Philippines gaming investor DigiPlus Interactive Corp, formerly known as Leisure & Resorts World Corp, said Tuesday that its Board of Directors has approved a reorganization to acquire all shares in its non-direct subsidiary, Gamemaster Integrated Inc.
Once fully under the DigiPlus umbrella, Gamemaster will become responsible for developing and operating DigiPlus’ new digital gaming platform, which will offer a variety of card games for users, the company said.
The transaction, it added, aims to streamline DigiPlus’ portfolio by consolidating its digital gaming platforms into direct subsidiaries to enhance synergies and efficiencies across its digital ecosystem.
“The transaction is in line with DigiPlus’ strategic direction to establish itself as a leading and one of the most innovative and technologically advanced digital entertainment groups in the Philippines,” the company said. “It is expanding its product offerings to cater to a broader range of demographics and lifestyle preferences.”
Gamemaster is currently directly owned by G-Boracay Land Holdings Inc., which is a wholly owned subsidiary of AB Leisure Global Inc., which in turn is a wholly owned direct subsidiary of DigiPlus.
DigiPlus will acquire 1,249,995 shares, representing 100% stake in Gamemaster from G-Boracay Land Holdings In. at par value of Php100 per share, representing a price of almost Php125 million (US$2.2 million).
DigiPlus, whose other interests include the leasing of slot machines and operation of slot arcades on behalf of PAGCOR, earlier this month revealed it would no longer actively pursue development of a US$500 million integrated resort on Boracay after its former partner, Macau’s Galaxy Entertainment Group, poured cold water on the idea.
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