DigiPlus Interactive Corp. (DigiPlus), the company behind digital entertainment platforms BingoPlus, ArenaPlus and GameZone, saw a 314 percent surge in net income, reaching P8.75 billion in the first nine months of 2024.
In a stock exchange report on Tuesday, the company attributed its strong performance to robust growth in its retail games segment, the launch of new product offerings, and improved cost efficiencies.
From January to September, DigiPlus posted a 223 percent increase in revenues, which rose to P51.56 billion, up from P15.98 billion during the same period in 2023.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also saw significant growth, climbing 271 percent to P9.34 billion from P2.52 billion last year.
In the third quarter alone, DigiPlus registered a net income of P3.52 billion, a 247 percent increase year-on-year.
Revenues for the quarter surged 171 percent to P19 billion, driven by higher user traffic and new game offerings.
EBITDA for the third quarter rose 206 percent, reaching P3.83 billion.
Games resonating with Filipino audiences
“As DigiPlus increasingly reaches steady-state growth following our exponential expansion since our digital pivot in 2022, we intend to cement our market leadership through focused research and development efforts to strategically develop culturally relevant games that resonate with Filipino audiences,” said DigiPlus Chairman Eusebio Tanco.
DigiPlus is expecting further growth as it continues to introduce new products aimed at capturing the attention of Filipino players.
In September, the company launched Pinoy Drop Ball, the first live-streamed dropball game in the Philippines. The game blends traditional Filipino carnival games with digital entertainment.