Licensed online gaming operator DigiPlus Interactive Corp reported a 32.9-percent year-on-year decline in net income for the first quarter of 2026, amid softer revenues linked to reduced access to online gaming payment channels, according to a Tuesday filing.
Net income attributable to the parent stood at PHP2.82 billion (US$45.9 million) for the three months to March 31, down from PHP4.20 billion in the prior-year period, the company said in its quarterly report.
First-quarter earnings before interest, taxation, depreciation, and amortisation (EBITDA) declined 42.5 percent year-on-year, to PHP2.64 billion.
Consolidated revenue for the January to March period decreased 25.2 percent year-on-year, to PHP17.24 billion.
The Philippine-listed firm said the decline was “primarily driven by the delinking of e-wallet in-app access to licensed online gaming platforms,” which reduced user accessibility and transaction volumes. It also mentioned a “tempered consumer sentiment from the ongoing global fuel crisis” linked to the Middle East conflict.
In August, amid higher scrutiny of the gaming sector, the Philippines’ central bank ordered the delinking of online gambling platforms from electronic wallets (e-wallets).
Despite the softness in results, Eusebio Tanco, DigiPlus’ chairman, said in prepared remarks: “Our fundamentals remain intact, and we remain confident in the long-term growth trajectory of the business as we adapt our payments ecosystem, strengthen player engagement, and continue to lead with responsible, innovative digital entertainment.”
In the Philippines, DigiPlus runs BingoPlus, described as the country’s first government-approved online bingo platform. It also operates ArenaPlus, a sportsbook, and GameZone, a platform for casual and arcade gaming. One of the group’s other units operates casino slot arcades in the country.
Retail gaming – the group’s main revenue contributor – generated nearly PHP17.00 billion in the first quarter, down 25.3 percent from a year earlier.
Total costs and expenses fell 19.1 percent from a year ago, to PHP15.08 billion.
Operating income in the first quarter declined 49.1 percent year-on-year to PHP2.17 billion, reflecting lower revenues, though partially offset by reduced franchise fees, taxes and other operating costs.
DigiPlus is set to pay lower franchise fees and taxes following its investment in International Entertainment Corp.
DigiPlus has a HKD1.60-billion (US$204.3-million) convertible note agreement with Hong Kong-listed International Entertainment, which – if fully converted – would result in DigiPlus holding a 53.89-percent stake in International Entertainment.
The Hong Kong-listed firm controls the New Coast Hotel Manila, a property that has a provisional casino gaming licence from the Philippine Amusement and Gaming Corp (Pagcor).
DigiPlus’ management had mentioned a “commercial agreement” with International Entertainment that allows DigiPlus “to apply a lower Pagcor tax rate to integrated casinos,” Maybank Securities Inc said in a recent note.
The brokerage revised downwards its revenue projections for DigiPlus for the next two years, citing weaker-than-expected 2025 performance and a recalibration of growth assumptions.
DigiPlus confirmed this week that it is in talks to buy a second hotel at Manila Bay, “in line with plans to transform part of the historic Manila Bay site into a US$1 billion gaming complex”.
As of March 31, DigiPlus’ cash and cash equivalents stood at PHP20.5 billion, while total debt load was PHP745.8 million.
In mid-April, outside of the reporting period, DigiPlus said it had received online gaming licences from the Western Cape Gambling and Racing Board (WCGRB) in South Africa, and it also flagged a “multiyear collaboration” – via ArenaPlus – to become the National Basketball Association’s (NBA’s) “first official betting partner in the Philippines”.
