DigiPlus Interactive Corp. reported a steady improvement in online gross gaming revenues (GGR) in recent months, following a decline in the third quarter caused by new regulations that temporarily disrupted the online gaming industry.
The company said it is implementing several measures to strengthen its online gaming platform and regain growth momentum, anticipating transaction volume will return to pre-delinking levels as early as the first or second quarter of next year.
DigiPlus chairman Eusebio Tanco assured investors the company’s operating performance, regulatory standing and overall business outlook remain materially unchanged. He said the company continues to execute its strategy, with operations and financial performance tracking in line with expectations, remaining focused on disciplined capital allocation and long-term value creation.
The company’s third-quarter net income declined 59 percent to P1.71 billion, while revenues contracted 23 percent to P19.05 billion.
The drop was attributed to the regulatory directive in August that required e-wallet providers to remove online gambling features from their platforms, temporarily disrupting player activity and transaction volumes.
To support its recovery and mitigate the regulatory impact, DigiPlus accelerated the transition of players to its proprietary app-based platforms to reinforce security, accessibility and control over the user experience.
The company also expanded its payment ecosystem by adding new cash-in and cash-out options through BSP-accredited providers Bayad and Pay&Go, resulting in improved convenience and accessibility.
DigiPlus also teamed up with PhilFirst Insurance to introduce a surety bond program that insures player funds, adding a layer of financial protection for players.
DigiPlus said these initiatives are now beginning to deliver positive results. The company said it is also reviewing its advertising and marketing materials to ensure campaigns are responsibly designed, while enhancing its responsible gaming initiatives through educational campaigns.
