DigiPlus records $73 million net income in 2023

The Philippine retail gaming provider DigiPlus Interactive Corp (DigiPlus) revealed a remarkable increase in net income for 2023, reaching PHP 4.1 billion ($73 million), a startling jump of more than 596 percent over the year before.

This stands in stark contrast to the substantial net loss of PHP 894 million ($15.9 million) sustained during the pandemic-plagued year of 2021 and the net gain of PHP 686.8 million ($12.2 million) in 2022.

More than 90% of DigiPlus’s revenue is derived from its BingoPlus platform, traditional onsite bingo operations, and other e-games. DigiPlus was originally known as Leisure and Resorts World Corp.

The firm ascribed its robust profitability in 2023 to the extensive involvement of millions of Filipinos in bingo, via both traditional and virtual parlors.

DigiPlus said that its revenue for 2023 climbed by 306 percent to PHP 27.3 billion, mostly due to higher user traffic on its primary platforms, BingoPlus and ArenaPlus, as well as the introduction of new digital services.

Bingo games were first introduced in the Philippines by AB Leisure Exponent Incorporated, one of DigiPlus’s firms. Launched in January 2022, BingoPlus (bingoplus.com) has amassed 20 million registered players in only four years, solidifying its status as the top live streaming bingo platform in the Philippines. It is solely licensed by the Philippine Amusement and Gaming Corporation (PAGCOR), a state-owned company.

With a 31% market share in digital bingo, DigiPlus is the industry leader in the Philippines. It also runs more than 140 conventional bingo halls around the nation.

Additionally, in 2023, DigiPlus’ stock price surged by 232%, making it the top-performing firm on the Philippine Stock Exchange (PSE).

Original story by: Asia Gaming Brief