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DigiPlus Interactive Corp reported stronger earnings than in the first quarter, but weaker gaming revenue left its underlying Q2 performance below analyst expectations.
Good to Know
- Q2 core net income reached PHP2.35 billion, up 8% from Q1.
- First-half revenue fell 31% to PHP32.9 billion.
- DigiPlus plans to seek a New Zealand online gaming licence.
One Off Gain Lifts Reported Profit
DigiPlus recorded Q2 net income of PHP6.98 billion after recognising a fair-value gain linked to convertible notes issued by International Entertainment Corp.
However, the investment gain did not reflect day-to-day gaming operations. Excluding it, core net income reached PHP2.35 billion, down 44% from Q2 2025. First-half core profit fell 46% to PHP4.50 billion.
Maybank Investment Bank said the six-month result covered only 33% of its full-year estimate and 39% of market forecasts. The brokerage linked the shortfall mainly to lower gross gaming revenue.
Revenue declined 31% to PHP32.9 billion in the first half, while Q2 EBITDA fell 36.9% from a year earlier to PHP2.84 billion. EBITDA improved from Q1, but the first-half margin of 16.7% remained below the Maybank estimate of 18.7%.
Changes introduced during the second half of 2025 removed direct e-wallet access to licensed gaming platforms. Maybank said that extra step continued to affect customer activity across BingoPlus, ArenaPlus and GameZone.
DigiPlus still ended June with PHP10.5 billion in cash against PHP761 million in debt. Cash had stood at PHP20.5 billion three months earlier.
Overseas Markets Offer Another Growth Route
DigiPlus plans to apply for a New Zealand online gaming permit after the government opened its licensing process in July.
The company also relaunched BingoPlus in Brazil during July and already holds online gaming licences in South Africa. Management views those markets as a way to reduce reliance on the Philippines while local regulation and payment rules continue to change.
DigiPlus said monthly active users and depositors increased during Q2 even as gaming revenue softened. The company reported an 8% quarterly increase in core profit and a 7% rise in EBITDA.
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