The Philippine Amusement and Gaming Corporation (PAGCOR) has announced a huge increase of 49% in net income for the first three quarters of 2025, amounting in $243 million.
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Philippines market sees a slight revenue slowdown in Q3 2025
PAGCOR, the gaming regulator of the Philippines, announced that the gross gaming revenue (GGR) of the country experienced a slight decline in Q3 2025, reaching approximately $1.6 billion.
However, the e-games segment showed good performance, growing 17.4% year-on-year to $798.8 million from $603.4 million.
PAGCOR Chairman and CEO Alejandro H. Tengco explained that the strong performance of e-games was largely driven by robust results in July 2025, while revenues in August and September dropped following the regulator’s order to disconnect e-wallets from licensed gaming platforms.
Tengco shared in a statement:
“The figures reflect an industry that is adjusting to necessary safeguards. The delinking of e-wallets resulted in a short-term decline in activity toward the latter part of the quarter. However, these measures are vital to protect players and ensure secure, transparent transactions.”
He also warned that although legitimate operators comply with the new rules, illegal sites continue to expand, putting players at risk.
“These unauthorized platforms do not follow responsible gaming standards, do not pay taxes, and put players at risk of data theft and fraud. We urge the public to avoid illegal sites and to engage only with PAGCOR-licensed platforms.”
The third quarter in the Philippines saw e-game as the only segment reporting growth. The revenues of PAGCOR-operated casinos fell by 11.6%, from $61.5 million to $54.4 million, while licensed casinos experienced a 10.2% decline, falling from $857 million to $769.8 million. Bingo activities were also affected, losing 16.2% of their revenue, from $76.4 million to $64 million.
In terms of total GGR, the breakdown for the period showed that licensed casinos comprised 48.2%, e-games 44.4%, PAGCOR-operated casinos 3.4%, and bingo 4%.
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