DigiPlus Net Income Expands 389 Percent To PHP3.2 Billion In Q2 Of 2024

DigiPlus Interactive Corp. (DigiPlus), the leading digital entertainment company in the Philippines, has reported an impressive net income of PHP3.2 billion for the second quarter of 2024.

DigiPlus' surge in profit was driven by the robust performance of its digital retail segment and a strategic adjustment in revenue-sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games. I Photo: Talent Offline at DigiPlus Facebook

This marks a substantial 389 percent increase from the same period last year, highlighting the company's strong growth trajectory.

The remarkable surge in profit was driven by the robust performance of DigiPlus's digital retail segment and a strategic adjustment in revenue-sharing with the Philippine Amusement and Gaming Corporation (PAGCOR) for electronic games, which took effect in April 2024.

The company disclosed these results to the Philippine Stock Exchange (PSE).

During the quarter, DigiPlus's revenues skyrocketed by 295 percent year-on-year to PHP 18.9 billion. This was fueled by an increase in user traffic and the introduction of new game offerings that resonated well with consumers.

For the first half of 2024, DigiPlus reported a net income of PHP5.2 billion, up 377 percent from PHP1.1 billion in the same period in 2023. Revenues for the same period also saw a significant increase, rising 263 percent to PHP32.5 billion from PHP8.9 billion.

Eusebio Tanco, Chairman of DigiPlus, expressed optimism about the company's performance, stating, "The first semester was encouraging for DigiPlus. Despite the challenges, we strive to continue to innovate and deliver unparalleled digital entertainment experiences to our customers."

He emphasized the company's commitment to user engagement, content diversification, and contributing to the growth of the digital entertainment industry.

In addition to its financial achievements, DigiPlus made significant contributions to the Philippine economy, paying PHP15.1 billion in taxes and fees to the national government in the first half of 2024.

The company also provided employment to over 3,300 individuals across the country.

The BingoPlus Foundation, DigiPlus's corporate social responsibility arm, has been actively involved in various community initiatives. The foundation increased its outreach budget by 500 percent to over PHP100 million, supporting projects related to education, healthcare, disaster relief, and more.

Since launching BingoPlus in January 2022, DigiPlus has expanded its digital entertainment offerings, including ArenaPlus, a digital sportsbook that streams local and international sporting events like the Philippine Basketball Association.

The company's continuous innovation and dedication to social impact underscore its leadership in the digital entertainment space in the Philippines.