Leading retail gaming provider DigiPlus Interactive Corporation (DigiPlus), which operates BingoPlus, the first and only PAGCOR-licensed remote gaming platform in the country, sustained its strong profit momentum in the first quarter of the year, boosted by the robust performance of its retail games segment.
DigiPlus posted a net income of ₱436.8 million for the first quarter of 2023, a turnaround from the ₱223.1 million in net losses incurred in the same period last year, driven by strong topline growth from its retail games business. Its consolidated revenues expanded more than threefold to ₱4.2 billion, fueled by the solid performance of BingoPlus. The strong rebound of its electronic gaming operations and casino segment on the resumption of operating sites likewise lifted DigiPlus’ revenues.
Similarly, DigiPlus achieved a turnaround in EBITDA to ₱510.2 million in the first quarter from its negative position of ₱151.1 million in the previous year.
DigiPlus’ retail games business, which accounts for over 90 percent of its total revenues, is composed of both the digitalized bingo games and traditional onsite operations as well as electronic game stations under the BingoPlus brand. BingoPlus’ gaming platform saw exponential growth since its launch in January 2022 as DigiPlus embarked on a strategic transformation amid the accelerated digital adoption triggered by the pandemic. Since then, BingoPlus has become a community and entertainment hub, a source of revenue for the government, and funding for social and educational programs.
“We are pleased to see the transformation initiative we embarked on coming to fruition. The success of BingoPlus validates our new strategic focus to digitalize our business to adapt to the evolving Filipino consumer. This positive momentum is an opportune time to execute on our growth initiatives as we look to expand our site operations and introduce new and innovative game offerings in the coming months,” DigiPlus President and CEO Andy Tsui said.