PAGCOR Revenues Drop 23.4% to US$1.01 Billion in First Nine Months of 2026
PAGCOR revenues fell 23.4% to US$1.01B in 9M 2026, with eGames down 37.2% after Central Bank e-wallet delinking and tighter rules. Net income dropped 84.9% following a Supreme Court order nearly doubling PSC remittances. The figures show regulation directly constraining both operations and government funding.
SCCG Take — Tighter controls and higher mandatory remittances are squeezing PAGCOR’s dual regulator-operator model. Sustained pressure risks eroding the revenue stream that funds public programs.
PAGCOR reported total revenues of Php64.4 billion (US$1.01 billion) for the first nine months of 2026, a 23.4% year-on-year decline. The Philippine gaming regulator and operator attributed the drop chiefly to weakness in the electronic gaming segment, according to reporting by Inside Asian Gaming.
Revenues from eGames fell 37.2% to Php27.6 billion (US$432 million) from Php44.0 billion (US$689 million) a year earlier. The Central Bank’s order requiring payment providers to delink e-wallets from online gaming sites, combined with tighter regulatory controls, drove the contraction.
Traditional Casino and Poker Results
The licensed casino segment, the second-largest revenue contributor, declined 3.22% to Php23.1 billion (US$362 million). Casino Filipino branches posted an 8% revenue fall to Php7.28 billion (US$114 million), while poker operations decreased 4.6% to Php105.9 million (US$1.7 million). Overall gaming operations revenue reached Php58.1 billion (US$910 million), down from Php75.9 billion (US$1.19 billion).
Net income decreased 84.9% to Php2.17 billion (US$34 million). A Supreme Court ruling now requires PAGCOR to remit 5% of gross revenues to the Philippine Sports Commission, nearly double the prior level. Despite lower earnings, PAGCOR remitted Php45.3 billion (US$709 million) during the period, including Php27.6 billion (US$432 million) to the National Treasury as the government’s 50% share.
PAGCOR Chairman and CEO Alejandro Tengco stated: “While we recognize the impact of lower gaming revenues on our financial performance, PAGCOR remains committed to carrying out its mandate.” He added: “We will continue to pursue responsible and sustainable operations while ensuring that the gaming industry adheres to regulatory standards.”
The Regulatory Revenue Tension
Increased oversight has delivered measurable revenue pressure across both online and land-based channels. The Supreme Court mandate on remittances compounds the effect at a time when core operations are already contracting. Operators face the task of maintaining compliance while preserving financial contributions that support government programs. How PAGCOR balances these mandates will set the pace for sector stability in the quarters ahead.
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