Digital entertainment group DigiPlus Interactive Corp. (DigiPlus) has reported a net income of PHP3.2 billion ($55.9 million) in the second quarter of 2024, a considerable 389 percent increase from the same period a year ago.
According to the group, the sustained profit momentum was fueled by the robust performance of its digital retail segment, combined with the rationalization of revenue sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games, implemented in April 2024.
Revenues jumped 295 percent from the previous year’s level, reaching PHP18.9 billion ($330.3 million), driven by higher user traffic and the introduction of new game offerings. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also surged 351 percent year-on-year to PHP3.4 billion ($59.4 million).
For the first half of 2024, DigiPlus registered a net income of PHP5.2 billion ($90.8 million), a staggering 377 percent increase from PHP1.1 billion ($19.2 million) in the same period a year ago.
Revenues jumped 263 percent to PHP32.5 billion ($567.7 million), while EBITDA reached PHP5.5 billion ($96.1 million), a 336 percent jump from the previous year.
“The first semester was encouraging for DigiPlus […] By optimizing user engagement through personalized experiences and diversifying our content offerings, we believe we are poised to capture the strong growth of the digital entertainment industry”, said DigiPlus Chairman Eusebio Tanco.
In the first half of 2024, the company paid PHP15.1 billion ($263.7 million) in taxes and fees to the national government and provided jobs to over 3,300 employees across the Philippines.
The group also stated recently its operations will remain unaffected by the announced ban on offshore online gaming operators in the country.
