(AsiaGameHub) – The effects of regulatory shifts, and specifically the directives issued by the Philippine Central Bank, have started to ease for the Philippines’ largest gaming operator, DigiPlus.
The operator behind brands including BingoPlus, ArenaPlus and GameZone posted a sharp drop in financial performance for the first quarter of 2026. This downturn was primarily linked to the Philippine Central Bank’s August 2025 order requiring e-wallets to be delinked from online gaming platforms, a move DigiPlus said “impacted user activity and transaction flows”.
In the days immediately after the mandatory e-wallet delinking rule was announced, the Philippines’ gaming regulator PAGCOR reported that iGaming transactions processed through licensed operators fell by 50%, while separate research showed the black market recorded a 40% rise in user numbers.
Overall, DigiPlus registered a 25% year-on-year revenue decline to P17.2bn (£206.3m). Its net income and EBITDA also dropped 33% and 42% YoY to P2.8bn (£33.6m) and P2.6bn (£31.2m) respectively.
Geopolitical headwinds
Alongside regulatory changes, DigiPlus also cited “softened consumer sentiment” caused by the ongoing global fuel crisis sparked by tensions between the US, Israel and Iran, which has prompted consumers to cut back on spending amid ongoing economic difficulties.
The company’s concerns about the wider impact of the conflict have been echoed by PAGCOR, as the body’s Chair and CEO Alejandro Tengco previously stated that the global gaming market is “feeling the effects of the oil crisis”.
“This is a tough period for everyone,” he said, speaking last month at Manila After Dark, an event hosted by Inside Asian Gaming. “Gaming jurisdictions across the world are being hit by the oil crisis, and even more developed markets like Singapore, Macau, and the United States have not been spared.”
Cause for optimism?
Despite these headwinds, DigiPlus’s Chair Eusebio Tanco said he remains confident in the company’s “long-term growth trajectory” as the firm works to address the previously outlined challenges.
He stated: “Our core fundamentals remain intact, and we remain confident in the long-term growth path of the business as we adjust our payments ecosystem, enhance player engagement, and continue to lead the way with responsible, innovative digital entertainment.”
This optimism is partially supported by broader industry trends observed across the Philippines, as total market revenue grew 6.39% YoY to P396.1bn (£4.87bn) in 2025 – primarily driven by a 30% rise in electronic gaming revenue to P201.12bn (£2.48bn) compared to 2024 figures.
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