DigiPlus hopes to grow user base by 25% to 50% in FY24
DigiPlus [PLUS 12.04, up 1.4%; 155% avgVol] [link] President Andy Tsui guided that PLUS hopes to capture 50% of the P60 billion in gross gaming revenue growth that PAGCOR expects for FY24, and that it is looking to increase its active user base by 25% to 50% to achieve this goal. PLUS revealed that it ended FY23 with 20 million active users, and that it would target provincial users and especially those in the 30-to-40-year-old demographic. Mr. Tsui said that PLUS is allotting P1.5 billion to P2.0 billion for capex this year to rejuvenate some of its aging games and launch new games to appeal to that slightly older demographic. Mr. Tsui also guided investors that revenue growth in FY24 would not be as bombastic as FY23, where PLUS shareholders benefitted from a 306% increase in revenue, due to the high bar of that previous performance.
