PAGCOR Nine-Month Revenue Drops 23.4 Percent as eGaming Falls 37.23 Percent
PAGCOR revenue declined 23.4% to PHP64.41 billion in the first nine months of 2026, led by a 37.23% decline in electronic gaming to PHP27.63 billion. Net income fell 84.9% to PHP2.17 billion following higher sports remittances required by Supreme Court ruling. Alejandro Tengco said electronic gaming was the main factor behind the downturn.
SCCG Take — eWallet curbs have tightened online revenue channels faster than PAGCOR anticipated, requiring operators to adjust payment flows while the regulator sustains fixed remittances amid lower GGR.
PAGCOR reported total revenue of PHP64.41 billion for the first nine months of 2026. This marks a 23.4 percent decline from PHP84.09 billion a year earlier. Net income fell 84.9 percent to PHP2.17 billion from PHP14.32 billion.
Gaming operations revenue decreased to PHP58.13 billion from PHP75.93 billion. The Philippine Amusement and Gaming Corporation attributed the results primarily to weakness in electronic gaming.
eGaming Revenue Plummets on Payment Restrictions
PAGCOR Chairman and CEO Alejandro Tengco said electronic gaming was the main factor behind the downturn. Revenues from the segment declined 37.23 percent from PHP44.03 billion in 2025 to PHP27.63 billion. The category includes eGames, e-bingo and bingo grantees and remains the largest gaming revenue source despite the drop.
The decline follows the Central Bank requirement that payment providers remove direct links between e-wallets and online gambling platforms. Licensed casinos generated PHP23.10 billion, down 3.2 percent from PHP23.87 billion. Casino Filipino branches recorded PHP7.28 billion, an 8 percent decline. Poker operations fell 4.6 percent to PHP105.86 million. Revenue from other related services dropped 38.6 percent to PHP3.04 billion while other income stayed at PHP3.23 billion.
Sports Remittances and Full-Year Outlook
A Supreme Court ruling requires PAGCOR to remit 5 percent of gross revenue to the Philippine Sports Commission. This drove payments to PHP3.01 billion in the period, nearly double previous levels. The agency nonetheless delivered PHP45.28 billion in nation-building contributions and statutory obligations, including PHP27.61 billion to the National Treasury as the government’s 50 percent share.
Tengco stated that PAGCOR remains committed to its mandate. The agency had already forecast an approximately 18 percent full-year revenue decline to PHP86.95 billion, citing the e-wallet restrictions and geopolitical tensions affecting consumer spending. Tengco noted signs of improved gaming activity that could offset some weakness by year-end, according to World Casino News.
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