The company’s board of directors approved the creation of a new investment holding company, whose main objective is to identify and acquire businesses “to optimize the company’s portfolio of entertainment and leisure assets”.
“The transaction is aligned with DigiPlus’ strategic vision to position itself as the
leading, most innovative, and technologically advanced digital entertainment group in
the Philippines,” the stock exchange filing showed.
“The transaction allows DigiPlus to unlock new forms of entertainment for customers, including offering new platforms catering to various demographics and lifestyle preferences,” it added.
DigiPlus stood out as the stock market darling of 2023 despite a sluggish market. Its shares soared more than five times over the past year—touching a high of P14.16 each on April 5— amid bright prospects for gaming, thanks to its popular Bingo Plus platform.
Last year, the company saw a 600 percent profit spike to P1.4 billion while revenues reached P27.3 billion, a gain of 306 percent, amid higher user traffic in its flagship bingo platform BingoPlus and sportsbook ArenaPlus.
DigiPlus Interactive, formerly Leisure and Resorts World Corp., aims to grow revenues this year by 10-20 percent, a separate stock exchange filing showed. Capital investment expenditures were also estimated at P1.5-2 billion.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
