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HomeNewsPhilippinesDigiPlus reports 6-fold income growth in 2023, driven by Bingo games

DigiPlus reports 6-fold income growth in 2023, driven by Bingo games

Philippine retail gaming provider DigiPlus Interactive Corp (DigiPlus) recorded PHP 4.1 billion ($73 million) in net income in 2023, marking more than a 596 percent increase from its year-ago level.

In 2022, DigiPlus reported a net income of only PHP 686.8 million ($12.2 million), contrasting starkly with the net loss of PHP 894 million ($15.9 million) suffered during the pandemic year of 2021.

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.

“Revenues soared 306 percent to PHP27.3 billion in 2023 on higher user traffic in its flagship bingo platform BingoPlus and sportsbook ArenaPlus, lifted by the contribution of new digital offerings,” DigiPlus said.

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.

BingoPlus holds the distinction of being the Philippines’ premier livestreaming bingo platform, licensed exclusively by the state-owned Philippine Amusement and Gaming Corporation (PAGCOR).

DigiPlus asserts that its bingo platform dominates the digital bingo market in the country, capturing a 31 percent share.

In addition, BingoPlus has over 140 physical bingo sites throughout the country. DigiPlus’s stock price increased by 232 percent throughout 2023, becoming the best-performing stock on the Philippine Stock Exchange (PSE).

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.

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