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Philippine gaming GGR falls 16% in 1Q26 on weaker e-games performance

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Philippine gaming GGR falls 16% in 1Q26 on weaker e-games performance

The Philippine gaming industry generated gross gaming revenues (GGR) of PHP87.60 billion ($1.42 billion) in the first quarter of 2026, down 15.87 percent from the PHP104.12 billion ($1.69 billion) recorded in the same period last year, according to the Philippine Amusement and Gaming Corporation (PAGCOR).

The decline was largely driven by the weaker performance of the electronic gaming sector, which includes E-Games, E-Bingo, bingo, and poker. The segment posted a combined 22.43 percent year-on-year decline in GGR during the January-to-March period.

Philippine gaming GGR falls 16% in 1Q26 on weaker e-games performance

PAGCOR Chairman and CEO Alejandro H. Tengco said the first quarter performance reflected the impact of economic headwinds and evolving market conditions.

“We attribute the first quarter dip to several factors, including softer discretionary spending amid geopolitical tensions in the Middle East, and rising inflationary pressures,” Tengco said.

Licensed casinos emerged as the industry’s largest revenue contributor during the period, generating PHP44.52 billion ($722.6 million), or 50.83 percent of total GGR.

The electronic gaming sector brought in PHP39.90 billion ($647.6 million) in gross gaming revenues during the quarter, accounting for 45.55 percent of the GGR pie. PAGCOR-operated Casino Filipino contributed PHP3.17 billion ($51.5 million), accounting for 3.62 percent of total GGR.

Tengco said he remains optimistic about the future of the local gaming industry as operators continue to invest in integrated resort developments, digital innovation, and responsible gaming initiatives.

“We remain hopeful that once the geopolitical tensions stabilize, consumer confidence and discretionary spending will also gradually recover, which should help support improved industry performance,” he said.

He added that PAGCOR’s PHP5.67 billion ($92 million) dividend remittance makes available fiscal resources that will enable the national government to mitigate the effects of the global oil crisis and pursue programs geared toward economic and social transformation.

S&P says NagaCorp unlikely to return to 2019 earnings levels soon

Viviana Chan
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S&P says NagaCorp unlikely to return to 2019 earnings levels soon

S&P Global Ratings said Cambodia-focused casino operator NagaCorp is unlikely to return to its pre-pandemic earnings levels ‘for the time being,‘ despite forecasting modest earnings growth and upgrading the company’s credit rating.

The ratings agency raised NagaCorp’s long-term issuer credit rating to ‘B+’ from ‘B’ while assigning a stable outlook, citing the company’s strengthened balance sheet, low leverage and sizable cash reserves. S&P said it expects NagaCorp’s earnings to grow at an annual rate of 5 percent to 6 percent across 2026 and 2027, supported by steady operations in Cambodia’s gaming market.

‘Despite a notable turnaround in 2025, operations still lag pre-pandemic levels, with a full recovery likely to be protracted,‘ S&P said.

According to the agency, NagaCorp reported revenue of $713 million and EBITDA of $404 million in 2025, representing around 40 percent and 60 percent, respectively, of 2019 levels. In 2019, the company generated revenue of $1.8 billion and EBITDA of $667 million, supported largely by the referral VIP segment, which contributed around 70 percent of gross gaming revenue at the time. S&P said that segment, primarily driven by junkets, is ‘unlikely to return.’

S&P said NagaCorp’s ‘stronger financial position provides a downside cushion,‘ highlighting the company’s low leverage and cash balance of approximately $372 million at the end of 2025. The company also had only a $70 million shareholder loan outstanding, due in May 2026, with S&P forecasting debt-to-EBITDA of around 0.3 times through 2026 and 2027.

The agency nevertheless warned that future capital spending and shareholder returns remain key risks. S&P estimated capital expenditure at about $170 million in 2026, rising to around $380 million in 2027 as development of the proposed Naga3 project progresses. It also estimated annual shareholder returns of between $100 million and $120 million.

S&P said the stable outlook reflects expectations that NagaCorp’s operations will remain steady over the next 12 months due to its ‘entrenched position in the Cambodian gaming industry.‘ It added that aggressive capital spending or shareholder distributions that weaken liquidity or push debt-to-EBITDA above 3 times could pressure the rating.

