Philippines Gaming Revenue Falls 15.9% in Q1

Philippine Amusement and Gaming Corporation reported that total gross gaming revenue for the Philippine gaming industry reached PHP87.60 billion (US$1.42 billion) during the first quarter of 2026, representing a 15.9% decline compared to the same period last year.

According to PAGCOR, the decrease was mainly linked to weaker performance across the electronic gaming sector, while licensed casinos continued to account for the largest share of industry revenue.

Electronic gaming revenue fell 22.4% year-on-year to PHP39.90 billion between January and March 2026. The segment includes e-games, e-bingo, bingo grantees, as well as onsite and offsite poker operations. Despite the decline, electronic gaming still represented approximately 45.6% of total gross gaming revenue during the quarter.

PAGCOR stated that softer results within the electronic gaming segment played a major role in the overall reduction in industry performance.

Alejandro Tengco said the first-quarter results reflected the impact of economic pressures and changing market conditions. He cited weaker discretionary spending, geopolitical tensions in the Middle East and inflationary challenges as contributing factors behind the decline.

Licensed commercial casinos remained the largest revenue source during the quarter, generating PHP44.52 billion in gaming revenue. However, this figure was 9.7% lower than the previous year and represented around 50.8% of total industry GGR.

Meanwhile, PAGCOR-operated Casino Filipino properties generated PHP3.17 billion during the three-month period ending 31 March 2026, down 8.1% year-on-year. The segment accounted for roughly 3.6% of total industry revenue.

Despite the weaker start to the year, Tengco said the regulator remains optimistic about the sector’s longer-term outlook. He noted that operators continue investing in integrated resort developments, digital gaming technologies and responsible gambling initiatives.

Tengco added that easing geopolitical uncertainty and improving consumer confidence could help support stronger industry performance later in the year.

The Q1 results followed a stronger performance during 2025, when the Philippine gaming industry recorded total gross gaming revenue of PHP396.14 billion, up 6.4% compared to 2024. PAGCOR stated that electronic gaming was the largest contributor during that period, generating PHP201.12 billion in revenue and offsetting weaker results from traditional casino operations.