DigiPlus Interactive Corporation, formerly known as Leisure & Resorts World Corporation, has emerged as the top-performing stock in the gambling sector in 2024. With a staggering price increase of 151% year-to-date and a remarkable 274% surge compared to the previous 12 months, DigiPlus Interactive has outperformed all other gambling stocks with a market capitalization of $1 billion or more. The company’s shares reached an all-time high on Wednesday, reflecting its strong performance in the market.
Based in the Philippines, DigiPlus Interactive is a key player in the rapidly expanding online gambling market in the country. While initially focusing on land-based bingo halls, the company transitioned into the online space and has become a dominant player with its BingoPlus digital brand. Additionally, DigiPlus Interactive offers sports betting through Arena Plus and various games through Perya Game. The company’s revenue has surged by an impressive 525% year-on-year in its most recent reported quarter, showcasing its rapid growth and success in the online gambling sector.
In terms of profitability, DigiPlus Interactive has also seen significant gains, with net profit reaching $57 million in the second quarter of 2024. This marks a 400% increase from the same period in 2023, surpassing the profit levels of the leading land-based casino company in the Philippines, Bloomberry Resorts. Despite the recent ban on Philippine Offshore Gaming Operators (POGOs) by President Ferdinand Marcos Jr., DigiPlus Interactive remains unaffected and is now exploring opportunities in other markets, including a license application in Brazil.
Overall, DigiPlus Interactive’s exceptional performance in the gambling sector, coupled with its strategic expansion into online gambling and potential international ventures, has positioned the company as a standout player in the industry. With its innovative approach and strong financial results, DigiPlus Interactive continues to drive growth and success in the dynamic world of online gambling.