Philippines’ DigiPlus plans €32.7 million capital expenditures for 2024

Jenny Ortiz April 8, 2024

SiGMA news

Philippines’ DigiPlus plans €32.7 million capital expenditures for 2024

DigiPlus Interactive Corp., a prominent player in the gaming and leisure sector in the Philippines, has earmarked up to Php2 billion (€32.7 million) for capital expenditures (Capex) in 2024, with a significant portion dedicated to technological innovation and game development.

In a press release last week, DigiPlus President Andy Tsui revealed that the Capex for the year is expected to range between P1.5 billion to P2 billion, marking a 20 to 30 percent increase from the previous year.

In 2023, DigiPlus achieved a milestone with a net income of Php4.1 billion (€67.1 million), marking a staggering 596 percent surge compared to the previous year. This achievement stands in stark contrast to its modest net income of PHP 686.8 million (€11.2 million) in 2022 and the challenging net loss of Php894 million (€14.6 million) experienced during the pandemic-ridden year of 2021. The company attributed over 90 percent of its total revenue to its diverse gaming portfolio, which includes traditional onsite bingo operations, the BingoPlus platform, and various e-games.

Increased allocation for technological advancements

Tsui said a significant portion of this investment will be channelled into technological advancements and game development initiatives, underscoring DigiPlus’ commitment to enhancing its digital offerings.

Focus on site and equipment upgrades

In addition to technological investments, DigiPlus plans to allocate a portion of its Capex budget toward site and equipment upgrades. This strategic approach aims to ensure that the company’s physical sites remain equipped with cutting-edge technology and provide an immersive gaming experience for customers.

Revenue growth and user expansion targets

Tsui also said that DigiPlus has set ambitious targets for revenue growth, aiming for a 10 to 20 percent increase, and plans to add up to 10 million users to its digital gaming platforms, including BingoPlus, ArenaPlus, and PeryaGame. With approximately 20 million registered users currently, the company is poised to leverage its extensive user base to drive further growth and expansion.

Digital transformation initiatives

The company’s president also reiterated DigiPlus’ commitment to accelerate its digital transformation efforts, aiming to capitalize on the growing demand for digital entertainment. By integrating digital and offline offerings and introducing flagship stores, live streaming hubs, and advanced gaming machines, the company seeks to enhance the overall customer experience and solidify its position in the market.