billion pesos. Tanco’s net worth has also seen significant growth, increasing by over a third to $815 million. Despite his background in academia as the head of STI Education Systems Holdings, Tanco has proven his versatility and business acumen by successfully navigating the competitive online gaming market in the Philippines.
The success of DigiPlus highlights the potential for growth and innovation in the digital entertainment industry in the Philippines. As online gaming continues to gain popularity and acceptance, companies like DigiPlus are well-positioned to capitalize on the increasing demand for digital entertainment options. Tanco’s strategic approach to expanding DigiPlus’ offerings and investing in new games demonstrates a commitment to staying ahead of the curve and maintaining a competitive edge in the market.
With Tanco’s leadership and vision, DigiPlus is set to continue its impressive growth trajectory in the coming years, solidifying its position as a key player in the Philippine digital entertainment industry. As the company continues to evolve and adapt to changing market dynamics, it is poised to capture a larger share of the growing online gaming market in the country. The success of Tanco and DigiPlus serves as a testament to the endless opportunities available in the digital entertainment sector, making it an exciting and promising industry for investors and entrepreneurs alike.
