The Philippine Amusement and Gaming Corporation (PAGCOR) expects its total revenue to fall by 18 percent to nearly PHP87 billion ($1.41 billion) in 2026, following a sharp slowdown in gaming activity linked to tighter payment controls.
PAGCOR Chairman and CEO Alejandro Tengco disclosed the projection during a House Committee on Appropriations budget hearing on Monday, according to reports by the Inquirer and Manila Bulletin.
The projected figure is PHP19.08 billion ($310 million) below the PHP106.03 billion ($1.72 billion) generated in 2025. PAGCOR’s 2025 revenue had already fallen by 5.1 percent from PHP111.71 billion ($1.82 billion) in 2024.
E-wallet curbs hit gaming activity
Tengco said gaming activity declined by around 40 percent after electronic wallets were delinked from online gambling platforms in late 2025, making it less convenient for customers to access and fund their accounts.
“We experienced a downtrend of about 40 percent in gaming activities because it’s not as easy as before when platforms were linked,” he told lawmakers.
Tengco said activity recovered in early 2026 before the Middle East crisis affected consumer spending, particularly among the lower- and middle-income customers who make up a significant portion of the domestic online gaming market.
PAGCOR’s latest results showed the impact of the slowdown. The regulator and operator reported a 26.64 percent decline in first-half revenue to PHP43.32 billion ($704 million), from PHP59.05 billion ($960 million) a year earlier.
Revenue from gaming operations fell by 27.11 percent to PHP38.92 billion ($632 million). Revenue from eGames, eBingo and bingo grantees dropped by 41.85 percent to PHP18.60 billion ($302 million), while contributions from licensed casinos and PAGCOR-operated casinos declined by 3.85 percent and 8.67 percent, respectively.
July activity rebounds
Tengco said gaming activity rose by 10 percent in July and remained stable in August. Integrated resorts also reported increased tourist patronage, with a slight upward trend recorded in late July and early August.
He expressed hope that the approaching peak gaming season would allow PAGCOR to recover part of the revenue weakness recorded during the first half.
