The Philippine Amusement and Gaming Corporation (PAGCOR) reported that the third-quarter electronic gaming revenue increased by 17.4% year-over-year, reaching 94.51 billion pesos, despite government regulatory reforms. Electronic gaming contributed 44.4% of the company's total revenue, becoming the second largest source of income, while other business segments experienced declines. Chairman Alejandro Tengco is optimistic about future growth.
Revenue Data Overview
The total revenue from electronic gaming in the third quarter was 94.51 billion pesos (approximately 179 million USD), slightly lower than the 94.61 billion pesos in the same period last year. From July to September, electronic gaming revenue was 41.95 billion pesos, higher than the 35.71 billion pesos in the same period last year, accounting for 44.4% of PAGCOR's total revenue, second only to the licensed casinos' 45.56 billion pesos (48.2%).
Performance Under Regulatory Environment
Since August, the detachment of electronic wallets from online gaming platforms has led to a decrease in short-term activities, but PAGCOR believes these measures help protect players and transaction security. Government reforms include strict digital payment rules and restrictions on online gaming, but electronic gaming has continued to grow against the trend, showing resilience.
Analysis of Other Business Segments
In the same period, other sources of revenue for PAGCOR generally declined: self-operated casino revenue fell by 11.6% to 3.22 billion pesos, accounting for 3.4% of total revenue; licensed casinos decreased by 10.2%, but maintained the largest share; bingo game revenue fell by 16.2% to 3.79 billion pesos.
Future Industry Outlook
Tengco noted that as players adapt to new payment rules and the government strengthens enforcement, the electronic gaming market is expected to regain vitality. Regulating illegal platforms and new payment protocols will provide continuous growth momentum for the Philippine gaming industry.
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