Gamblers retreat, Pagcor revenues fall

The Philippine Amusement and Gaming Corp. (PAGCOR) reported a 23.44% decline in revenues from gaming operations to P58.13 billion in the first nine months of 2026, dragged down by a sharp contraction in electronic gaming revenues.

In a statement on Thursday, the state-run gaming regulator and operator said gaming revenues fell from P75.93 billion in the same period last year, reflecting weaker performance across its major gaming segments.

PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco attributed the decline mainly to the electronic gaming sector.

“Revenues from electronic gaming declined considerably by 37.23% from P44.03 billion in 2025 to P27.63 billion this year,” he said.

Electronic gaming remained PAGCOR’s largest source of gaming revenues, accounting for nearly 48% of the total during the nine-month period.

Revenues from licensed casinos, the second-largest contributor, fell by 3.22% to P23.10 billion from P23.87 billion a year earlier.

Meanwhile, revenues from PAGCOR-operated Casino Filipino branches declined by 8% to P7.28 billion from P7.91 billion.

Revenues from poker operations also decreased by 4.6% to P105.86 million from P110.97 million.

PAGCOR’s total revenues, including income from other services, fell by 23.41% to P64.41 billion from P84.09 billion in the same period last year.

Revenues from other related services dropped by 38.59% to P3.04 billion, while other income was nearly unchanged at P3.23 billion from P3.20 billion.

The agency’s net income plunged by 84.85% to P2.17 billion from P14.32 billion a year earlier.

PAGCOR said the sharp decline in net income also followed a Supreme Court ruling requiring the agency to remit 5% of its gross revenues to the Philippine Sports Commission (PSC), nearly doubling its previous remittance levels to the sports agency.

Despite lower revenues, PAGCOR reported P45.28 billion in contributions to government programs and other statutory obligations during the nine-month period.