(AsiaGameHub) – DigiPlus Interactive Corp reported a significant decline in earnings for Q1 2026, as stricter regulations on online gaming payment methods limited user access and spending. Net income dropped 32.9% year-on-year to PHP2.82 billion ($45.9 million) for the three months ending 31 March.
The company’s revenue fell by 25.2% to PHP17.24 billion ($281.2 million), while EBITDA decreased by 42.5% to PHP2.64 billion ($43.0 million).
According to DigiPlus, the primary reason for the revenue decline was the inability to use e-wallets within gaming apps, making transactions difficult for users and reducing transaction volumes. Additionally, weaker consumer confidence has been driven by rising global fuel costs amid Middle East tensions.
Retail gaming generated approximately PHP17.0 billion ($277.1 million) in revenue, though this segment also saw a 25.3% decrease compared to the previous year.
Total expenses declined by 19.1% to PHP15.08 billion ($245.8 million); however, operating income fell by 49.1% to PHP2.17 billion ($35.4 million), directly linked to the drop in revenues.
DigiPlus entered into a HKD1.60 billion ($204.8 million) convertible note agreement with International Entertainment Corp. Full conversion of the notes would result in DigiPlus holding a 53.89% stake.
DigiPlus operates several platforms including BingoPlus, ArenaPlus, and GameZone, and also manages brick-and-mortar slot arcades.
In April, DigiPlus obtained an online gaming license from the Western Cape Gambling and Racing Board and simultaneously announced a multi-year partnership with the National Basketball Association via its ArenaPlus platform, becoming the NBA’s first official betting partner in the Philippines.
As of 31 March, the company held PHP20.5 billion ($334.2 million) in cash, with total debt amounting to PHP745.8 million ($12.15 million).
Maybank Securities has revised downward its revenue forecasts for DigiPlus over the next two years, citing weaker-than-expected performance and updated growth expectations.
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