LISTED digital entertainment firm DigiPlus Interactive Corp. is optimistic about growth prospects for the fourth quarter with the introduction of new games aimed at staying ahead of the competition.
The company said that it expected higher gross gaming revenues (GGR) in the final three months of 2024 following a flattish quarter-on-quarter performance from P18.65 billion in the second quarter to P18.72 billion in July-September.
DigiPlus President Andy Tsui said at a PSE event last week that games introduced in the third quarter were showing promising results.
“We launched some new products in the third quarter, such as the Super Ace Jackpot, which are exclusive games that are offered by the DigiPlus platform with higher, bigger jackpots. Also, we launched a second game, which is a live-streaming drop ball game,” he added.
“These two games are actually performing pretty well in the fourth quarter. So, we do expect that we’re seeing some growth of GGR compared to the third quarter.”
Tsui said that “as everyone can see, we achieved strong growth in the last two and a half years. So basically, this attracts a lot of competition.”
The trend highlights increasing pressures on market leaders as more competitors enter the space, many with substantial marketing budgets and aggressive promotional strategies, Tsui added.
DigiPlus revenues surged 223 percent in the first nine months of 2024, to P51.56 billion from P15.98 billion a year earlier, with the third quarter result alone expanding 176 percent year-on-year to P18.72 billion from P6.8 billion.
The company’s shares fell by 0.25 percent to P20.15 apiece last Friday.
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