DigiPlus’ revenue hit PHP8.91bn (US$157.91m).
The Philippines.- DigiPlus Interactive Corp (the company previously called Leisure and Resorts World Corporation) has shared its financial results for the year 2022. It’s posted revenue of PHP8.91bn, 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). Encompassing on-site bingo operations, remote BingoPlus platform operations, and e-game services, it remains profitable due to its popularity among social gamers and Filipino bingo players.
In 2022, the company’s net income amounted to PHP686.8m (US$12.16m), in contrast to the previous year’s operating loss of PHP894.6m. The company achieved positive EBITDA of PHP1,007m, as opposed to the EBITDA loss of PHP80m in the prior year. DigiPlus attributed the improvement to the majority of site operations resuming and the launch of the company’s own technology platform.
Andy Tsui, president of DigiPlus Interactive Corp, stated: “What we accomplished in 2022 is remarkable, the Company re-aligned its new business strategy and returned to profitable operations. We believe that there is strong momentum in our future business growth and the outlook is positive.”
As of 31 December 2022, DigiPlus had PHP1.36bn in cash and cash equivalents. The company says it is planning to expand its site operations, acquire new machines and expand its game offerings.
DigiPlus is involved in various gaming activities in the Philippines, including bingo, e-games stations, and slot arcades under a PAGCOR licence. A year ago, the company launched the first online bingo offering in the country after PAGCOR approved its AB Leisure division’s request to begin operations as an electronic games system service provider.