Pagcor experiences e-gaming drag as revenue falls 23pct in first 9 months of 2026

The Philippine Amusement and Gaming Corp (Pagcor) reported a 23.4-percent year-on-year decline in total revenue for the first nine months of 2026, with weaker earnings from the electronic gaming (e-gaming) segment weighing on the state gaming regulator’s financial performance. Total revenue for the nine months to September 30 fell to PHP64.41 billion (US$1.01 billion), from PHP84.09 billion in the prior-year period, according to a Thursday release. The agency’s net income declined 84.9 percent year-on-year, to PHP2.17 billion. Pagcor chairman and chief executive, Alejandro Tengco, said revenue from the electronic gaming segment – which encompasses e-bingo, e-games, and bingo grantees – fell 37.2 percent from a year earlier, to PHP27.63 billion. Overall, Pagcor’s revenue from gaming operations declined 23.4 percent year-on-year, to PHP58.13 billion. During the nine-month period, licensed casinos were the second-largest contributor to gaming revenue after electronic gaming, generating PHP23.10 billion, down 3.2 percent from a year ago. Revenue from Pagcor-controlled Casino Filipino venues fell 8.0 percent year-on-year, to PHP7.28 billion. Per the announcement, Pagcor’s earnings from other related services fell 38.6 percent year-on-year, to PHP3.04 billion, while other income was nearly flat at PHP3.23 billion. Pagcor said the sharper decline in net income reflected higher mandatory remittances to the Philippine Sports Commission (PSC), following a Supreme Court ruling requiring the agency to remit 5 percent of its gross revenue to the sports body. The regulator remitted PHP3.01 billion to the PSC during the first nine months this year. “While we recognise the impact of lower gaming revenues on our financial performance, Pagcor remains committed to carrying out its mandate,” Mr Tengco stated. He added: “We will continue to pursue responsible and sustainable operations while ensuring that the gaming industry adheres to regulatory standards.” Despite the weaker earnings, Pagcor said its contributions to nation-building efforts and other statutory obligations totalled PHP45.28 billion during the reporting period. That included PHP27.61 billion remitted to the National Treasury as the government’s 50-percent share, and PHP2.90 billion in franchise taxes. In August, Mr Tengco forecast Pagcor’s revenue would decline by about 18 percent in full-year 2026, to PHP86.95 billion. Mr Tengco cited the impact of the delinking of electronic wallets from online gambling platforms, as well as geopolitical tensions in the Middle East affecting consumer spending. He said at the time that the regulator was seeing signs of improvement in gaming activity and hoped the peak season towards year-end would help offset the weaker first-half performance.