PAGCOR Nine-Month Gaming Revenue Falls to PHP58.13 Billion as Electronic Gaming Drops 37 Percent

PAGCOR reported gaming revenue of PHP58.13 billion for the first nine months, a 23.44 percent decline from PHP75.93 billion a year earlier. Electronic gaming income drove the drop, falling 37.23 percent to PHP27.63 billion. PAGCOR Chairman and CEO Alejandro Tengco singled out the segment's performance as the main factor, according to Asia Gaming Brief.

Land-based results held up better. Licensed casinos delivered PHP23.10 billion, down 3.22 percent. Casino Filipino branches slipped 8 percent to PHP7.28 billion, and poker operations eased 4.60 percent to PHP105.86 million.

Third-Quarter Moderation in the Decline

First-half revenue totaled PHP43.32 billion, down 26.64 percent. The implied third-quarter revenue reached roughly PHP21.1 billion against about PHP25.0 billion the prior year, for a fall of around 16 percent. The regulator cited inflation, Middle East tensions and the 2025 removal of direct e-wallet links to online gambling platforms as contributing pressures.

Net income fell 84.85 percent to PHP2.17 billion from PHP14.32 billion. A Supreme Court ruling now requires 5 percent of gross revenue remitted to the Philippine Sports Commission, producing payments of PHP3.01 billion in the period. PAGCOR is separately weighing a sale of its Casino Filipino operations valued between $318 million and $477 million.

Tengco said: “While we recognize the impact of lower gaming revenues on our financial performance, PAGCOR remains committed to carrying out its mandate.” The agency will continue to pursue responsible operations and enforce regulatory standards across the industry.

Remittance Burdens and the Divestment Horizon

The outsized net-income decline illustrates how mandatory contributions can amplify revenue softness for a dual-role regulator-operator. Philippine licensees already operate under tightened e-gaming payment rules that have reduced activity. Any Casino Filipino transaction would alter competitive dynamics and capital requirements for private operators. Updates on the sale process and future remittance levels will set the pace for sector planning through 2027.