“In the first half of 2025, we reported around PHP24 billion to PHP25 billion ($400 million to $417 million) a quarter,” he said. “Assuming there’s no hiccup, we think we can probably achieve close to PHP90 billion to PHP100 billion ($1.5 billion to $1.66 billion) for 2025.” In the group’s recently published financial results, it didn’t specify GGR figures for FY25.
Recovery mode
According to Tsui, the de-linking took effect in mid-August and the business has been in recovery mode ever since. He said DigiPlus had spent the past six months focusing on its long-term, high-value users and migrating them to its own proprietary platform, with more than 50 percent of users now moved across.
The company is still not fully back to where it wants to be. Tsui said a full recovery is more likely in the third or fourth quarter of 2026. He added that gross gaming revenue fell by around 25 percent from the second to the third quarter of 2025, while fourth-quarter revenue was another 10 percent to 15 percent lower than the third quarter as the full-quarter impact of the disruption became apparent.
Executives said the response has included stronger recall programs, more promotional credit activity, new deposit channels such as Pay&Go kiosks and Bayad Center outlets, faster customer service response times, and new features including player balance insurance of up to PHP1 million ($16,900).
Positive outlook
Despite broader concerns around rising fuel prices and pressure on household budgets in the Philippines, DigiPlus said it has not yet seen any material impact on user behavior, though it is watching the trend closely over the next one to two quarters.
Celeste Jovenir, Vice President for Investor Relations, said the company did not view the current energy crisis as a business opportunity and would continue with business as usual rather than attempting to capitalize on economic strain.
Even so, DigiPlus believes industry conditions may improve as regulation tightens further. Tsui pointed to PAGCOR’s new minimum guarantee fee regime, under which operators will have to pay at least PHP90 million ($1.5 million) in gross gaming revenue fees or 30 percent of GGR, whichever is higher. He said that could force some smaller operators out of the market and accelerate consolidation, while the government’s continued crackdown on illegal operators could help channel more traffic toward licensed platforms.
Move into land-based
The company itself is keeping an eye on strategic opportunities. Tsui confirmed DigiPlus is proceeding with its PHP12 billion ($200 million) investment in convertible notes issued by International Entertainment Corp. (IEC), owner and operator of New Coast Hotel Manila and Casino Filipino New Coast, formerly known as Casino Filipino Waterfront. The first PHP6 billion ($100 million) tranche was paid in early March, with the balance due by the end of May or early June. If converted, the investment would give DigiPlus around 54 percent of IEC equity, although Tsui said conversion still requires Philippine Competition Commission approval and is unlikely to take effect before next year.
He said the move reflects DigiPlus’ ambition to build an omni-channel ecosystem combining online and land-based entertainment. The company is also exploring further land-based opportunities, particularly integrated resort-style assets, as well as more digital entertainment content to strengthen engagement and retention.
More in the pipeline
On product development, Tsui said DigiPlus now has more than 2,000 games across its platforms, with all live-streaming localized titles such as traditional bingo, color games and ball race developed in-house. Around 15 percent of revenue currently comes from self-developed games, a share he expects to increase over time.
The company is also using AI across promotions, product personalization, game development and responsible gaming. Tsui said AI tools help customize offers and login screens for individual players while also flagging potentially problematic behavior, allowing the company to intervene with reminders or other monitoring measures.
Internationally, DigiPlus said it is continuing preparations for Brazil, where it already holds a license, but is still developing localized content before launch. It has also applied for a South African license, with approval expected in the second quarter of 2026.
For now, however, the Philippines remains firmly at the center of its strategy. Executives argued that, despite near-term regulatory tightening, the country remains the most structured online gaming market in Asia and is already emerging as the region’s leading regulated hub.
Dingnews.com 26/03/2026