Apr 03, 2024 - 16:27
By manilatimes.net

DigiPlus allots up to P2B for 2024 capital expenditures

GAMING and leisure firm DigiPlus Interactive Corp. is allocating up to P2 billion for capital expenditures (capex) this year, with at least half of the amount going toward technological and game development.

The capex for this year will be around P1.5 billion to P2 billion, DigiPlus President Andy Tsui told reporters on Wednesday.

«It will be slightly higher, probably around 20 to 30 percent from last year,» he added.

The company also plans to use some of the capex budget for site and equipment upgrades.

«We continue to invest in cutting-edge technologies and product development to continuously offer unparalleled enjoyment for Filipinos,» Tsui added.

«We aim to shape the landscape of Filipino entertainment with our portfolio of digital offerings that cater to different demographics and lifestyle preferences.»

DigiPlus expects to grow its revenues by 10 to 20 percent and add up to 10 million users to its digital gaming platforms BingoPlus, ArenaPlus, and PeryaGame.

The company claims its gaming platforms currently have around 20 million registered users and that its platforms are supported by more than 140 physical sites across the country.

«Through our accelerated digital transformation effort, we are optimistic that we can sustain the growth momentum across DigiPlus' digital offerings,» Tsui said.

«As we expand our retail segment, we remain committed to integrating our digital and offline offerings by introducing top-tier flagship stores, live streaming hubs, and cutting-edge gaming machines — all using the latest technology.»

DigiPlus last month said that 2023 net income grew nearly six times to P4.1 billion, from P686.9 million in 2022, following sustained growth in digital retail operations.

Consolidated revenues totaled P27.3 billion, up 306 percent year on year, on the back of increased user traffic on BingoPlus and ArenaPlus as well as contributions from new digital offerings.

Shares in DigiPlus rose 16 centavos, or 1.35 percent, to close at P12.04 apiece on Wednesday.