Philippine retail gaming provider DigiPlus Interactive Corp (DigiPlus), formerly known as Leisure and Resorts World Corp, recorded a net income of PHP 2.1 billion ($37.5 million) in the first nine months of the year, marking more than a tenfold increase from its year-ago level.
This significant growth was driven by the robust performance of its digital retail gaming segment, in conjunction with the launch of new game offerings and cost efficiencies achieved as the business continues to scale.
According to Monday’s filing with the Philippines Stock Exchange, DigiPlus’s revenues in the first nine months of the year nearly tripled, reaching PHP16 billion ($286 million), due to higher user traffic in its flagship live streaming bingo game, BingoPlus, and digital sports betting under ArenaPlus. These results were further propelled by aggressive advertising and promotion efforts. Meanwhile, EBITDA surged 390 percent from a year ago to PHP2.5 billion ($44.7 million).
In the third quarter alone, net income surged by 132 percent to PHP1 billion ($17.9 million) year-on-year, bolstered by the introduction of new digital games on both platforms. Revenues in the third quarter soared by 144 percent to PHP7 billion ($125 million). Additionally, EBITDA surged by 123 percent to PHP1.3 billion ($23.2 million).
Since entering the digital segment in January 2022, DigiPlus has built a robust user base across its digital ecosystem. In September, DigiPlus launched Color Game, a live streaming specialty game that replicates the traditional carnival experience. The Color Game is available on the BingoPlus and ArenaPlus platforms. In the coming months, DigiPlus will introduce new and innovative game offerings, including a card game, to cater to a broader demographic and various lifestyle preferences.
DigiPlus President Andy Tsui expressed optimism about the sustained growth momentum in their BingoPlus and ArenaPlus platforms, as well as the promising prospects for their new game offerings. He stated, ‘We are well-positioned to capture the opportunities in the digital entertainment space. We remain positive about our growth trajectory as we continue to execute our vision of using technology to unlock new forms of entertainment for Filipinos, accessible anytime and anywhere.’
