PAGCOR Revenue Falls 23.4% as eGames Decline Weighs on 2026 Earnings
What the numbers are saying
In the first nine months of 2026, PAGCOR tallied total revenue of PHP64.4 billion (about US$1.01 billion), down 23.4% from the same period a year earlier. The slide was driven mainly by softer performance in the domestic electronic gaming segment, with licensed casinos and PAGCOR’s own gaming operations also turning in weaker results. Net income dropped dramatically, by 84.9%, to PHP2.17 billion (roughly US$34 million), as the earnings dip coincided with a Supreme Court ruling that pushed up remittances to the Philippine Sports Commission.
eGames led the decline
Electronic gaming revenue fell 37.2% to PHP27.6 billion (US$432 million). That’s a steep retreat after PHP44.0 billion (US$689 million) in the same period last year. The online side has faced headwinds from regulatory moves—most notably the Central Bank’s order last year requiring payment providers to remove direct links to online gaming from e-wallets—plus tighter controls all around. Those changes helped pull down results, even though eGames remained the biggest money-maker for PAGCOR’s gaming business.
Casinos and related operations
Licensed casinos earned PHP23.1 billion (US$362 million), which was down about 3.2% from the previous year. Casino Filipino branches slipped 8% to PHP7.28 billion (US$114 million). Poker revenues also declined, down 4.6% to PHP105.9 million (US$1.7 million). Overall, total gaming revenue stood at PHP58.1 billion (US$910 million), 23.4% below the year-ago PHP75.9 billion (US$1.19 billion). The drop was broad-based, with eGames showing the sharpest percentage decline.
Regulatory remittance impact
A Supreme Court ruling required PAGCOR to remit 5% of its gross revenue to the Philippine Sports Commission—almost double the previous level. That higher obligation helped push down net income alongside the softer revenue.
Leadership view and outlook
Alejandro Tengco, PAGCOR Chairman and CEO, stressed that the agency would keep refining its operations and regulations. He said regulated gaming should continue to support government programs and that PAGCOR would run things responsibly and sustainably while ensuring industry compliance, even in a tougher revenue environment.
National contributions during the period
Despite the weaker numbers, PAGCOR still remitted PHP45.3 billion (US$709 million) toward nation-building and other statutory obligations in the nine months. The National Treasury received PHP27.6 billion (US$432 million), roughly half of the share, while PHP3.01 billion (US$47 million) went to the Philippine Sports Commission. The agency also paid PHP2.90 billion (US$45 million) in franchise taxes as part of its overall obligations.
Bottom line
Bottom line: nine months into 2026, the numbers show a mixed bag — eGames led the slide and remittance rules added to the pressure on net income. PAGCOR remains committed to its mandate and to keeping the gaming sector aligned with regulations, even as revenues wobble.
Source: Inside Asian Gaming
