DigiPlus net income up 51% in Q2

DigiPlus has reported net income of PHP659.6m (US$11.6m).

The Philippines.- DigiPlus Interactive Corp (previously Leisure and Resorts World Corporation) has shared its financial results for the second quarter of the year. It’s reported a 51 per cent quarter-on-quarter rise in net income to PHP659.6m (US$11.6m) an EBITDA was of PHP755m (US$13.3m), up 48 per cent.

The company attributed the growth to the digital retail gaming sector and operational strategies that contributed to scaling efforts. It posted a 15 per cent quarter-on-quarter rise in revenue to PHP4.8bn (US$84.51m), mainly attributed to BingoPlus, which garnered “stronger traction, boosted by the introduction of new digital game products, including ArenaPlus.”

BingoPlus was launched last year after PAGCOR approved the AB Leisure division’s request to begin operations as an electronic games system service provider.

The company’s registered user base exceeded 20 million by the end of the second quarter. It said it has plans to introduce more digital products and remains confident in its capacity to sustain the trajectory throughout the year. 

Andy Tsui, president of DigiPlus, said: “We are happy to see the stronger performance of our digital platforms in the second quarter.

“This solidifies the strategic transformation we embarked on a year ago. As we continue to scale up our brands and introduce new offerings, we are confident that we can sustain this upward trajectory for the rest of the year.”

DigiPlus posted revenue of PHP8.91bn for 2022, up 217 per cent year-on-year. The Retail Games business was the primary source of revenue, bringing in 91.7 per cent or PHP8.16bn (US$144.61m).