DigiPlus sustains earnings recovery on retail gaming; online bingo, Arena users at 20M

DigiPlus Interactive Corp., one of the fastest growing digital gaming groups in the country, sustained its earnings recovery in the second quarter, pushing net income in the first half to P1.08 billion, a sharp reversal from a net loss of P256.4 million as revenue nearly quadrupled during the period.

Net income in the second quarter stood at P659.6 million, 51 percent more compared to the first quarter and a turnaround from the P34 million net loss last year.

First-half revenue jumped to P8.97 billion from P2.62 billion, with the bulk, or P8.57 billion, coming from retail gaming as its BingoPlus operations gained stronger traction and the introduction of new digital game products, including ArenaPlus. 

DigiPlus said its strategic transformation that began last year fueled growth by capturing the tremendous opportunity from the rapid pace of digitalization taking place across industries. 

The company launched the digital platform BingoPlus, which remains the first and only platform of its kind in the country duly licensed by the Philippine Amusement and Gaming Corporation. Through technology and innovation, BingoPlus provides the convenience of time and place in bringing the game real-time in a digital format.

“With a technology-savvy population, BingoPlus has rapidly become a community and entertainment hub, a source of revenue for government, and a sponsor for various non-profit social and charitable initiatives,” said DigiPlus. 

Last February, DigiPlus launched ArenaPlus, a digital sportsbook which streams local and international sporting events live. Duly licensed by PAGCOR, ArenaPlus has become the official digital entertainment gateway for both local and international sporting events such as the Philippine Basketball Association, the Philippine Volleyball League, and the FIBA World Cup.

As of July 2023, BingoPlus and ArenaPlus have a total registered user base of over 20 million. Moving forward, DigiPlus expects to launch new and innovative digital products to provide more entertainment options to the Filipino consumer.

“We are happy to see the stronger performance of our digital platforms in the second quarter. This solidifies the strategic transformation we embarked on a year ago. As we continue to scale up our brands and introduce new offerings, we are confident that we can sustain this upward trajectory for the rest of the year,” DigiPlus president Andy Tsui said.