Cambodia’s gambling regulator inspects sealed Koh Kong casinos to verify closures

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Cambodia’s gambling regulator inspects sealed Koh Kong casinos to verify closures

Cambodia’s General Secretariat of the Commercial Gambling Management Commission (CGMC) conducted on-site inspections at two previously sealed casino locations in Koh Kong province on Friday, May 15th, to verify compliance with government enforcement measures, according to the Khmer Times.

Koh Kong is a coastal province in southwestern Cambodia, bordering Thailand and facing the Gulf of Thailand. The province has historically been a hub for casino operations catering largely to foreign visitors, given its proximity to the Thai border.

Yeth Vinel, Secretary General of the CGMC, led the working group to Koh Kong International and Long Bay Entertainment — both part of a broader crackdown that has resulted in the sealing of multiple casino venues across the country. The inspections aimed to confirm the disconnection of water, electricity, and internet services at the premises, as well as the installation of security cameras at the locations.

Earlier the same day, Vinel co-chaired a meeting with Koh Kong Province Governor ChhiVa, where officials discussed joint inspections and assessments of the sealed casino premises.

The meeting also addressed the preparation of agreements with casino owners to ensure that the venues, either wholly or partially, would not be made available for online scam activities or any other criminal offenses.

According to the CGMC, the inspections reflect Cambodia’s broader efforts to strengthen governance and transparency in the commercial gambling sector while maintaining investor confidence and supporting a secure business environment.

Macau 1Q26 MICE attendees fall 8.7% to 181,000 despite stable event count

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Macau 1Q26 MICE attendees fall 8.7% to 181,000 despite stable event count

Macau recorded 425 meetings, incentives, conferences, and exhibitions (MICE) events in the first quarter of 2026, unchanged from a year earlier, though total participants and attendees fell 8.7 percent year-on-year to 181,000, according to data released by the Statistics and Census Service (DSEC).

The decline came as the number of exhibitions dropped by one event year-on-year to 11, leading exhibition attendance to fall 20.0 percent to 128,000 attendees.

Despite the lower overall attendance, MICE-driven receipts for Macau’s non-gaming industries rose 29.4 percent year-on-year to MOP841 million ($104.4 million) in the first quarter, supported by growth in non-local participants and attendees.

DSEC said Macau hosted 399 meetings and conferences during the quarter, unchanged from the same period last year, while participant numbers increased 33.3 percent to 49,000. Corporate meetings rose 11.6 percent year-on-year, with participant numbers surging 75.1 percent to 29,000.

The city also recorded 15 incentive events, up by one event year-on-year, with participant numbers jumping 273.0 percent to 3,435.

Genting Singapore acknowledges RWS market share slide as shareholders press board

Viviana Chan
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Genting Singapore acknowledges RWS market share slide as shareholders press board

Genting Singapore‘s management acknowledged that Resorts World Sentosa (RWS) has seen its share of Singapore’s gaming market decline significantly since opening, as shareholders pressed the board on the integrated resort’s competitive position relative to Marina Bay Sands (MBS) at the company’s 41st Annual General Meeting, according to minutes released on Thursday.

During the meeting held on April 15th, a long-time shareholder cited historical data showing that RWS held a larger share of gross gaming revenue at the time of opening but had since lost ground, despite operating a casino floor comparable in size to its competitor. The shareholder attributed the decline to qualitative rather than physical capacity factors and asked what measures were being taken to reverse the trend.

Executive Chairman and Acting CEO Lim Kok Thay told shareholders that management and the team ‘remained focused on narrowing the gap in market share for the gaming business,‘ while cautioning that RWS’s ‘inherent disadvantage due to its location would remain.‘ He said competitive gaps in the gaming segment would be addressed through the SG$6.8 billion ($5.32 billion) RWS 2.0 redevelopment, with particular focus on the casino’s design, marketing and operations.

