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DFNN's online gaming unit cashes in on pandemic

Business

DFNN's online gaming unit cashes in on pandemic

By James A. Loyola

Inplay.ph, a gaming platform of DFNN Inc. subsidiary Inter-Active Entertainment Solutions Technologies Inc. (IEST), reported strong a strong performance as gamblers flocked to online gaming due to social distancing restrictions.

In a disclosure to the Philippine Stock Exchange, DFNN said that, for the three quarters ended September 30, 2021, InPlay.ph’s gross bets amounted to P6 billion.

DFNN-Logo-1aa

“Online gaming is one pursuit that undoubtedly flourished as a form of entertainment and InPlay.ph has definitely captured a respectable share of this market since launching in November 2020,” DFNN said.

In the third quarter alone, gross bets increased by an impressive 64.56 percent to P1.43 billion compared to second quarter gross bets of P869 million.

Third quarter gross gaming revenue (GGR) posted an increase of 60.84 percent at P64.3 million compared to the previous quarter’s GGR of P40 million. Consolidated GGR for the three quarters now amount to a total of P269.3 million.

“InPlay.ph’s revenue has consistently shown an upward trajectory since its launch. It is projected that InPlay.ph’s performance will surpass that of the traditional gaming outlets which has suffered due to the lockdowns imposed because of the pandemic,” DFNN said.

However, it noted that, “as lockdown measures ease and more gaming outlets re-open, it is projected that revenue from these outlets will start to improve and thus consolidated revenue figures at year- end is seen to be on the positive for the first time since March 2020.”

Related Tags

DFNN Inc. Inter-Active Entertainment Solutions Technologies Inc. (IEST) Inplay.ph

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