Gaming firm DigiPlus Interactive Corp. (DigiPlus), formerly Leisure and Resorts World Corporation, reported a more than tenfold surge in net income to P2.1 billion in the first nine months of the year.

In a disclosure to the Philippine Stock Exchange (PSE), the firm said this was driven by the robust performance of its digital retail gaming segment and the launch of new game offerings combined with cost efficiencies achieved as the business continues to gain scale.

Chaired by businessman Eusebio Tanco and one of the fastest-growing digital entertainment groups in the country, Digiplus said its revenues in the first nine months of the year nearly tripled to P16 billion.

This is due to higher user traffic in its flagship livestreaming bingo game under BingoPlus and digital sportsbetting under ArenaPlus, lifted by aggressive advertising and promotion efforts.

Earnings before interest, taxes, depreciation and amortization (EBITDA), on the other hand, jumped 390 percent from a year ago to P2.5 billion.

In the third quarter alone, net income jumped 132 percent to P1 billion year-on-year, bolstered by the introduction of new digital games in both platforms.

Revenues in the third quarter soared 144 percent to P7 billion while, EBITDA rose 123 percent to P1.3 billion.

Since its foray into the digital segment in January 2022, DigiPlus has accumulated a strong user base across its digital ecosystem.

In September, DigiPlus launched Color Game, a livestreaming specialty game that mirrors the traditional carnival game. The Color Game is available in the BingoPlus and ArenaPlus platforms.

To cater to broader demographics and lifestyle preferences, DigiPlus said it will launch in the coming months new and innovative game offerings, including a cards game.

“The sustained growth momentum in our BingoPlus and ArenaPlus platforms combined with the promising prospects for our new game offerings put us in a strong position to capture the opportunities around digital entertainment,” said DigiPlus President Andy Tsui.

He added that, “We continue to be positive about our growth trajectory as we execute on our vision to harness technologies to unlock new forms of entertainment for Filipinos that can be accessed anytime and anywhere.”