DigiPlus Q1 income up by 370 percent year on year

DigiPlus Interactive Corp, a Philippine holding company with investments in gaming and leisure businesses including digital bingo and a digital sportsbook operation, increased its first-quarter net income attributable to shareholders by 370.2 percent year-on-year, reaching PHP1.99 billion from nearly PHP424.4 million in the same period of 2023.

For the three months ending March 31, DigiPlus’s consolidated revenue – primarily from retail games – rose by 226.3 percent to PHP13.63 billion, up from just under PHP4.18 billion in the first quarter of 2023.

This growth resulted mainly due to an increase in revenue from bingo and electronic games from retail, casino, and property segments, the firm stated in a Wednesday filing to the Philippine Stock Exchange.

DigiPlus’s first-quarter earnings before interest, taxation, depreciation, and amortization were just under PHP2.11 billion, marking a 312.8 percent increase from approximately PHP510.2 million in the first quarter of 2023.

We intend to sustain our growth momentum by continuing to invest in innovation and new technologies to enhance user experience and adding new digital offerings. By delivering innovative, fun, and accessible digital offerings, we aim to continue revolutionizing the entertainment space in the Philippines

Andy Tsui, DigiPlus President

The firm’s 100-percent owned AB Leisure Exponent Inc. has 128 land-based bingo venues, 116 of which were operational as of March 31. In 2022, it launched the online bingo service BingoPlus, the first traditional bingo product on a technology platform licensed by the Philippine Amusement and Gaming Corp (PAGCOR).

In February 2023, DigiPlus launched ArenaPlus, a new brand for its sports betting operations. DigiPlus unit Blue Chip Gaming and Leisure Corp operates casino slot arcades at four PAGCOR VIP clubs.

The parent group also owns 87.27 percent of First Cagayan Leisure and Resort Corp, responsible for licensing, regulating, and monitoring the operations of interactive gaming businesses on behalf of the Cagayan Economic Zone Authority (CEZA). CEZA has been issuing licenses for interactive gaming since 2001.

Formerly known as Leisure & Resorts World Corp, DigiPlus had until October 2023 been linked with a proposal to develop a casino resort on the holiday island of Boracay.

PAGCOR expects the nation’s gaming industry to generate PHP336.38 billion in gross gaming revenues this year, a 17.9 percent increase compared with 2023. The agency predicts that the electronically-delivered gaming segment will experience the fastest growth in 2024.

About 43.5 percent of PAGCOR’s PHP22.9 billion first-quarter revenue from gaming operations came from the e-Games sector, according to official data.

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