Good Morning. Don’t knock it until you try it. And the Philippines is on the forefront of that in regards to e-games, again boasting higher revenue for its gaming regulator (PAGCOR) derived from the online segment than its land-based counterpart. The regulator’s chairman lauds how the contributions are being spread around, contrasting cries for a shutdown of the sector. Meanwhile, land-based operations in the Philippines face continued pressure, with Okada Manila seeing its outlook cut by analysts amongst high competition. And in Macau, MGM China saw a record quarter, leveraging its market share by attracting high-quality VIPs.
What you need to know
- PAGCOR 1H25 revenue up 14% to $1.03 billion, driven by gaming and license fees; net income surges 64%, contributions to public funds rise.
- Fitch cuts Universal Entertainment outlook to negative amid weak Philippines casino performance and rising credit risk.
- MGM China sees slow performance from its peninsular property, but Cotai brought in the VIPs to boost its 2Q25 performance.
On the radar
- The Star flags losses, warns of potential collapse in Queen’s Wharf exit.
- Donaco’s Star Vegas revenue drops 31% amid Thai–Cambodian tensions.
- Australia’s Betr ups bid for PointsBet, trumping MIXI’s cash offer.
AGB Intelligence
PHILIPPINES
PAGCOR revenue rises significantly in 1H25
Despite all of the drama, the online gaming segment in the Philippines continues to contribute dramatically to the country’s finances. Looking at the most recent results, the revenue for the nation’s gaming regulator reached some $1.03 billion, a stark rise of 14 percent yearly. E-games were a primary contributor, again topping out land-based operators. This, despite calls to shutter the segment by various high-profile politicians but amongst an absence of comment from the nation’s leader in his State of the Nation Address.
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.
Industry Updates
- Sportradar introduces Bettor Sense to enhance gambling safeguards.
- Genius Sports & PMG join forces to create next-gen sports ad solutions.
- Evolution & PokerStars renew partnership across North America.
INTELLIGENCE | ASEAN | CAREERS
