Good Morning. Everything that goes up must come down. PAGCOR experienced a 40 to 50 percent income decline following the disconnection of payment links to online gambling by major e-wallet providers, prompting debates in the Senate over the future of the sector in the Philippines. In Macau, the casino industry is experiencing softer momentum in early September, leading Citigroup to lower its gross gaming revenue forecast for the month to $2.4 billion.
What you need to know
- PAGCOR income drops up to 50% after BSP orders e-wallet cuts, sparking Senate debate on whether to ban or regulate online gambling.
- Citigroup trims Macau September GGR forecast to $2.4B on slower run rate, while HSBC projects 7–12% YoY growth.
On the radar
- Vietnam absorbs Chinese tourists shifting away from Thailand: Report.
- Century Entertainment changes auditor amid business transformation.
- China and Myanmar hold law enforcement and security ministerial meeting.
- Rich Goldman warns of a wider annual net loss of up to $13.5 million.
AGB Intelligence
ONLINE GAMING
PAGCOR income plummets 50% as E-Wallets cut ties with online gaming
The Philippine Amusement and Gaming Corporation (PAGCOR) reported a significant income decline of 40 to 50 percent after major e-wallet providers, such as GCash and Maya, cut payment links to online gambling platforms per a directive from the Bangko Sentral ng Pilipinas. This decline was noted within two weeks of the disconnection, with online gambling transactions dropping by the same percentage. The Senate hearing revealed ongoing debates about the future of online gambling in the Philippines, with some lawmakers advocating for a complete ban while others favor tighter regulation.
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