TLDR Moody’s Ratings assigned DigiPlus Interactive Corp its first credit rating, a B1 with a stable outlook. Moody’s expects DigiPlus’s 2026 EBITDA to fall 20.3% to about $181.8 million. A 2025 Philippine central bank rule cutting mobile wallet access to gaming apps is driving the drop. DigiPlus controls 38.5% of the Philippine online gaming market with 6 million monthly users. The company is expanding into land based casinos and new markets including Brazil, South Africa, and New Zealand.
Moody’s Ratings has given DigiPlus Interactive Corp its first credit rating. The rating agency assigned a B1 corporate family rating with a stable outlook.
A B1 rating sits below investment grade. Moody’s said DigiPlus’s strong market position, low debt, and steady cash flow support the score.
At the same time, Moody’s pointed to risks. These include changing regulations, tough competition, and the company’s expansion plans.
Moody’s also forecast a drop in DigiPlus’s earnings this year. The agency expects 2026 EBITDA of about PHP11.4 billion, or $181.8 million.
That would be down from PHP14.2 billion in 2025, a decline of 20.3%.
Regulatory Changes Cut Into Revenue
The expected drop traces back to a Philippine central bank rule from August 2025. It required mobile wallet and payment providers to cut off direct in-app access to online gaming platforms.
Moody’s said this reduced online gross gaming revenue across the industry. Lower consumer confidence, rising fuel costs, and general inflation added further pressure.
DigiPlus felt the impact directly. Its second quarter EBITDA fell 36.9% to PHP2.84 billion.
Moody’s expects earnings to recover in the coming years. It projects DigiPlus’s EBITDA to climb back to between PHP14 billion and PHP15 billion in both 2027 and 2028.
That recovery is expected to come from organic growth, the consolidation of International Entertainment Corp, and returns from