The Philippine Amusement and Gaming Corporation (PAGCOR) has released its financial performance figures for the first nine months of 2026, reporting total revenues of PHP64.41 billion ($1 billion).
The figure represents a 23.41 per cent decline compared to the PHP84.09 billion ($1.3 billion) generated during the corresponding period in 2025. The state-run gaming regulator and operator attributed the contraction to weaker earnings across primary gaming operations and related services, alongside a steep reduction in net income.
Net income for the nine-month period dropped 84.85 per cent to PHP2.17 billion ($34 million), down sharply from PHP14.32 billion ($224.2 million) a year earlier. PAGCOR explained that the profitability decline was compounded by a Supreme Court ruling mandating the corporation to remit 5 per cent of its gross revenues to the Philippine Sports Commission (PSC), which nearly doubled its previous contribution levels to the sports agency.
Electronic gaming leads sectoral decline
Electronic gaming continued to serve as PAGCOR’s largest revenue contributor, yet it simultaneously recorded the most significant percentage decrease among all disclosed gaming segments. Alejandro Tengco, Chairman and CEO of PAGCOR, noted that electronic gaming revenues fell by 37.23 per cent, sliding from PHP44.03 billion ($689.3 million) in 2025 to PHP27.63 billion ($432.5 million) in 2026, representing a direct reduction of PHP16.40 billion ($256.7 million).
Performance across other land-based segments showed mixed results:
- Licensed casinos: Generated PHP23.10 billion ($361.6 million), down 3.22 per cent from PHP23.87 billion ($373.7 million).
- Casino Filipino branches: Operated venues recorded an 8 per cent drop to PHP7.28 billion ($114 million) compared to PHP7.91 billion ($123.8 million).
- Poker operations: Contributed PHP105.86 million ($1.65 million), reflecting a 4.60 per cent decrease from PHP110.97 million ($1.73 million).
Overall, aggregate revenues from direct gaming operations decreased by 23.44 per cent to PHP58.13 billion ($910 million). Earnings from related services fell 38.59 per cent to PHP3.04 billion ($47.6 million), while other income remained stable at PHP3.23 billion ($50.6 million).
Contrast with rising online search demand
The contraction in PAGCOR’s electronic gaming earnings contrasts with data published by market intelligence provider Blask, which tracked a surge in digital consumer interest. In September, the Philippines ranked first globally on the Blask Index for iGaming search demand, overtaking Brazil after registering an 8 per cent month-on-month and an 87 per cent year-on-year increase. Brands such as PlayTime, Casino Plus, and BingoPlus accounted for over half of the national search volume during the month, highlighting strong consumer engagement that has yet to fully mirror operator tax yields.
Despite the financial headwinds, Chairman Tengco reaffirmed the corporation’s strategic commitments.
“While we recognise the impact of lower gaming revenues on our financial performance, PAGCOR remains committed to carrying out its mandate. We will continue to pursue responsible and sustainable operations while ensuring that the gaming industry adheres to regulatory standards.”
Substantial contributions to nation-building
In parallel with its operational results, PAGCOR reported total contributions of PHP45.28 billion ($708.9 million) toward nation-building and statutory obligations during the nine-month timeframe. Key disbursements included PHP27.61 billion ($432.2 million) to the National Treasury as the government’s 50 per cent share, PHP3.01 billion ($47.1 million) allocated to the PSC, PHP2.90 billion ($45.4 million) in franchise taxes, and PHP11.19 billion ($175.2 million) directed toward socio-civic projects.
