DigiPlus posts P4.1-B profit in 2023
Composite image of online game players in an increasingly profitable industry. INQUIRER FILES / Dannie Agacer
DigiPlus Interactive Corp. has reported a P4.1-billion increase in profit ending December 2023, or a 596-percent growth, fueled by its digital retail segment.
In its filing with the Philippine Stock Exchange on Monday, DigiPlus attributed the sharp rise to the introduction of new platforms, according to Andy Tsui, president of the digital entertainment group.
In the last quarter of 2023 alone, DigiPlus posted a 392-percent year-on-year increase in net income to P2 billion, backed by higher user traffic of new digital offerings. Its earnings before interest, taxes, depreciation and amortization (Ebitda) rose by 460 percent to P2.3 billion during the same quarter, reaching a full-year Ebitda of P4.8 billion.
Its flagship bingo platform BingoPlus and sportsbook ArenaPlus have a combined revenue income of P27.3 billion, up 392 percent year-on-year, driven by higher user traffic.
According to Tsui, the company is “pleased to see the sustained growth momentum across our digital offerings as we aim to usher a new era of entertainment in the space.”
With “new technologies and product deliver innovative, fun, affordable, accessible digital offerings,” Tsui said, DigiPlus is optimistic on the growth prospects of the digital entertainment industry that will cater to a broader demographics and lifestyle.
DigiPlus is set to declare cash dividends of 18 centavos per outstanding common share, which will be paid out on April 18 to stockholders on record as of April 4.
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