Key Moments:
- DigiPlus Interactive Corp. reported a 27 percent decrease in fourth-quarter 2025 revenue and a 36 percent drop in net income.
- Bangko Sentral ng Pilipinas required e-wallet providers to disconnect from gaming platforms, disrupting payments and sharply reducing transaction volumes.
- For the 2025 full year, DigiPlus achieved PHP 84.2 billion ($1.4 billion) in revenue, up 12 percent over the previous year, with net income stable at PHP 12.6 billion ($210.7 million).
Fourth-Quarter Revenue Drops Amid Payment Changes
DigiPlus Interactive Corp., a major player in the Philippines’ licensed online gaming market, experienced a significant downturn in its fourth-quarter 2025 performance. Revenue fell by 27 percent year-on-year to PHP 17.3 billion ($289 million), while net income dropped 36 percent to PHP 2.5 billion ($42 million). The losses coincided with a central bank directive that compelled e-wallet providers like GCash and Maya to remove gambling platform integrations from their services, hindering millions of players’ ability to fund accounts swiftly.
Immediate Effects of the BSP Directive
The Bangko Sentral ng Pilipinas implemented Memorandum M-2025-029 around August 2025, which mandated the severing of direct links between regulated e-wallets and online gaming platforms. This regulatory intervention instantly complicated the payment process for players, transforming a previously convenient method into a more cumbersome one. As a result, PAGCOR reported transaction volumes across regulated platforms plunged by about 50 percent following the delinking, underscoring the sector’s reliance on these digital wallets not only for payments but also for attracting and retaining customers.
In response, DigiPlus expedited the launch of direct bank payment integrations and invested in proprietary payment channels. However, these measures could not fully counteract the immediate financial impact. The BSP positioned the directive as a consumer protection effort aimed at reinforcing clear boundaries between financial and gaming services.
Annual Results Hold Steady Despite Q4 Volatility
Despite a challenging final quarter, DigiPlus reported a more positive outcome for the entire year. Revenue for 2025 climbed 12 percent to PHP 84.2 billion ($1.4 billion), and net income was relatively unchanged at PHP 12.6 billion ($210.7 million). EBITDA also saw a modest two percent gain to reach PHP 14.2 billion ($237 million).
| Period | Revenue | Net Income | EBITDA |
|---|---|---|---|
| 4Q25 | PHP 17.3 billion ($289 million) | PHP 2.5 billion ($42 million) | – |
| 2025 Full Year | PHP 84.2 billion ($1.4 billion) | PHP 12.6 billion ($210.7 million) | PHP 14.2 billion ($237 million) |
The company has declared a total dividend of PHP 3.8 billion ($63.3 million), or PHP 0.83 ($0.014) per share. The record date is set for 1 April 2026, with payment expected by 15 April 2026.
Chairman Eusebio Tanco said, “Despite regulatory changes, DigiPlus delivered a resilient performance in 2025, reflecting the strength of our platforms and the trust of our users.”
Strategic Moves in Land-Based Gaming
DigiPlus continued expanding its footprint beyond online operations with its investment in International Entertainment Corp. The company is involved in developing a casino integrated resort at the New Coast Hotel Manila, a project that received necessary licenses from PAGCOR. The casino began operations in January 2026, with full hotel operations scheduled for the third quarter of the year. This diversification helps mitigate risks associated with regulatory changes affecting digital revenue streams.
Wider Industry Response to Payment Regulation
The repercussions of the BSP directive impacted more than just DigiPlus. Payment providers GCash and Maya also had to remove gaming platform connections, affecting transactions and slowing overall throughput for both platform partners and suppliers. The rule remains active, necessitating that operators sustain compliant payment solutions independent of e-wallet connections. DigiPlus’s sharpest hit came in the fourth quarter, and the industry’s future will depend on how rapidly operators can reconstruct their payment ecosystems in 2026 under the ongoing directive.
- Author
Daniel Williams
