PhilWeb Posts P64.2 Million Q3 Profit as Digital Platform Revenue Hits 64% of Group

PhilWeb Corp. Reported third-quarter 2026 net income of P64.2 million, up 36 percent from P47 million in the previous quarter, as its digital platform business for licensed gaming operators brought in nearly two-thirds of group revenue. The Inquirer reported the results on November 13, 2026.

PhilWeb's Digital Platform Drives Q3 Revenue

PhilWeb is a gaming technology provider backed by Lance Gokongwei, who was elected chairman in August 2026. The company said the quarter was its third straight profitable quarter this year. It earned P13.9 million in the first quarter, bringing nine-month net income to about P125 million.

Third-quarter revenue more than doubled to P443 million from P175.2 million a year earlier, and rose 26 percent from the second quarter. Revenue from business-to-business digital solutions climbed 40 percent quarter-on-quarter to P281.3 million, accounting for 64 percent of group revenue, up from 57 percent last quarter. Revenue from legacy operations rose about 6 percent to P161.6 million.

Earnings before interest, taxes, depreciation and amortization rose 33 percent from the second quarter to P68.4 million. The Ebitda margin reached 15.4 percent, while the net profit margin improved to 14.5 percent from 13.3 percent.

PhilWeb said OkadaPlay, a gaming platform it powers, surpassed P100 million in monthly gross gaming revenue and 100,000 daily active users in October. The company also said its investment in JKS Tech Solutions was in the final stages of closing. Under a previously disclosed cross-investment arrangement, JKS acquired PhilWeb shares at an agreed price of P16.50 apiece. The companies are exploring closer integration of their operations and a possible control arrangement that could allow PhilWeb to consolidate JKS' financial results, depending on the final structure and applicable accounting requirements. Third-quarter results excluded any earnings contribution from JKS.

PhilWeb ended September with P2.22 billion in cash reserves. Shareholders' equity reached P1.895 billion, reversing a P255-million deficit at the end of 2025.

"Looking ahead, PhilWeb remains focused on deepening relationships with licensed operators, expanding its digital platform and content capabilities, and executing strategic opportunities that reinforce its technology-first business model and long-term value creation," the company said.

Gokongwei's Investment and the JKS Stake

Lance Gokongwei was elected PhilWeb chairman on August 27, 2026, succeeding Crisanto Roy B. Alcid, following a P2.02 billion strategic equity investment, the Inquirer reported. His stake totaled 15 percent including preferred shares, with a P1.28 billion share purchase of 159.53 million common shares at P8 each on August 27.

In September 2026, PhilWeb and its subsidiary agreed to invest P4.23 billion in JKS Tech, a PAGCOR-listed gaming administrator for Epic Game, BusinessWorld Online reported. PhilWeb subscribed to 3.41 million shares at P394 each, while PhilWeb Capital subscribed to 7.32 million shares at the same price. In October 2026, PhilWeb said JKS secured an exclusive partnership with MegaWin to provide interactive gaming content to licensed Philippine operators, with services launching in the fourth quarter of 2026 subject to regulatory approvals, according to Malaysia Latest News.

Gaming Peers Post Mixed Quarterly Results

Dream Unlimited reported third-quarter 2026 pretax profit of CAD 15.1 million, reversing a year-earlier loss of CAD 16.9 million, The future of trading reported on November 10, 2026. Codere Online raised its full-year 2026 guidance, expecting net gaming revenue of €255–265 million and adjusted EBITDA of €20–25 million, iGB reported on November 2, 2026. Rush Street Interactive reported third-quarter 2026 revenue of $385.85 million and net income of $11.83 million, Simply Wall St reported on November 11, 2026. Angler Gaming reported an operating profit of €3.0 million for the third quarter, up from €1.7 million, Dagens industri reported on November 12, 2026.

JKS Closing and MegaWin Launch Ahead

PhilWeb said its investment in JKS Tech Solutions was in the final stages of closing. JKS' exclusive partnership with MegaWin is set to launch services in the fourth quarter of 2026, subject to regulatory approvals.