The acknowledgment comes against the backdrop of RWS’s 1Q26 results, which were dragged down by elevated transformation costs and what analysts described as a record-low VIP contribution. Revenue fell 3 percent year-on-year to SG$607.6 million ($478 million), with adjusted EBITDA down 24 percent to SG$179.0 million ($141 million) and net profit dropping 55 percent to SG$65.2 million ($51.2 million). Gaming revenue declined 8 percent to SG$403.4 million ($317 million).

Lee Shi Ruh, Resorts World Sentosa CEO, Genting Singapore
Lee Shi Ruh, COO at Genting Singapore

President and Chief Operating Officer Lee Shi Ruh told shareholders that a new leadership team had been assembled, drawing members from different industries and a younger generation, as part of a deliberate effort to reposition RWS as an ‘experience-led resort.‘ She said management was focused on internal alignment to optimise the property’s facilities across gaming and non-gaming segments.

Lim also pointed to structural differences between the two Singapore integrated resorts, noting that the Singapore Government had intended for RWS and MBS to be ‘distinct in their offerings‘ from the outset. RWS was designed as a tourism-led integrated resort with significant non-gaming obligations, including Universal Studios Singapore and the Singapore Oceanarium, while MBS was positioned to serve the business and convention segment in the central business district.

Non-gaming revenue accounted for approximately 35 percent of the group’s total revenue in 2025, with attractions contributing around SG$476 million ($374 million).

ELA Games’ King and Flame nominated for Best New Game Release 2026

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ELA Games’ King and Flame nominated for Best New Game Release 2026

ELA Games’ King and Flame has been shortlisted for Best New Game Release at the 2026 SiGMA Europe Awards, underlining the studio’s focus on delivering immersive gameplay powered by advanced math models.

Timed ahead of the major industry gathering at Casino Maltese in Valletta, Malta, on 27 May, King and Flame secures its nomination through a distinctive visual identity and a fresh take on the Hold and Win category.

Acting as a unique hook for the title, the narrative breaks away from familiar casino storytelling by flipping classic fantasy tropes upside down. Players are thrust into a volatile realm where a power-hungry prince accidentally unleashes a terrifying Dragon Queen.

What makes the gameplay exceptional is how the mechanics constantly alter the battlefield. Regular spins feature coins that pay out their exact face value, while unpredictable Mystery Chests can shatter at any moment to award instant prizes or trigger the Grand Jackpot. The grid itself transforms when the “Tamed by the Crown” feature activates, where the Dragon Queen emerges as an expanding Full Reel Wild to deliver massive royal bounties.

As players enter the Free Spins round, the stakes escalate with column-expanding coins and a Super Bonus Wheel that doubles all rewards, bringing high-volatility action into a carefully curated medieval realm.

Marharyta Yerina, Managing Director at ELA Games
Marharyta Yerina

Marharyta Yerina, Managing Director of ELA Games, commented on the nomination: “We’re very happy to see King and Flame get a nomination at the very well-regarded SiGMA Europe awards. I know the work everyone at the ELA team put into creating an intricate backstory and graphic world for this slot. It is one of the most narrative-based titles we have released to date, and the care the team put into the design has really brought that story to life. It is wonderful to see that dedication noticed on such a prestigious stage.”

Cast Your Vote

Public voting for the Best New Game Release category is officially live. If you’ve experienced the heat of battle with the Dragon Queen, we would be grateful for your support.

Brightstar Lottery secures 3-year contract extension with TIPOS in Slovakia

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Brightstar Lottery secures 3-year contract extension with TIPOS in Slovakia

Brightstar Lottery has secured a three-year extension with TIPOS a.s., with its subsidiary Brightstar Global Solutions Corporation continuing to deliver best-in-class lottery technology and related services to the Slovak operator.

TIPOS has partnered with Brightstar for over three decades, with the current agreement, signed in 2019 and extended to 2032, delivering a modern lottery central system, next-generation retail terminals, and full support services, alongside the planned introduction of up to 2,500 mobile devices to expand accessibility.

“Brightstar Lottery continues to deliver important services and innovative solutions to help us grow lottery in Slovakia,” said Štefan Vyletel, Chairman of the Management Board and CEO of TIPOS. “The success of our partnership funds a variety of good causes in Slovakia, including education and sports, and we are pleased to extend our agreement.”

