DigiPlus earnings up 358% on more online bettors

MANILA, Philippines — Digital gaming firm DigiPlus Interactive Corp. saw earnings in the first three months of the year surge by 358 percent to P2 billion on the continued growth of its retail segment.

DigiPlus on Wednesday said revenues also ballooned by 226 percent to P13.6 billion as user traffic in flagship platforms BingoPlus and ArenaPlus grew.

Earnings before interest, taxes, depreciation, and amortization likewise swelled by 313 percent to P2.1 billion, DigiPlus said in a stock exchange disclosure.

“We intend to sustain our growth momentum by continuing to invest in innovation and new technologies to enhance our user experience and adding new digital offerings traditionally well-loved by Filipinos,” DigiPlus president Andy Tsui said in their filing.

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Tsui earlier said they were planning to spend up to P2 billion this year to further expand the company’s digital offerings.

DigiPlus’ other games include BingoPlus Poker, a digital version of the popular card game, and TongitsPlus, a newly launched social media game mirroring another famous Filipino pastime that the company claimed could be played “without wagering real money.”

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DigiPlus currently has around 20 million players. Tsui previously said they wanted to attract 5 million to 10 million additional users this year as they sought to launch more games to diversify their online gambling portfolio.

According to Tsui, their market consists of players aged 30 to 45 who use their disposable income for online betting.

“By delivering innovative, fun, and accessible digital offerings, we aim to continue revolutionizing the entertainment space in the Philippines,” he said. —MEG J. ADONIS INQ