Gaming company DigiPlus says profit rises to P4.1 billion

LISTED digital gaming company DigiPlus Interactive Corp. said its net income increased almost six times to P4.1 billion last year, driven by its digital retail segment and new platforms.

The company’s 2023 revenues climbed over three times to P27.3 billion on higher user traffic in bingo platform BingoPlus and sportsbook ArenaPlus, as well as the contribution of its new digital offerings, DigiPlus said in a regulatory filing on Tuesday.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) expanded nearly fivefold to P4.8 billion in 2023.

DigiPlus saw its net income for the fourth quarter rise by almost four times to P2 billion, while revenues grew by over three times to P11.3 billion. The company’s EBITDA also expanded nearly fivefold to P2.3 billion.

The performance was attributed to the company’s Color Game, which was launched in September last year. It is a livestreaming specialty game that mirrors the traditional Filipino carnival game.

DigiPlus has also introduced other games such as BingoPlus Poker, which offers card games in the digital space, and TongitsPlus, a social game that offers the card game without wagering real money. “We are pleased to see the sustained growth momentum across our digital offerings as we aim to usher a new era of entertainment in the space,” DigiPlus President Andy Tsui said.

“We continue to be optimistic about the prospects for the company as we invest in new technologies and product development to deliver innovative, fun, affordable and accessible digital offerings that are traditionally well-loved by Filipinos,” he added.

On Tuesday, DigiPlus shares rose by 0.2% or two centavos to P10 apiece.