DigiPlus Q3 Profit Plummets, Gangwon Police Lead Gambling Gang Crackdown

DigiPlus Interactive Corp., the Philippines' dominant online gaming operator, saw profits nosedive 59% to PHP1.71 billion between July and September 2025 after central bank mandates cut e-wallet transactions with gaming platforms.

The Bangko Sentral ng Pilipinas (BSP) directive, which took effect in August, aims to mitigate online gambling risks. It forced payment providers to block access to licensed gaming apps, slashing transactions on the DigiPlus flagship brands ArenaPlus, GameZone, and BingoPlus. The order triggered a nearly 50% decline in online gaming transactions, according to Philippine Amusement and Gaming Corp. (PAGCOR) data.

Sector Turbulence

Q3 revenue fell 23% to PHP19.05 billion, with EBITDA collapsing 55% to PHP2 billion. Despite the downtown, year-to-date figures through September indicate resilience. The company's net income climbed 16% to PHP10.11 billion, and revenue surged 30% to PHP66.83 billion, driven by regulator-approved game launches and platform upgrades. The results were filed with the Philippine Stock Exchange Index (PSEi).

DigiPlus Chairman Eusebio Tanco termed he company's Q3 struggles as a resilience test, telling local reporters, "Throughout this period, we continue to focus on digital innovation, player protection, and good governance. 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 a positive impact on the Filipino nation."

Positive Outlook

Analysts acknowledged DigiPlus' relatively good performance amid the chaos. Alfred Benjamin R. Garcia of AP Securities noted revenues exceeded PAGCOR's industry forecasts, though earnings lagged behind full-year projections at 61.5%. The brokerage retained its "buy" rating despite shares dropping 2.44% to PHP24 per share by early November. The stock's inclusion in the PSEi as of August 2025 is a testament to its market capitalization and liquidity.

Cross-Border Gambling Syndicate Dismantled

Meanwhile, an illegal gambling gang with ties to the Philippines was shut down by South Korean authorities. Fourteen suspects, including the unnamed mastermind, were arrested, as confirmed by the Gangwon Provincial Police. Seven key figures remain detained.

The syndicate was active from September 2024 to March 2025. It streamed live casino feeds from overseas providers to its proprietary betting platforms. A Philippine-based "vendor company" established in September 2024 funneled casino content and laundered proceeds.

Police traced 5.3 trillion won in transactions before freezing 3.35 billion won in assets. "This pre-indictment seizure disrupts their financial infrastructure," a Gangwon official stated, linking the bust to tighter legal measures against gambling.