November 25, 2024 | 12:00am
MANILA, Philippines — Digital entertainment company DigiPlus Interactive Corp. is setting its sights on potential acquisitions that would further diversify and strengthen its operations in the country.
DigiPlus president Andy Tsui said the company has a strong balance sheet to fund future investments.
“We will continue to evaluate strategic investments that align with our growth objective. This includes potential acquisitions, expansion into the new market and further development of our core business area,” he said.
DigiPlus vice president and head of investor relations, corporate communication and sustainability Celeste Jovenir said the company’s radar is not just for other gaming operators in terms of potential mergers and acquisitions, but also in other digital entertainment firms like live-streaming companies and game developers.
“Acquisitions are always in the horizon. Obviously, we are still an emerging company and this is still an emerging industry. So it’s always on the horizon as part of our strategic expansion initiatives. Mergers and acquisitions will always be on the table,” she said.
DigiPlus, the company behind digital entertainment platforms BingoPlus, ArenaPlus and GameZone, is currently strengthening its position in the country’s digital entertainment landscape.
Over the past year, the company has launched diversified offerings that cater to a broader spectrum of demographics.
Tsui said the company has been growing rapidly over the past nine months in terms of monthly active users.
“By the end of the third quarter of 2024, the monthly active user is around 4.5 million. So we’re growing compared to end of 2023 where we were about two million active users,” he said.
From January to September, earnings of DigiPlus soared by 314 percent year-on-year to P8.75 billion on the back of robust growth of the retail games segment coupled with the introduction of new product offerings and cost efficiencies.
DigiPlus is currently in the final stages of the licensing process that will allow it to participate in Brazil’s newly regulated iGaming sector.
The company has also recently beefed up its boardroom as it tapped former Integrated Micro-Electronics Inc. CEO Arthur Tan as an independent director.
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