DigiPlus says no plans yet to develop Boracay property

3 days ago

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DIGIPLUS.COM.PH

LISTED DigiPlus Interactive Corp. said it has no plans yet to develop a property on Boracay Island as the company focuses on its digital initiatives.

“At the moment, we have no imminent plans to develop the 24-hectare property in Boracay into an integrated resort because we still remain focused on executing our digital transformation strategies, which give us a higher margin,” DigiPlus President Andy Tsui said in a virtual briefing last week.

In March 2018, DigiPlus and Macau-based casino operator Galaxy Entertainment Group bagged a provisional gaming license from the Philippine Amusement and Gaming Corp. to establish an integrated resort in Boracay worth at least $500 million.

However, the project was interrupted by a three-year moratorium imposed by the Duterte administration on new casinos, which was lifted in August 2021.

Mr. Tsui said that DigiPlus has 40 million registered users on its platform, adding that the company has seen higher user counts compared to last year.

“At the end of the third quarter, the monthly active user count was somewhere around 4.5 million. We’re growing compared to the end of 2023 when we had about two million active users,” he said.

Meanwhile, Mr. Tsui said DigiPlus is integrating its online platform with the company’s 140 physical sites to improve the player experience.

“The main purpose of these sites is for branding and customer service. With the stronger footprint, we can better serve our players and engage our customer service team for faster and more efficient handling of transactions,” he said.

DigiPlus grew its nine-month net income by 314% to P8.75 billion from P2.1 billion in 2023, led by its retail games, new product offerings, and cost efficiencies.

Revenue surged by 223% to P51.56 billion from P15.98 billion in 2023.

The company operates platforms such as BingoPlus, ArenaPlus, PeryaGame, Tongits+, GameZone, Pinoy Drop Ball, and Super Ace Jackpot.

DigiPlus shares were last traded on Nov. 22 at P20.15 per share. — Revin Mikhael D. Ochave