Philippine holding company DigiPlus Interactive Corp, which has invested in gaming and leisure businesses including digital bingo and digital sportsbook operations, posted net income attributable to shareholders of 1.99 billion PHP ($34.7 million) in the first quarter, up 370.2% year-on-year from nearly 424.4 million PHP in the same period in 2023.

In the three months to March 31, DigiPlus’ consolidated revenue (mostly from “retail games”) rose 226.3% to PHP 13.63 billion from just PHP 4.18 billion in the first quarter of 2023.

“This is mainly because revenues from bingo and electronic games have increased in the retail, casino and real estate sectors,” it said in a filing to the Philippine Stock Exchange on Wednesday.

DigiPlus Q1 Earnings Before Interest, Taxation, Depreciation, and Amortization Was Just PHP 21.1 Billion, Up 312.8% From PHP 510.2 Million In Q1 2023

“We plan to continue our growth momentum by continuing to invest in innovation and new technologies and adding new digital products to enhance the user experience,” DigitalPlus President Andy Tsui said in prepared remarks.

He added, “By providing innovative, fun, and accessible digital services, we aim to continue to revolutionize the entertainment space in the Philippines.”

AB Leisure Index Inc., which is 100% owned by the company, has 128 land-based bingo venues, 116 of which are operating as of March 31, and in 2022 launched its online bingo service Bingo Plus, which is said to be the first traditional bingo product sold on a technology platform licensed by Philippine Entertainment Gaming Corporation (Pagcor), a Philippine gaming regulator.

In February 2023, DigiPlus launched ArenaPlus, a new brand for sports betting operations.

Blue Chip Gaming and Leisure, a DigiPlus division, operates casino slot arcades in four “Pakor VIP Clubs.”

The parent company group is also the 87.27% owner of First Cagayan Leisure and Resort Corp., which is responsible for monitoring the licensing, regulation, and operations of interactive gaming businesses on behalf of the Cagayan Economic Zone Authority (CEZA). The latter agency has been issuing licenses for “interactive gaming” since 2001.

DigiPlus, formerly known as Leisure & Resorts World Corporation, has been linked to a proposal to develop a casino resort on holiday Boracay Island by October 2023.

Pagco expects the domestic gaming industry to post $336.38 billion in total gaming revenue this year, up 17.9% from 2023. Pagco said it expects the electronic gaming sector to post the fastest growth in 2024.

Official data showed that about 43.5% of Pagcor’s PHP 22.9 billion first-quarter revenue came from the e-Games segment.

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