LISTED digital entertainment company DigiPlus Interactive Corp. has earmarked between P1.5 billion and P2 billion for its capital expenditure (capex) budget in 2024.
This investment is aimed at boosting revenues and increasing the number of registered users, the company said on Monday.
“At least 50% goes to the technologies and game developments. We also spend some money on our site and equipment upgrades. Those are the big-ticket items for our capex this year,” DigiPlus President Andy Tsui said during a briefing.
“It (2024 capex) will be slightly higher, around 20-30% increase from last year’s because we expect site upgrades,” he added.
Mr. Tsui said that DigiPlus, which operates digital platforms BingoPlus, ArenaPlus, and Per-yagame, is expecting to grow its revenue by 10-20%, as the company aims to have five to ten million new registrations this year.
Currently, DigiPlus has around 20 million registered users.
“I think we can add between maybe five to 10 million registered users. We can grow maybe from 20 million to 25 or 30 million registered users this year,” Mr. Tsui said.
In 2023, DigiPlus saw an almost sixfold increase in its net income to P4.1 billion as revenues increased more than three times to P27.3 billion.
DigiPlus shares rose by 1.35% or 16 centavos to P12.04 apiece on Wednesday. — Revin Mikhael D. Ochave