MANILA, Philippines – Millions of Filipinos playing bingo in physical parlors as well as online boosted gaming company DigiPlus Interactive Corporation’s (DigiPlus) earnings in 2023. 

In a disclosure on Tuesday, March 19, DigiPlus, led by billionaire Eusebio Tanco, reported P4.1 billion in net income in 2023 after registering growth of 596% or nearly six times from 2022. 

DigiPlus’ net income in 2022 was only P686.8 million compared to a net loss of P894 million in pandemic year 2021.

“Revenues soared 306% to P27.3 billion in 2023 on higher user traffic in its flagship bingo platform BingoPlus and sportsbook ArenaPlus, lifted by the contribution of new digital offerings,” DigiPlus said. 

DigiPlus’ retail games business – traditional onsite bingo operation, its BingoPlus platform, and other e-games – accounts for over 90% of the company’s total revenue. 

The company had said in April 2023 that its retail games business would retain profitable operations “as it gains the favor of the social gamers, bingo-loving Filipinos.”

DigiPlus’ subsidiary, AB Leisure Exponent Incorporated, pioneered bingo gaming in the Philippines. Its BingoPlus or bingoplus.com was launched in January 2022 or four years ago, and it now has 20 million registered users, the company said. 

BingoPlus is the Philippines’ first and only livestreaming bingo licensed by state-owned Philippine Amusement and Gaming Corporation (Pagcor). In 2022, BingoPlus awarded P1.4 billion in winnings. 

DigiPlus said its bingo platform is the country’s “leading digital bingo operator with a 31% market share.”

In addition, BingoPlus has over 140 physical bingo sites throughout the country. Some of its company-owned bingo parlors are in malls such as SM Megamall, SM City North Edsa, SM Southmall, Sta. Lucia East Mall, New Farmers Plaza in Araneta City, and Makati Cinema Square.

GCash has made it easier for BingoPlus and other e-games to take off in the Philippines. In BingoPlus, for instance, players deposit and withdraw funds using their GCash as payment method. Withdrawing winnings is easy since players just select “Withdraw to GCash” and the money is deposited directly to the GCash account. 

DigiPlus has over 2,000 employees nationwide for its online and offline operations. 

In February 2023, it launched ArenaPlus, a digital sports website that streams local and international events live. It has partnered with the Philippine Basketball Association and Premier Volleyball League. DigiPlus said ArenaPlus offers betting services for local and international sports such as professional basketball, volleyball, and football “to add more excitement to their favorite sports.”

DigiPlus also owns the PeryaGame brand, which offers games of chance that involve cards, colors, and numbers. The games are similar to traditional Filipino carnival games. 

The company said the launch in September 2023 of Color Game, a livestreamed specialty game, bolstered its “robust performance” in 2023.

Aside from Color Game, other new products of DigiPlus that cater to “broader demographics and lifestyle preferences” are BingoPlus Poker and TongitsPlus. 

DigiPlus described Tongits as its “newly launched social game that offers the well-loved card game without wagering real money.”

“We are pleased to see the sustained growth momentum across our digital offerings as we aim to usher a new era of entertainment in the space. We continue to be optimistic about the prospects for the company as we invest in new technologies and product development to deliver innovative, fun, affordable, and accessible digital offerings that are traditionally well-loved by Filipinos,” DigiPlus President Andy Tsui said.

All of DigiPlus’ games are licensed by the Pagcor. 

In a November 2023 investor presentation, DigiPlus said Philippine gaming is recovering strongly from the pandemic and aided by growth in the local market. 

It projected the Philippine gaming industry’s Gross Gaming Revenue or GGR (total bets minus total wins) at P136 billion in the first half of 2023, up by 49% in the same period in 2022. Growth in GGR was seen at 15% per annum in the medium term. 

“Online gaming is expected to sustain its upward trajectory in the medium term,” said DigiPlus. 

“With early-mover advantage, DigPlus is well-positioned to capture the opportunities around the flourishing gaming and digital entertainment industry,” the company said. – Rappler.com