Manila: The Philippine Amusement and Gaming Corporation's (PAGCOR) revenues fell by 26.64 percent in the first half of the year as lower earnings from gaming operations weighed on the agency's financial performance. In a statement Thursday, PAGCOR said revenues during the period amounted to PHP43.32 billion, down from PHP59.05 billion in the same period last year.
According to Philippines News Agency, gaming operations, which continued to be the primary revenue source, declined 27.11 percent to PHP38.92 billion from PHP53.40 billion a year earlier. PAGCOR Chairperson and Chief Executive Officer Alejandro Tengco said the decline was largely driven by weaker revenues from the electronic gaming segment. Revenues from eGames, eBingo, and bingo grantees fell 41.85 percent to PHP18.60 billion from PHP32 billion in the first half of 2025, while revenues from licensed casinos and PAGCOR-operated casinos also declined 3.85 percent and 8.67 percent, respectively.
"Our first-half revenue results reflect the continuing impact of geopolitical tensions in the Middle East, which dampened consumer spending during the first quarter and affected overall industry performance," Tengco said. "While market conditions improved in the second quarter, uncertainties remain, particularly with the recent uptick in global fuel prices. Nevertheless, we remain focused on strengthening industry performance through sound regulation and close collaboration with our stakeholders to ensure that the gaming sector continues to generate meaningful revenues for nation-building," he added.
PAGCOR's net operating income went down by 35.05 percent to PHP31.75 billion, while net income likewise fell 85.29 percent to PHP1.58 billion. The steeper decline in net income was due to PAGCOR's higher mandated remittances to the Philippine Sports Commission (PSC) following the Supreme Court's ruling requiring the state gaming agency to remit five percent of its gross income to the PSC, instead of the previously adopted computation, Tengco said.
PAGCOR remitted PHP2.01 billion to the PSC, higher by 58.68 percent than the PHP1.26 billion in the same period last year. It also remitted PHP18.49 billion to the national government; PHP1.94 billion franchise tax; PHP7.36 billion for socio-civic projects; PHP340.05 million as host cities' share; PHP9.87 million corporate income tax; and PHP4.47 million sports incentives and benefits for winning athletes, coaches and trainers under Republic Act 10699.
