DigiPlus net income climbs past P1 billion

LISTED digital gaming company DigiPlus Interactive Corp. said its attributable net income surged 134.9% in the third quarter carried by higher revenues and new digital games on its platforms.

In a regulatory filing on Monday, Digi-Plus said its net income attributable to the equity holders of the parent company for the July-to-September period increased to P1.01 billion from P428.79 million last year.

DigiPlus said its revenues rose 143.6% to P7.01 billion from P2.88 billion a year ago led by a surge in retail game revenue, which jumped 154.2% to P6.80 billion.

The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 123% to P1.3 billion in the third quarter.

For the nine months to September, DigiPlus said its attributable net income surged to P2.08 billion from P172.37 million a year ago.

“This was driven by the robust performance of its digital retail gaming segment, the launch of new game offerings combined with cost efficiencies achieved as the business continues to gain scale,” DigiPlus said.

The company’s EBITDA during the nine-month period rose 390% to P2.5 billion. 

DigiPlus said its revenues nearly tripled to P16 billion due to higher user traffic in the company’s flagship livestreaming bingo game under the BingoPlus platform and digital sports betting under the ArenaPlus platform, carried by “aggressive advertising and promotion efforts.”

“The sustained growth momentum in our BingoPlus and ArenaPlus platforms combined with the promising prospects for our new game offerings put us in a strong position to capture the opportunities around digital entertainment,” DigiPlus President Andy Tsui said.   

Meanwhile, DigiPlus said it would launch new game offerings in the coming months such as a cards game.

“We continue to be positive about our growth trajectory as we execute on our vision to harness technologies to unlock new forms of entertainment for Filipinos that can be accessed anytime and anywhere,” Mr. Tsui said.

In September, DigiPlus launched its livestreaming specialty game Color Game, which mirrors the traditional carnival game. Color Game is available on the BingoPlus and ArenaPlus platforms.

DigiPlus is a digital entertainment company that has over 20 million combined users in its BingoPlus and ArenaPlus platforms.

On Monday, shares of DigiPlus at the local bourse rose 11 centavos or 1.62% to P6.90 apiece. — Revin Mikhael D. Ochave