PAGCOR revenue falls 23.4% in 9M26 amid Philippine gaming slowdown

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a 23.41 percent drop in revenue in the first nine months of 2026, with weaker electronic gaming earnings driving declines across its main revenue streams.

Total revenue fell to PHP64.41 billion ($1.01 billion) from PHP84.09 billion a year earlier, the regulator and casino operator said in an October 29th release.

PAGCOR revenue falls 23.4% in 9M26 amid Philippine gaming slowdown

Chairman and CEO Alejandro H. Tengco identified electronic gaming as the main drag. Segment revenue fell 37.23 percent to PHP27.63 billion ($431.8 million) from PHP44.03 billion, though it remained PAGCOR’s largest source of gaming revenue.

PAGCOR’s revenue from licensed casinos, its second-largest gaming contributor, declined 3.22 percent to PHP23.10 billion ($361 million) from PHP23.87 billion.

Its Casino Filipino branches generated PHP7.28 billion ($113.8 million), down 8 percent from PHP7.91 billion. Revenue from poker operations fell 4.60 percent to PHP105.86 million ($1.65 million) from PHP110.97 million.

Overall revenue from gaming operations dropped 23.44 percent to PHP58.13 billion ($908.4 million) from PHP75.93 billion.

Earnings from other related services fell 38.59 percent to PHP3.04 billion ($47.5 million). Other income was broadly unchanged at PHP3.23 billion ($50.5 million), compared with PHP3.20 billion a year earlier.

PAGCOR revenue falls 23.4% in 9M26 amid Philippine gaming slowdown

The nine-month revenue decline was less steep than the 26.64 percent fall PAGCOR reported for the first half, although earnings remained below year-earlier levels.

The results follow a broader slowdown in the Philippine gaming market. Separate PAGCOR data showed industry-wide gross gaming revenue (GGR) fell 20.33 percent year-on-year to PHP88.13 billion ($1.38 billion) in 2Q26. Tengco attributed the decline largely to weaker electronic gaming, citing inflation and Middle East tensions as well, which weighed on discretionary spending.

Online gaming access has also faced regulatory restrictions. In August 2025, the Bangko Sentral ng Pilipinas ordered supervised financial institutions to remove links providing access to gambling sites from their mobile payment apps and websites within 48 hours.