DigiPlus Interactive Corp., a listed online gaming group, said Monday its net income in the first nine months surged more than tenfold to P2.1 billion, driven by a surged in its digital retail gaming business, the launch of new game offerings, and improved cost efficiencies.
It said revenue during the period nearly tripled to P16 billion on higher user traffic in its flagship livestreaming bingo game under BingoPlus and digital sports betting under ArenaPlus. Digiplus attributed part of the strong gaming business to its aggressive advertising and promotion efforts.
In the third quarter alone, net income was up 2.3 times to P1 billion on the back of the introduction of new digital games on both platforms. Revenue in the third quarter soared 2.4 times to P7.0 billion.
DigiPlus said that since its foray into the digital segment in January last year, it has accumulated a strong user base across its digital ecosystem.
In September, the company launched Color Game, a livestreaming specialty game that mirrors the traditional carnival game. The Color Game is available in the BingoPlus and ArenaPlus platforms. To cater to broader demographics and lifestyle preferences, DigiPlus will launch in the coming months new and innovative game offerings, including a cards game.
“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. 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,” said DigiPlus president Andy Tsui.
