Philippines gaming regulator records Q1 revenue growth
The Philippines is witnessing a transformative phase in its gaming regulatory landscape, with a notable surge in the iGaming sector driving impressive growth.
The Philippine Amusement and Gaming Corporation (PAGCOR) reported first-quarter earnings of PHP 28 billion (approximately $502.9 million), marking an 11.2% increase year-on-year. This achievement surpasses the government’s target of PHP 26.88 billion by 4.45%.
Revenue generated from gaming operations and licensing fees constituted PHP 25.53 billion—representing 91% of the total earnings—while business income and service fees contributed the remaining balance.
In a positive trend for operational efficiency, expenses fell by 15.5% to PHP 6.22 billion, down from PHP 7.36 billion in the previous year.
E-Games and E-Bingo: The Revenue Powerhouses
E-games and e-bingo emerged as the dominant revenue generators, accounting for 56% of total gaming revenue with a remarkable PHP 14.32 billion. PAGCOR-operated and licensed casinos followed closely, contributing 44% or PHP 11.2 billion. The net income rose to PHP 4.22 billion, reflecting a substantial 23% year-on-year increase.
“This strong performance underscores PAGCOR’s dedication to responsible governance and fiscal discipline,” stated PAGCOR CEO and Chairman Alejandro H. Tengco.
During this period, PAGCOR’s contributions to national development reached PHP 18.9 billion, a 21.5% rise compared to 2024, reinforcing its role in nation-building.
PAGCOR’s Enhanced Regulatory Role
In a significant development, PAGCOR announced an expansion of its regulatory authority. On April 30, Jeremy B. Luglug, assistant vice president of PAGCOR’s Electronic Gaming Licensing Department, revealed plans to release a Regulatory Framework for the Accreditation of Gaming Affiliates and Support Service Providers.
This framework will mandate direct accreditation of third-party providers—ranging from payment processors and marketers to KYC solution providers and testing laboratories—by PAGCOR.
This initiative represents a proactive step toward enhancing industry integrity and oversight, positioning the Philippines as a key player in the global gaming market.
Strengthening Industry Integrity to Attract Investment
Last year, President Ferdinand Marcos took decisive action by banning Philippine Offshore Gaming Operations (POGOs) amid serious allegations of criminal activity. However, following robust enhancements to its anti-money laundering, counter-terrorism, and proliferation financing measures, the Philippines has recently been removed from the Financial Action Task Force’s grey list of nations at heightened risk for money laundering.
This strategic move aims to align the Philippines with other highly-regulated gaming jurisdictions, significantly bolstering its attractiveness to international investors.
PAGCOR is also focused on its long-term strategy to divest its casino portfolio. Critics have expressed concerns regarding its dual role as both regulator and operator, identifying this as a potential conflict of interest.
The divestment of 45 PAGCOR gaming halls, including nine under the Casino Filipino brand, is projected to yield PHP 50 billion for the corporation. Although initially slated to commence this year, the sale process is now anticipated to conclude by 2026.
