DigiPlus Interactive Corp., the fastest-growing digital entertainment group in the country, saw its net income surge 358 percent to P2 billion in the first quarter from P424.4 million in the same period last year.
DigiPlus said Wednesday the profit momentum was driven by the robust performance of its digital retail segment.
First-quarter revenues jumped 226 percent from its year-ago level to P13.6 billion as user traffic in its flagship gaming platforms BingoPlus and ArenaPlus continued to grow, combined with fresh contribution from new game offerings.
“We intend to sustain our growth momentum by continuing to invest in innovation and new technologies to enhance user experience and adding new digital offerings traditionally well-loved by Filipinos. By delivering innovative, fun, and accessible digital offerings, we aim to continue revolutionizing the entertainment space in the Philippines,” DigiPlus president Andy Tsui said.
Earnings before interest, taxes, depreciation and amortization, surged 313 percent year-on-year to P2.1 billion.
Total costs and expenses also increased 213 percent or P7.8 billion in the first quarter. This was mainly due to higher franchise fees, advertising and promotions, outside services, salaries, and wages, rent expense, communication and utilities and depreciation and amortization.
DigiPlus launched new games including Perya Game, a local leisure and entertainment game platform with a nod to traditional Filipino carnival to diversify its digital entertainment portfolio that will cater to a variety of demographics and lifestyle preferences.
DigiPlus through AB Leisure Exponent Inc. also operates 128 land-based casino sites, of which 116 were operational aside from digital gaming platform.
The 12 other sites remained temporary closed mainly due to local government units’ executive orders and operating losses.