“We are honored that TIPOS has entrusted us to serve Slovakia’s lottery for three decades,” shared Marco Tasso, Brightstar Chief Operating Officer International and Italy Operations. “The handheld terminals we are deploying will enable TIPOS to convert offline instant ticket sales activities to online sales at the individual ticket level, while expanding the number of points of sale locations that players can purchase draw-based lottery games. We remain firmly committed to providing TIPOS and its players with exciting and innovative lottery solutions to help drive funding for good causes in Slovakia.”

SOFTSWISS Young Fest secures five trophies at the 2026 Eventex Awards

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SOFTSWISS Young Fest secures five trophies at the 2026 Eventex Awards

SOFTSWISS has secured five accolades at the 16th Eventex Awards 2026, with recognition awarded to SOFTSWISS Young Fest, a four-day corporate festival held in Turkey to celebrate the company’s 15th anniversary.

This year, Eventex Awards received 1,405 entries from 58 countries, marking a record for the competition. SOFTSWISS Young Fest took gold in the Corporate Event category and was awarded in the following nominations:

  • Team Building – Silver
  • Data Collection and Event Analytics Technology – Silver
  • Attendee Management Technology – Bronze
  • Use of Custom-Built Technology – Bronze

SOFTSWISS Young Fest brought together over 2,000 company employees from all over the globe on the Mediterranean coast. Several days of business sessions, sports tournaments, team activities, and entertainment were all tied together by a custom-built digital platform. Leadership took part in unconventional formats, including a C-level Show where executives cooked for employees.

The team-building programme combined seven sports tournaments and four large-scale formats, linked by a shared coin-based reward system. Teams earned coins not only for winning, but for working together and completing challenges across formats. This shifted the focus from individual competition to collective engagement.

A custom analytics system tracked participation across 98 activity zones in real time, helping organisers balance activity zones and adjust the programme on the go. The same data was used for improving the participant experience through visible progress, rewards, and team standings.

The Eventex jury recognised measurable results across the SOFTSWISS Young Fest, including:

  • 9,681 tracked participation actions across team activities and tournaments;
  • 63,459 coins earned and spent through the gamified participation system;
  • 7,532 on-site and 5,249 online purchases in the merchandise store;
  • Employee NPS of 94 and an Experience Rating of 4.64 out of 5.

Commenting on the recognition, Liudmila Glasunova, Chief HR Officer at SOFTSWISS, said, “SOFTSWISS Young Fest was designed to do two things at once – celebrate the company’s 15th anniversary and give people from different teams and locations a real reason to connect. For us, it was important to build an experience where colleagues could connect naturally, feel included, and genuinely want to take part. These five Eventex awards are a great recognition of the teams behind the project and a reminder that employee events can play a powerful role in strengthening company culture when they are built around genuine engagement.”

This is the third Eventex win for SOFTSWISS. In 2024, SOFTSWISS Value Fest took home Gold for a corporate event. Last year, SOFTSWISS Kids Camp also picked up gold in the same Corporate Event category, recognising the company’s family-focused summer programme.

Bloomberry posts $2M 1Q26 loss as Solaire VIP and premium mass slump deepens

Viviana Chan
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Bloomberry posts $2M 1Q26 loss as Solaire VIP and premium mass slump deepens

Solaire operator Bloomberry Resorts Corp reported a net loss of PHP125 million ($2 million) for the first quarter of 2026, reversing the PHP3.3 billion ($53.6 million) net income posted in the same period last year, as persistent weakness in the VIP and premium mass segments at Solaire Resort Entertainment City (SEC) dragged group performance lower.

Consolidated gross gaming revenue (GGR) fell 13 percent year-on-year to PHP14.7 billion ($238.6 million), while consolidated EBITDA declined 32 percent to PHP3 billion ($48.7 million). The bottom line was cushioned by a PHP403 million ($6.5 million) gain from the sale of the Jeju Sun gaming license in South Korea and PHP358.1 million ($5.8 million) in interest expense savings from earlier debt refinancing. 

The Jeju Sun gain reflected Bloomberry’s exit from the South Korean casino market, completed in March through a demerger and share purchase agreement with a local buyer, marking the end of the group’s Jeju Sun casino operations.

