DigiPlus Interactive Corp., formerly Leisure & Resorts World Corp., said Wednesday it was in the black anew last year as revenue more than tripled on a surge of retail games earnings.
The listed gaming company posted a P600.7 million net income last year after a loss of P828.4. million in the previous year.
Revenue from its retail gaming business, which includes on-site and remote bingo operations as well as e-games services, jumped to P8.91 billion from P2.81 billion in 2021. The turnaround was traced to the resumption of majority of its site operations and the launching of its own technology platform.
“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.”
Andy Tsui, president of DigiPlus
The company plans to expand its site operations in different areas, to acquire new machines and to expand its game offerings. It already has funds to finance the expansion plans, with P1.36 billion in cash and cash equivalents at the end of 2022 and recently completed a round of private placement value up to P1.85 billion.
