Philippine retail gaming provider DigiPlus Interactive Corp (DigiPlus), formerly known as Leisure and Resorts World Corp, has announced a return to profit, topping PHP436.8 million ($7.77 million) in the first quarter of the year, compared to a loss of PHP223.1 million ($3.97 million) in 1Q22, driven by ‘strong topline growth’ its retail games business.
The group also saw strong results from its BingoPlus segment, as well as a rebound of its electronic gaming operations and casino segment.
The increase pushed a turnaround in EBITDA from negative PHP151.1 million ($2.68 million) to positive PHP510.23 million ($9.08 million) in 1Q23.
Casino revenue was up by 54 percent yearly, to PHP102.3 million ($1.82 million), mainly drive by an ‘increase in operating capacity and sites’ operating hours’.
But the group’s bingo operations were it’s primary driver, with its ABLE arm seeing a 429 percent yearly increase in revenue, to PHP3.22 billion ($57.31 million) ‘mainly due to an increase in retail business operations and new licenses obtained from PAGCOR’.
The group was operating some 154 sites under ABLE at the end of the quarter.
ABLE received a new license to operate its BingoPlus product in January of last year.
Looking ahead, the group notes that it plans to ‘expand more physical sites in different areas, especially provincial regions’. It’s also planning to acquire more machines and ‘additional game offerings’ as well as more online games ‘to increase revenue and player retention’.
Regarding the machines acquisition, the group is purchasing from Aristocrat and Light & Wonder.
