DigiPlus rises to 215 in Fortune Southeast Asia 500 rankings

Dig Deeper

The Backstory

A regional ranking built on rapid scale

DigiPlus Interactive’s climb in the Fortune Southeast Asia 500 rankings reflects a company that has become one of the clearest public-market proxies for the Philippines’ online gaming boom. The latest ranking, based on revenue across seven Southeast Asian markets, places the operator in a regional corporate peer group well beyond gambling, underscoring how quickly licensed digital wagering has moved from a niche entertainment segment into a mass-market consumer business.

The company’s reported PHP84.2 billion in 2025 revenue, up 12% from a year earlier, also shows why investors and regulators are watching the sector closely. DigiPlus has built its position through BingoPlus, ArenaPlus and GameZone, platforms that combine digital casino products, sports-linked offerings and localized entertainment. Its addition of more than 500 games over the year points to the core growth strategy: keep users engaged with a widening content library while pushing the business further into mainstream digital entertainment.

That scale, however, has brought new scrutiny. DigiPlus’ rise in the ranking comes after a period in which the company has had to adjust to tighter rules on payments, rising competition and questions about how fast online gambling can grow while maintaining consumer safeguards.

Content strategy leans on local recognition

One of DigiPlus’ most visible responses to intensifying competition has been to make its products more culturally specific. The company recently rolled out a set of Manny Pacquiao-branded digital casino games, using one of the Philippines’ most recognizable sports figures to deepen engagement across its platforms. The launch, detailed in DigiPlus’ Pacquiao-linked igaming titles, included games such as Super Ace Pacquiao and Boxing King Pacquiao, with Filipino-themed visuals and references to the boxer’s career.

The significance of that partnership is less about celebrity endorsement alone than about product differentiation. In online gaming, customer acquisition costs can rise quickly when multiple operators compete for the same digital wallet. A recognizable local figure gives DigiPlus a way to make its games feel more familiar to domestic users while reinforcing the company’s pitch that it is building an entertainment ecosystem rather than a simple wagering channel.

The Pacquiao games also illustrate how DigiPlus is trying to balance scale with brand durability. Celebrity content can draw traffic, but it also raises the stakes for responsible gaming controls, customer service and product reliability. The company has said it has expanded player protection measures, including in-app tools, more customer service channels and a player surety bond program. Those steps are now part of the broader narrative around its revenue base and regional ranking.

Payments disruption tested the model

The company’s recent performance has not been a straight line. DigiPlus reported a sharp first-quarter earnings decline after regulatory changes disrupted payment access for online gaming platforms. In its first-quarter earnings report, the operator said net income fell 33% year-on-year to PHP2.8 billion, while revenue dropped 25% to PHP17.2 billion and EBITDA declined 42%.

The main pressure came from the delinking of licensed gaming platforms from major e-wallet access points. The Bangko Sentral ng Pilipinas’ August directives led major providers to remove gambling-related access from their wallets, disrupting transaction flows and user activity. For a digital gaming operator, that change went directly to the business model. User conversion, deposit frequency and play volume all depend on low-friction payment channels.

DigiPlus said the quarter showed sequential stability, with revenue broadly consistent against the previous quarter and net income improving 15%, aided by financial investment gains. Still, the episode highlighted a central risk for the company and the wider Philippine market: regulatory changes outside gaming law can have immediate commercial effects. Payments policy, anti-money laundering expectations, consumer protection rules and public concern over gambling access can reshape the operating environment faster than new games or promotions can offset.

New channels became a strategic priority

After losing access to GCash and Maya as gambling-linked payment routes, DigiPlus moved to rebuild its payments infrastructure. The company’s partnership with Bayad Center, described in its post-e-wallet ban payment arrangement, gave users a new cash-in channel through more than 800 branches and affiliated outlets, including locations in malls and convenience stores.

The Bayad deal shows how the operator is trying to reduce dependence on any single digital payments route. It also marks a shift from pure convenience toward resilience. E-wallets offered speed and familiarity, but their removal exposed a concentration risk. By adding an accredited payment provider with a physical network, DigiPlus can keep serving users who are willing to transact offline or through more structured payment points.

Cash-out services through Bayad were planned for phased implementation, indicating that the company’s payments rebuild is still evolving. The broader issue is whether alternative channels can restore the transaction volume and ease of use that e-wallets provided. If they can, DigiPlus’ revenue base may become more stable. If not, the company may need to lean harder on product innovation, promotions and international expansion to offset domestic friction.

Leadership shift tied to expansion plans

DigiPlus’ boardroom changes also came at a pivotal moment. The company appointed Ping Chen as president after Andy Tsui stepped down following more than four years in the role. Chen’s appointment, covered in DigiPlus’ leadership transition, brought in an executive with experience in Asian technology and services as well as more than two decades in investment banking in Hong Kong and London.

The appointment signals that DigiPlus is preparing for a more complex phase. Its challenges now extend beyond domestic platform growth. The company must manage regulatory risk, investor expectations, capital allocation, product development and international licensing. Chen’s mandate, as described by the company, includes long-term strategy, financial performance, operational efficiency and sustainable growth.

That mix is important because DigiPlus’ public profile has risen alongside its revenue. A higher regional ranking can improve visibility with investors and partners, but it also draws more attention to governance, compliance and earnings quality. As the Philippine market matures, management’s ability to execute through policy changes may matter as much as the company’s ability to add games or sign celebrity partners.

Overseas markets offer growth and complexity

DigiPlus has also been moving beyond the Philippines. The company has launched in Brazil under the GamePlus brand and has been preparing licensing applications in South Africa. Its planned South African entry, outlined in DigiPlus’ Africa expansion plans, includes applications for a National Manufacturer License, Bookmaker License and Bookmaker Premises License with the Western Cape Gambling and Racing Board.

International expansion offers a way to diversify revenue at a time when domestic payments rules have become less predictable. South Africa’s online betting market is sizable, mobile-led and sports-driven, while Brazil’s regulated market offers access to one of the world’s most attractive betting populations. Both markets, however, require local licensing, compliance investment and products that fit user habits outside the Philippines.

The company’s regional ranking therefore captures both achievement and transition. DigiPlus has built enough revenue to stand among Southeast Asia’s larger companies, but its next phase depends on whether it can defend its Philippine base, adapt to stricter oversight and prove that its platform model travels well. The stakes are no longer limited to quarterly growth. They include whether a fast-growing Filipino igaming operator can become a durable international digital entertainment company under heavier regulatory and competitive pressure.