DigiPlus Interactive Corp, a key player in the Philippines’ digital gaming and leisure space, reported a massive boost in its first-quarter net income. For the period ending March 31, the company recorded a 370.2% increase. It reached PHP1.99 billion, up from nearly PHP424.4 million during the same quarter in 2023.
Moreover, the company’s consolidated revenue jumped 226.3% year-on-year. It soared to PHP13.63 billion from just under PHP4.18 billion. This impressive growth stemmed primarily from rising revenues across its digital bingo, electronic games, casino, and property segments.
In its filing with the Philippine Stock Exchange, DigiPlus confirmed that bingo and e-games served as the primary revenue drivers for Q1. With continued momentum, the company’s EBITDA surged 312.8%, totaling nearly PHP2.11 billion compared to PHP510.2 million last year.
President Andy Tsui shared that the company intends to sustain this strong performance by consistently investing in innovation and digital offerings. “We will keep enhancing user experience and expanding our platform with fun and accessible products,” he said.
Through its subsidiary AB Leisure Exponent Inc., DigiPlus operated 116 active land-based bingo venues by the end of March 2024. Its flagship digital product, BingoPlus, remains the first PAGCOR-licensed traditional bingo on a tech platform.
Further boosting growth, DigiPlus launched ArenaPlus in February 2023. This new brand focuses on digital sports betting. Meanwhile, its unit Blue Chip Gaming and Leisure Corp runs casino slot arcades in four PAGCOR VIP clubs.
DigiPlus also owns a majority stake in First Cagayan Leisure and Resort Corp, which regulates interactive gaming for CEZA. Notably, CEZA has issued iGaming licenses since 2001. This gives DigiPlus a strong regulatory foothold.
The Philippine Amusement and Gaming Corp (PAGCOR) forecasts PHP336.38 billion in national gaming revenue for 2024. This represents a 17.9% increase year-on-year. Moreover, PAGCOR projects e-Games to experience the fastest growth. Already, 43.5% of its Q1 2024 gaming income comes from this sector.
