Thursday, May 23, 2024
HomeNewsPhilippinesPSE-listed DigiPlus' market cap hits $1B this week

PSE-listed DigiPlus’ market cap hits $1B this week

FOLLOW US

After achieving the milestone of being the best-performing stock in the Philippine Stock Exchange (PSE) last year, the Philippine retail gaming provider DigiPlus Interactive Corp (DigiPlus) saw its market cap reach PHP59 billion, which is over $1 billion this week.

DigiPlus claimed the top spot on PSE, outperforming nearly 300 listed companies in terms of stock price growth last year. DigiPlus’s stock price increased by 232 percent throughout 2023, becoming the best-performing stock. This surge aligns with net income, which soared nearly 6-fold to PHP 4.1 billion ($73 million) in 2023.

DigiPlus, formerly known as Leisure and Resorts World Corp, with its traditional onsite bingo operation, its BingoPlus platform, and other e-games, accounts for over 90 percent of the company’s total revenue.

According to the company, the earnings in 2023 were buoyed by millions of Filipinos engaging in bingo, both in physical parlors and online.

DigiPlus’ subsidiary, AB Leisure Exponent Incorporated, is credited with pioneering bingo gaming in the Philippines. The company launched BingoPlus, also known as bingoplus.com, in January 2022, which now boasts 20 million registered users, marking four years since its inception.

The firm also rebranded its appearance this year, aiming to ‘multiply the fun’ and ‘unlock new forms of entertainment for Filipinos.’ The rebranding is part of the company’s transformation from gaming to digital entertainment, with new platforms like BingoPlus, ArenaPlus, and PeryaGame designed to cater to various demographics and lifestyle preferences.

“Our current rebranding efforts are focused on doing ‘more’ for our people, clients, and the Filipino people in general. We combine cutting-edge technologies to multiply the fun and happiness in people’s lives anytime and anywhere. This is us sharing the love, while sharing the luck,” said DigiPlus President Andy Tsui.

Viviana Chan
Viviana Chanhttps://agbrief.com/
Viviana Chan is an editor, interpreter, and journalist. With over a decade of experience, she writes in English, Chinese, and Portuguese. Viviana started her career in Macau-based newspapers, where she became passionate about the region's social, financial, and cultural development. Her writing focuses on the economy, emerging industries, gaming development, political affairs, and cross cultural-exchange in the business and cultural domains. She is avid for news and eager to discover and cover stories that generate public relevance.

RELATED ARTICLES