VIP Play, Inc. reported its financial results for the second quarter of fiscal year 2025, revealing a significant increase in gaming revenues and a notable reduction in net losses compared to the same period last year. For the three months ended December 31, 2025, the company generated gaming revenues of $72,000, up from $22,000 in the same quarter of 2024. The net income for the quarter was $7.8 million, a substantial improvement from a net loss of $5.9 million in the prior year. For the six-month period, revenues rose to $77,000 from $18,000, while the net income was $4.3 million, compared to a loss of $11.3 million in the same period last year.
The company’s operating expenses for the three months ended December 31, 2025, totaled $2.2 million, a decrease from $8.5 million in the same quarter of 2024. This reduction was primarily attributed to lower general and administrative expenses and the absence of impairment charges that were recorded in the previous year. The decrease in operating expenses contributed to a narrower loss from operations, which was $2.4 million for the quarter, compared to $8.6 million in the same period last year. The company also reported a gain on the change in fair value of derivatives, which positively impacted its overall financial performance.
In terms of strategic developments, VIP Play, Inc. has made significant strides in expanding its operations. The company launched its sports betting operation in Tennessee in June 2023 and has since received interim approval for its i-Gaming and Sports Wagering Management Service Provider License in West Virginia. Although operations in West Virginia have not yet commenced, the company is actively pursuing the necessary licenses to offer online gaming services in the state. As of December 31, 2025, VIP Play had a total of 73.5 million shares outstanding, with an increase in additional paid-in capital to $31.5 million from $31.3 million at the end of the previous fiscal period.
Operationally, VIP Play reported a total cash balance of $241,000 and cash reserved for users amounting to $58.3 million as of December 31, 2025. The company’s total assets increased to $3.9 million from $3.7 million at the end of June 2025, while total liabilities decreased to $31.2 million from $35.5 million. The reduction in liabilities was primarily due to a decrease in accrued expenses and related party liabilities. The company’s accumulated deficit improved to $58.8 million from $63.1 million, reflecting its efforts to enhance profitability.
Looking ahead, VIP Play, Inc. remains focused on expanding its market presence and enhancing its product offerings. The company is optimistic about its growth prospects, particularly with the anticipated launch of operations in West Virginia and the ongoing development of its gaming platforms. Management believes that the strategic initiatives undertaken will position the company for continued improvement in financial performance and operational efficiency in the upcoming fiscal periods.
About VIP Play, Inc.
VIP Play, Inc. is a digital technology company specializing in online sports betting platforms. Its flagship brand, ZenSports, offers a mobile app with features like peer-to-peer betting, eSports wagering, and loyalty programs. The company targets U.S. markets, initially operating in Tennessee, and focuses on proprietary, scalable technology, regulatory compliance, and user retention to differentiate itself in the competitive online gaming industry.
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