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DigiPlus reports net income ten times higher than previous year

November 8, 2023 Philippines iGaming & GamblingIndustry Updates

For the first nine months of the year, DigiPlus Interactive Corp, formerly Leisure and Resorts World Corp, recorded an astounding increase in net income, reaching PHP 2.1 billion ($37.5 million), more than ten times the previous year. The company’s exceptional performance in its digital retail gaming section, the launch of new game offerings, and cost savings gained as the business expands may all be attributed to this growth.

DigiPlus’s primary live streaming bingo game, BingoPlus, saw a surge in user traffic, while digital sports betting via ArenaPlus contributed to an almost fourfold increase in income to PHP 16 billion ($286 million) in the first nine months. Intense marketing and advertising campaigns contributed to the accomplishment of these goals. EBITDA reached PHP 2.5 billion ($44.7 million) after increasing by 390% annually.

The third quarter’s net income increased 132% year over year to PHP 1 billion ($17.9 million) as a result of new digital games being released on both platforms. In the third quarter, EBITDA jumped by 123% to PHP 1.3 billion ($23.2 million), while revenues increased by 144% to PHP 7 billion ($125 million).

Through its digital ecosystem, DigiPlus has amassed a sizable user base since entering the digital sphere in January 2022. Released in September, Color Game is a live streaming specialty game available on the BingoPlus and ArenaPlus platforms that resembles the traditional carnival experience. In the next months, DigiPlus plans to provide fresh and distinctive gaming alternatives, such as a card game, to cater to a wider demographic and range of lifestyle preferences.

President of DigiPlus Andy Tsui expressed enthusiasm for both the platform’s ongoing growth and the promising opportunities for their upcoming game releases. He stated that they are in a good position to take advantage of opportunities in the digital entertainment sector and that they are confident in their development trajectory as they keep using technology to provide Filipinos with new forms of entertainment that they can access from anywhere at any time.

Original story by: Asia Gaming Brief

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