In the third quarter of 2025, the total revenue of the Philippine gaming industry fell to 94.51 billion pesos, showing a downward trend. This change was mainly due to the Philippine Central Bank cutting off the connection between electronic wallets and online gaming platforms, causing industry shocks and possibly stimulating the expansion of illegal gambling activities.
1. New Regulations and Overall Industry Impact
The new regulations by the Bangko Sentral ng Pilipinas (BSP) directly led to a decline in confidence in the gaming industry. Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (Pagcor), pointed out that payment restrictions are a core factor, although aimed at protecting player safety and fund transparency, they have a short-term impact on the industry.
2. Severe Damage in the Electronic Gaming Sector
Electronic gaming (E-Games), as a main growth driver, had a revenue of 41.95 billion pesos in the third quarter, a year-on-year increase of 17.4%, but transaction volumes declined after the payment disconnection in August. The largest operator, DigiPlus, saw a net profit plummet by 59% and revenue shrink by 23%, showing that this sector accounts for 44.4% of gaming revenue, and once hindered, the entire industry is affected.
3. Traditional Gaming Data and Illegal Risks
Traditional gaming is also under pressure: licensed casino revenue fell by 10.2% to 45.56 billion pesos, Pagcor-operated casinos dropped by 11.6% to 3.22 billion pesos, and bingo revenue plummeted by 16.2% to 3.79 billion pesos. Meanwhile, illegal gambling websites are expanding opportunistically, with players turning to underground platforms, bringing risks of tax evasion and regulatory absence. Pagcor stated that it will strengthen crackdowns, expecting the market to gradually recover.
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