When the final numbers were released Friday, they came remarkably close, generating P75.2 billion in revenue, almost all from gaming earnings.
This was equivalent to 48 percent of the P154.5 billion e-games market last year, based on data from the Philippine Amusement and Gaming Corp., which is helping cultivate legitimate businesses to counter the rise of illegal gambling.
The figures also prove explosive growth in an industry, with tycoon Eusebio Tanco-chaired DigiPlus at the lead.
And if a recent CLSA report is correct, it still has significant room for growth.
DigiPlus’s full-year 2024 numbers also came close to CLSA’s earnings projections for the online gambling giant, whose popular platforms include BingoPlus and ArenaPlus.
Its net income surged 207 percent to P12.6 billion, compared to CLSA’s forecast of P12.57 billion.
CLSA projects the company’s profit to grow by about 31 percent to P16.56 billion, before reaching P19.4 billion in 2026.
Revenues are also expected to grow 23 percent to P92.59 billion in 2025, according to CLSA data. This is also backed by monthly average user growth of about 4.6 million last year to an estimated six million in 2026.
DigiPlus has gained over 13 percent since CLSA released its report, despite heavy selling by gaming tycoon and company director Willy Ocier, who disposed of about 2.5 million shares in recent weeks, locking in a significant profit.
Where is the stock price heading? No one knows for sure, but CLSA believes it has plenty of upside left with its “high conviction outperform” rating with a 12-month target price of P55.40 per share.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
