Philippine gaming giant DigiPlus Interactive earned Php 4.1 billion (approximately €67.1 million) in net revenue in 2023, a staggering 596% surge from the previous year.
This extraordinary achievement contrasts sharply with the company’s net income of approximately Php 680 million (about €11.2 million) in 2022 and the net loss of Php 89.4 million (about €14.6 million) it suffered in the pandemic-plagued 2021.
Bingo and electronic gambling are the main contributors
The company generates more than 90% of its total revenue from its diverse gaming portfolio, which includes traditional live bingo operations, the BingoPlus platform and a variety of electronic games.
The revenue surge in 2023 is mainly driven by the millions of Filipinos participating in bingo games, both in physical gaming halls and through online channels.
DigiPlus revealed that its revenue surged 306% to Php27.3 billion, driven mainly by surge in user traffic for its flagship bingo platform BingoPlus and sports betting platform ArenaPlus.
The surge was also aided by the introduction of new digital products, which marked a significant expansion of the company's gaming range.
DigiPlus subsidiary AB Leisure Exponent Incorporated's pioneering efforts in introducing bingo to the Philippines played a key role in the company's success.
License and User Groups
BingoPlus, also known as bingoplus.com, was founded in January 2020 and has attracted a huge user base of 20 million registered users within four years of its founding. The platform holds an exclusive license from the state-owned Philippine Gaming and Entertainment Corporation (PAGCOR).
Dominating the digital bingo market, Digiplus claims to have a 31% market share. In March, the FTSE Global Equity Index Series included Digiplus Interactive in its micro-cap category.
In March, the FTSE Global Equity Index Series added DigiPlas Interactive to its micro-cap category.
