Good Morning. As they say, “all bets are off” when regulatory pressure mounts against the Philippines’ gaming surge. The latest Maybank report notes that the country’s world-leading 0.68 percent e-games GDP contribution – jumping alarmingly from 0.1 percent in 2023 – comes as officials debate potential online gambling bans. This growth far exceeds developed markets’ levels. Meanwhile, integrated resort casinos in the country delivered $1.64 billion in gaming revenue during the first half of 2025. In Macau, Sands China’s admitted underperformance exposes insufficient customer reinvestment programs in early Q2 2025.
What you need to know
- Online gaming fuels 0.68% of the Philippines’ GDP, outpacing global peers and raising fresh regulation concerns: Maybank.
- Philippines’ integrated resorts post $1.64B in 1H25 gaming revenue, boosting tourism and funding social services, says PAGCOR chief Tengco.
- Sands China reports weak 2Q25 in Macau, citing soft reinvestment; stronger May–June rebound seen after April strategy shift.
On the radar
- Macau welcomed 19.2 million tourists in 1H25, a 14.9% YoY increase.
- Sands China re-investment pays off in 2Q25: Jefferies.
- PointsBet backs takeover bid from Japan’s MIXI amid rival offer.
- LT Game partners with Majestic Pride Casino in Sri Lanka.
- Australian watchdog flags ReadyBet for breaching self-exclusion rules.
- India blocks 1,500+ illegal gambling sites since 2022.
- South Korea cracks down on payment firms tied to illegal gambling.
AGB Intelligence
ONLINE
Philippines tops world in e-gaming GDP share
Online gambling in the Philippines reached a record 0.68 percent of GDP in 1Q25—the highest globally—after surging 110 percent year-on-year. For the first time, online GGR outpaced traditional casinos, though the sector now faces intense scrutiny. Regulatory reforms, advertising bans, and tax hikes are being considered, pushing Maybank to downgrade the sector outlook. Analysts await President Marcos Jr.’s next address for policy direction.
Corporate Spotlight
Why Asia’s iGaming operators must rethink risk strategy | SEON
Winning Trust, Stopping Fraud. Asia Pacific’s iGaming market is expanding extremely fast, and a new wave of digital-savvy players is pushing demand through the roof. But the rise in adoption has outpaced regulation in many markets, and fraudsters have taken notice.
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