Digital gaming boom boosts DigiPlus earnings
Photo from Bingo Plus/FACEBOOK
Listed online gaming platform DigiPlus Interactive Corp. saw its first semester earnings surge by nearly 400 percent as its digital retail segment boomed.
DigiPlus on Friday said its net income in the January to June period swelled to P5.2 billion from P1.1 billion a year ago.
Revenues likewise soared by 295 percent to P32.5 billion.
READ: 24/7 online bingo operator not affected by Pogo ban
“The first semester was encouraging for DigiPlus,” Eusebio Tanco, DigiPlus chair, said in a statement.
Article continues after this advertisement“By optimizing user engagement through personalized experiences and diversifying our content offerings, we believe we are poised to capture the strong growth of the digital entertainment industry,” added Tanco, who made a comeback in Forbes Magazine’s list of the Top 50 richest in the Philippines with a net worth of $815 million.
Article continues after this advertisementIn the second quarter alone, DigiPlus said net income ballooned by 389 percent to P3.2 billion, while revenues nearly quadrupled to P18.9 billion on higher user traffic and fresh contribution from new games.
DigiPlus currently runs 24/7 online bingo streaming platform BingoPlus, which is supported by over 140 physical sites across the country.
ArenaPlus, meanwhile, is its online sports betting platform that livestreams local and international sporting events, including conferences of the Philippine Basketball Association.
Its other games are Color Game, BingoPlus Poker and TongitsPlus.
The company has gained much popularity over the past year, especially as its domestic digital business will not be affected by President Ferdinand Marcos Jr.’s ban on Philippine offshore gaming operators (Pogos).
DigiPlus, whose share price has more than doubled since the beginning of the year, explained that it did not fall under the Pogo category.
Company president Andy Tsui previously said they were expecting to attract an additional 5 million to 10 million registered users this year from 20 million currently as they launch more games and diversify into digital content.
