The Philippine entertainment group DigiPlus Interactive Corp. (DigiPlus) announced that its net income for the second quarter reached 3.2 billion pesos (51 million euros), a 389% increase year-over-year.
In the press release, DigiPlus attributed this growth to the strong performance of its digital retail business and a revenue-sharing agreement with the Philippine Amusement and Gaming Corporation (PAGCOR) regarding the revision of electronic games, which took effect in April 2024. The revenue for the second quarter of 2024 soared by 295% year-over-year to 18.9 billion pesos (301 million euros), benefiting from increased user traffic and the launch of new games. The company's EBITDA also significantly rose, up 351% year-over-year to 3.4 billion pesos (54.2 million euros).
Continuous Growth Shown in the First Half of 2024
In the first half of 2024, DigiPlus reported a net income of 5.2 billion pesos (82.9 million euros), a 377% increase from the first half of 2023's 1.1 billion pesos (17.5 million euros). Revenue also saw a significant increase, climbing 263% to 32.5 billion pesos (518.7 million euros). The company's EBITDA reached 5.5 billion pesos (87.8 million euros), a 336% increase year-over-year.
DigiPlus Chairman Eusebio Tanco expressed optimism about the company's growth prospects, stating, "The first semester has been encouraging for DigiPlus. Despite challenges, we continue to innovate and provide unmatched digital entertainment experiences for our customers. By optimizing user engagement and personalizing experiences, while diversifying content offerings, we believe we are well-positioned to capture the strong growth in the digital entertainment industry."
Promoting Economic Growth and Social Development
Beyond financial success, DigiPlus also showcased its commitment to the economic growth and social development of the Philippines. In the first half of 2024, the company paid 15.1 billion pesos (241 million euros) in taxes and fees to the national government and employed over 3300 people nationwide.
Through its corporate social responsibility arm, the BingoPlus Foundation, DigiPlus made donations to multiple community projects. The foundation increased its outreach budget by 500%, allocating over 100 million pesos (1.6 million euros) to support communities and promote responsible gambling practices.
