How 'Renaissance Man' Eusebio Tanco wagered on digital gaming and built the Philippines' largest online operator

In January 2022, as the Philippines battled record Covid-19 infections, DigiPlus Interactive, then known as Leisure & Resorts World, was struggling. Two years of restrictions had largely shut down its network of 163 bingo halls and gaming cafes, leaving the company with more than 2 billion pesos (US39 million at the time and about $117 million now) in accumulated net losses.

"We needed to do something," Tanco, its 76-year-old chairman, told Forbes. "The pandemic accelerated our move to go online."

The company then launched BingoPlus, an interactive gaming platform built from scratch to complement its idle bingo slot machines.

The gamble paid off. DigiPlus returned to profit in 2022 with net income of 600.7 million pesos, then expanded beyond bingo into sports betting, casino-style games and other digital entertainment through platforms including ArenaPlus and GameZone.

By 2024, DigiPlus had become the Philippines' largest online gaming company by gross gaming revenue, the amount wagered minus winnings paid to players. It had more than 40 million registered users and posted net income of 12.6 billion pesos, more than triple the previous year's figure.

It retained its market-leading position in 2025, when sales reached a record 83.1 billion pesos ($1.3 billion).

Even Tanco had underestimated how quickly the online business would grow. "We didn't expect it to become that big that quickly," he said.

The company's rise also propelled Tanco into the billionaire ranks. He entered Forbes' World Billionaires list in 2025 with an estimated net worth of $1.2 billion, becoming the only newcomer from the Philippines that year.

His fortune has since fallen alongside DigiPlus shares, with Forbes ranking him the Philippines' 20th-richest person in 2026 with a net worth of $735 million.

Filipino tycoon Eusebio Tanco. Photo from Asian Terminals

From Chinese roots to 'Renaissance man'

Tanco grew up as the eldest of seven children. His father, Agustin Tanco, was a naturalized Filipino originally from Fujian, China, who began as a cement and metal trader before moving into textile manufacturing and later insurance.

Tanco said his father gave him considerable freedom to choose his own path. He studied economics at Ateneo de Manila University before earning a master's degree in economics from the London School of Economics and Political Science in the U.K.

After returning to the Philippines in 1973, he joined the family's insurance and textile businesses.

He bought an integrated textile mill in the late 1970s, believing manufacturing was important to the country's economic development. Within a decade, however, he shut it down after concluding that high electricity costs, labor expenses and reliance on imported raw materials made the business uncompetitive.

"I thought I was getting ahead with my integrated mill," he recalled. "It was a mistake."

Rather than remain committed to an unsuccessful venture, Tanco changed course, a pattern that would recur throughout his career. He moved into ports, investing in Asian Terminals, one of the Philippines' major port operators, during the privatization of Manila South Harbor in the early 1990s and later serving as its president.

He also built STI Education Systems Holdings into one of the country's largest private education networks, while his business interests expanded into insurance, healthcare, logistics, real estate, financial services and other sectors.

Over the years, Tanco has been at the helm of more than 40 companies across multiple industries, earning him the nickname of a "Renaissance man," according to Philippine newspaper BusinessWorld.

Education remains one of the businesses closest to him. STI's network serves more than 130,000 students, and Tanco has pushed for financial literacy to be incorporated into its education. "Education is the best equalizer to economic disparity," he said.

That emphasis on financial literacy also shapes his approach to online gambling. Tanco has said DigiPlus does not lend customers money to gamble and encourages players to wager only what they can afford. "We never encourage people to bet irresponsibly. You bet what you can afford. Use your own money but don't borrow to bet," he told The Philippine Star.

'Just decide'

For all the industries he has entered, Tanco's family and longtime associates describe a relatively simple philosophy behind how he operates: make a decision, learn from it and change course when necessary.

His son Joseph Augustin Eusebio "Jaeger" Tanco, who runs the family's insurance and healthcare businesses, said his father's most important advice has been to "just decide."

"Whether good or bad, it's better to make a decision than not at all," Jaeger, 45, said.

Longtime friend and business partner Nick Jacob has described Tanco as having an "eternal curiosity for things new, untried and untested," and as comfortable venturing into businesses outside his existing expertise.

His son also said Tanco actively seeks opportunities to learn from people with different expertise.

"Dad doesn't think of himself as the smartest or the expert in the room. I think this is one of the traits I admire about him the most. It’s also one of the things I try to do myself as I run some of our businesses," Jaeger told Philippines' BusinessWorld in 2022.

Betting on DigiPlus' next chapter

That willingness to seek expertise rather than master every detail himself has become increasingly important as DigiPlus transforms from a traditional gaming company into a technology-driven business.

The company has hired software engineers from China and brought in senior executives with backgrounds in software, finance and digital platforms. Tanco is also exploring a broader superapp that could eventually combine entertainment with services such as e-commerce and insurance.

Technology might appear an unlikely focus for a businessman who spent his early career in textiles and insurance, but those around Tanco say his willingness to follow changing consumer behavior has long distinguished him.

"It’s uncommon for someone at my dad’s age to know anything about digital or about the needs of the younger market, like the Gen Zs," Jaeger said. "With my dad, you’ll be surprised at how he remains up to date with trends and innovations."

Tanco's businesses had already moved into areas including data science, cloud computing, digital healthcare and online services before DigiPlus' transformation accelerated during the pandemic.

At DigiPlus, that instinct was applied on a much larger scale. The company capitalized on the rapid adoption of smartphones and mobile wallets in the Philippines, shifting the center of its gaming business from physical venues to customers' phones.

Tanco is now trying to take that model overseas.

DigiPlus secured an online gaming license in Brazil and in April received three licenses in South Africa's Western Cape, clearing the way for its second international market. The company is targeting emerging markets rather than established gambling centers such as the U.K. and U.S., where competition and entry costs are much higher.

"We're looking at many more markets. We won't end with Brazil," Tanco said.

The strategy carries risks. DigiPlus temporarily halted its Brazilian platform shortly after its initial launch to adapt the service to local customers, while some investors have argued that its greatest opportunity remains in the Philippines.

But changing course when circumstances demand it has defined much of Tanco's career.

"There's still so much we can do," Tanco said. "We're creating a whole ecosystem, not just gaming."