The slump followed a strong first nine months, when profit still managed to climb 16 percent to P10.1 billion and revenues surged 30 percent to P66.8 billion on the back of new Philippine Amusement and Gaming Corp.-approved games and licenses.
The BSP’s delinking order for mobile wallets hit online gaming activity.
Third-quarter EBITDA fell 55 percent to P2.0 billion, while revenues contracted 23 percent to P19.05 billion during the quarter.
Management’s view
“This period demonstrates DigiPlus’ resilience amid temporary setbacks. Throughout this period, we continue to focus on digital innovation, player protection, and good governance,” DigiPlus chair Eusebio Tanco said in a statement on Thursday.
“As we grow our business and expand responsibly into new markets, we remain focused on upholding global corporate governance and responsible gaming standards, while creating positive impact on the Filipino nation,” he added.
Analysts’ view
Alfred Benjamin R. Garcia, research head at AP Securities, noted that DigiPlus is running behind its full-year forecast, with earnings at 61.5 percent of the year-end projection.
Still, he observed that DigiPlus’ revenues fared better than the industry average, which Pagcor earlier estimated at about 50 percent.
AP Securities has a “buy” rating on the stock, with a price target of P36.90 per share.
Government payments rise
DigiPlus said government payments reached P25.6 billion in the nine-month period, up 9 percent year-on-year, though its third-quarter remittances fell 26 percent.
DigiPlus responded swiftly to regulatory headwinds by reinforcing consumer safeguards. “In response, DigiPlus took proactive measures to enhance player protection and customer service platforms,” the company said.
“In partnership with Philippine First Insurance Co. Inc., the company introduced the country’s first surety bond program for online gaming players, providing financial protection of up to P1 million per verified player wallet,” it added.
Share price under pressure
DigiPlus shares slipped 2.44 percent to P24 each as of this writing.
The milestone capped DigiPlus’ rapid rise as one of the market’s most traded and valuable stocks, following its inclusion in the Philippine Stock Exchange Index (PSEi) on August 18, 2025. The inclusion was based on the company’s market capitalization, liquidity, and compliance with the PSE’s index eligibility criteria.
—Edited by Miguel R. Camus
