DigiPlus Interactive Corp., listed on the Philippine Stock Exchange, has seen its shares rise by 151 percent this year as of Wednesday. This growth surpassed all other casino stocks with a market value over $1 billion.
Over the past two years, investors have driven the stock to increase twelvefold. This surge resulted from a major shift to online operations during the pandemic. In 2023, DigiPlus ranked as the best-performing company on the Philippine Stock Exchange (PSE). It outperformed nearly 300 other listed companies in terms of stock price growth.
DigiPlus, a digital entertainment group, is leveraging its strong position in the domestic online gaming market. According to the latest financial results, DigiPlus reported a net income of PHP5.2 billion ($90.8 million) for the first half of 2024. This figure marks a 377 percent increase from PHP1.1 billion ($19.2 million) in the same period the previous year.
Moreover, revenues surged 263 percent to PHP32.5 billion ($567.7 million). Meanwhile, EBITDA reached PHP5.5 billion ($96.1 million), representing a 336 percent increase compared to the previous year.
The company formerly operated as Leisure & Resorts World Corp., focusing mainly on bingo halls. It rebranded and shifted its focus to attract tech-savvy younger players with disposable income.
DigiPlus drives its sustained profit momentum through the strong performance of its digital retail segment. Additionally, it benefits from the rationalization of revenue sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games, which took effect in April 2024.
Although local lawmakers recently banned Philippine Offshore Gaming Operators (POGOs), this ban has not impacted DigiPlus’s business. However, lawmakers are now considering potential regulations on local online gambling due to concerns about its social impact.
Meanwhile, DigiPlus is actively pursuing international expansion. The company recently applied for a gaming license in Brazil to grow its global footprint.
