DFNN unit InPlay.ph reports 61% growth in gross gaming revenue
DFNN, Inc. subsidiary InPlay.ph reported a 60.84% growth to P64.3 million in third-quarter gross gaming revenue (GGR), higher than the previous quarter’s P40 million as the online gaming industry continues to grow.
“Online gaming is one pursuit that undoubtedly flourished as a form of entertainment and InPlay.ph has definitely captured a respectable share of this market since launching in November 2020,” DFNN said in a disclosure to the exchange on Tuesday.
DFNN said InPlay.ph’s revenue “has consistently shown an upward trajectory” since launching.
For the nine-month period ending September, the company’s consolidated GGR totaled P269.3 million.
Meanwhile, InPlay.ph also saw its gross bets surge by 64.56% to P1.43 billion in the third quarter, up from the second quarter’s P1.43 billion. Gross bets for the nine-month period stood at P6 billion, DFNN said.
DFNN noted that InPlay.ph’s performance is expected to “surpass that of the traditional gaming outlets, which [have] suffered due to the lockdowns imposed because of the pandemic.”
“However, as lockdown measures ease and more gaming outlets reopen, it is projected that revenue from these outlets will start to improve and thus consolidated revenue figures at yearend are seen to be on the positive for the first time since March 2020,” DFNN said.
Shares of DFNN at the stock exchange went down by 2.97% or 10 centavos on Tuesday, closing at P3.27 each. — Keren Concepcion G. Valmonte