DigiPlus sees recovery by late 2026 amid regulatory impact

LISTED digital gaming company DigiPlus Interactive Corp. said it expects a full recovery by the third or fourth quarter of 2026, following the impact of last year’s central bank move to delink e-wallets from online gaming platforms.

“Delinking actually happened in mid-August. We have seen a steady recovery over the last six months. What we have done is we increased our engagement with our long-term high-value users. Because we follow the same business logic, the substantial amount of revenue coming from a group of these high-value long-term users,” President Andy Tsui said during a briefing on Wednesday.

“So again, we’re still in the recovery stage. We probably see, I would say, full recovery more towards maybe third or fourth quarter of this year,” he added.

Mr. Tsui said more than 50% of users have migrated to the company’s proprietary platform, with the share expected to rise.

“So we’re just providing more options to the players. Besides that, the online payment. So we added a Bayad Center last year, to make it more convenient for the player to deposit the money. So there’s no change even after delinking,” he said.

DigiPlus reported mixed results for 2025. Net income was steady at P12.6 billion, while revenue rose 12% to P84.2 billion from P75.2 billion in 2024, as strong first-half performance offset slower activity after the third-quarter delinking of e-wallet in-app access to licensed online gaming platforms.

Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 2% to P14.2 billion in 2025.

In the fourth quarter, net income fell 36% to P2.5 billion, while revenue declined 27% to P17.3 billion, reflecting partial regulatory effects. EBITDA rose 52% from P2 billion, supported by improved cost controls and operational efficiencies.

The company also said it is participating in a technical working group with the Senate and the Philippine Amusement and Gaming Corp. (PAGCOR) to help develop a regulatory framework for the digital entertainment sector.

The proposed framework seeks to tighten controls on payment channels and marketing practices, with an emphasis on consumer protection and transparency. PAGCOR and Senate officials have increased oversight as discussions continue.

“As a licensed and leading online gaming operator, we continue to welcome collaboration and active participation in discussions with the Philippine government to achieve our shared goal of raising the standards of the industry,” Chairman Eusebio H. Tanco said in a statement.

“By reinforcing a market where only those who adhere to the highest standards of compliance operate, we ensure that the benefits of our industry — from job creation to essential tax revenues — are preserved for the Filipino people,” he added.

Shares in DigiPlus rose 3% to close at P17.84 each on Wednesday. — Alexandria Grace C. Magno