Philippines retail gaming provider DigiPlus Interactive Corporation, formerly known as Leisure & Resorts World Corp, has posted net income of Php436.8 million (US$7.8 million) in 1Q23, reversing a net loss of Php223.1 million (US$4.0 million) a year earlier.
The improvement was generated by “strong topline growth from the retail games business,” DigiPlus said, with consolidated revenues more than tripling to Php4.2 billion (US$74.6 million). EBITDA of Php510.2 million (US$9.1 million) also reversed an EBITDA loss of Php151.1 million (US$2.7 million) in 1Q22.
The company stated that its positive results included a strong rebound from its electronic gaming operations and casino segment on the resumption of operating sites, while PAGCOR-licensed remote gaming platform BingoPlus continued its steady growth.
“We are pleased to see the transformation initiative we embarked on coming to fruition,” said DigiPlus President and CEO Andy Tsui. “The success of BingoPlus validates our new strategic focus to digitalize our business to adapt to the evolving Filipino consumer.
“This positive momentum is an opportune time to execute on our growth initiatives as we look to expand our site operations and introduce new and innovative game offerings in the coming months.”
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