The Philippine flagship property bore the brunt of the decline. Solaire Resort Entertainment City’s GGR fell 18 percent year-on-year to PHP10 billion ($162.3 million), with all gaming segments contracting. VIP rolling chip volume dropped 39 percent to PHP53.2 billion ($863.5 million), pushing VIP GGR down 29 percent to PHP2 billion ($32.5 million). Premium mass conditions also remained subdued, with mass table GGR falling 21 percent to PHP3.9 billion ($63.3 million) and electronic gaming machine (EGM) GGR down 8 percent to PHP4.1 billion ($66.5 million).

Enrique Razon, Bloomberry Resorts
Enrique K. Razon Jr., Bloomberry chairman and chief executive

“The first three months of 2026 reflected continued softness in the VIP and premium mass segments, particularly in Entertainment City,” said Enrique K. Razon Jr., Bloomberry chairman and chief executive. “We reported a net loss of PHP125 million, which was meaningfully lower than quarterly losses reported in the previous three periods.”

The Solaire Resort Entertainment City results extend a trend that has weighed on Manila’s integrated resort sector since the wind-down of the POGO industry and the broader restructuring of junket-driven VIP play in the region. Bloomberry’s premium segment underperformance comes amid intensifying competition for high-end customers among Entertainment City operators.

Solaire Resort North, Bloomberry Resorts, Philippines,

Sister property Solaire Resort North (SN) in Quezon City offered a partial counterweight, with GGR edging up 1 percent to PHP4.7 billion ($76.2 million) despite a sharp 84 percent decline in VIP GGR to PHP77.5 million ($1.3 million) on a low 1.54 percent hold rate. EGM GGR at Solaire Resort North rose 20 percent to PHP2.6 billion ($42.2 million), and property EBITDA grew 9 percent to PHP1.2 billion ($19.5 million).

Razon also pointed to external cost pressures shaping the operating environment. “We recognize that the evolving geopolitical situation in the Middle East is contributing to rising cost pressures across the operating environment; in response, we will intensify our cost cutting efforts to manage through the volatility,” he said.

Consolidated cash operating expenses rose just 1 percent year-on-year to PHP10.1 billion ($163.9 million) and declined 12 percent sequentially. As of 31 March 2026, Bloomberry held PHP31.6 billion ($512.9 million) in cash and cash equivalents.

Stake revamps flagship Crash game with upgraded visuals and gameplay

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Stake revamps flagship Crash game with upgraded visuals and gameplay

Stake has announced a major worldwide upgrade to its flagship Crash casino game, reinforcing another key step forward in the ongoing evolution of its Stake Originals portfolio.

Crash has built a global following thanks to a simple but high-intensity format – players track a rising multiplier and decide when to cash out before it suddenly drops. As one of the most recognisable titles in the Stake Originals portfolio, it sits at the heart of the platform’s in-house gaming identity, and this latest release sharpens both the look and the feel of every round.

The update introduces a refreshed look with a new graph crack animation that gives every round a more defined visual moment as the multiplier ends. The multiplier curve has been upgraded with dynamic colour gradients that evolve in real time – shifting from blue in the early stages, through green and purple, and into yellow as higher values are reached. A new player count display also shows how many participants are still active in each round, adding a stronger sense of shared, real-time gameplay.

Cashout responsiveness has been improved for faster, more consistent interactions during key multiplier moments allowing for a smoother performance. The update also enables uninterrupted gameplay during deployments, meaning Crash continues running smoothly while improvements are being rolled out in the background. Game payload optimisation and enhanced gameplay processing systems further reduce loading times and improve stability, particularly during high-activity periods, for a more reliable experience across all devices.

“Crash is one of those games that defines what a Stake Original feels like – quick, social, and full of tension in the best way,” said Akhil Sarin, Chief Marketing Officer at Stake. This update is about giving players a sharper, more responsive version of a game they already love, without ever losing what made it so appealing in the first place.”

Crash is one of Stake Casino’s most-played games, and the goal of this update is simple: keep what players love about it, and make everything around it feel sharper.

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