DigiPlus Interactive Corp, previously known as Leisure and Resorts World Corp, made waves in 2023 with a staggering 596% increase in net income compared to the previous year. This meteoric rise was fueled by robust growth in its digital retail segment, spearheaded by innovative platforms and enhanced operational efficiency.
Financial Triumphs:
In 2023, DigiPlus reported a remarkable surge in revenues, skyrocketing by 306% to Php27.3 billion (US$489 million). This surge was predominantly attributed to amplified user traffic in its flagship platforms, BingoPlus, and ArenaPlus, augmented by the introduction of new digital offerings. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) witnessed an exponential surge of almost 500% year-on-year, reaching Php4.8 billion (US$86.0 million).
Quarterly Highlights:
DigiPlus witnessed a particularly stellar performance in the fourth quarter of 2023, with net income reaching Php2.0 billion (US$35.8 million), marking a staggering 392% increase compared to the previous year. This surge was catalyzed by the successful launch of innovative digital offerings like Color Game, a live-streaming specialty game reminiscent of traditional Filipino carnival games. Q4 revenues surged by 331%, reaching Php11.3 billion (US$202 million), while EBITDA saw a remarkable 460% jump to Php2.3 billion (US$41.2 million).
Strategic Investments in Technology and Product Development:
DigiPlus remains committed to pioneering advancements in technology and product innovation to establish a robust digital entertainment ecosystem. By investing in cutting-edge technologies and continually developing new products, DigiPlus aims to deliver unparalleled entertainment experiences that resonate with Filipino audiences. President Andy Tsui emphasized the company’s dedication to offering innovative, affordable, and easily accessible digital offerings that capture the essence of beloved Filipino pastimes.
Forward-Looking Initiatives:
Looking ahead, DigiPlus is poised to capitalize on its momentum and explore new avenues for growth and expansion. With a keen focus on enhancing user experiences and leveraging emerging technologies, the company aims to redefine the digital entertainment landscape in the Philippines. By fostering a culture of innovation and adaptability, DigiPlus seeks to stay ahead of the curve and continually exceed consumer expectations.
Dividend Distribution:
In recognition of its outstanding performance and commitment to shareholder value, DigiPlus announced a final cash dividend of Php0.18 per outstanding common share, payable on 18 April 2024. This dividend distribution underscores the company’s strong financial position and its dedication to rewarding shareholders for their continued support and investment.
DigiPlus Interactive Corp’s phenomenal success story in 2023 highlights its resilience, innovation, and unwavering commitment to excellence in the digital entertainment sector. Through strategic investments in technology, product development, and customer-centric initiatives, DigiPlus continues to pave the way for a new era of entertainment experiences that resonate with Filipino audiences. As the company embarks on its journey towards greater heights, it remains poised to shape the future of digital entertainment in the Philippines and beyond.