PAGCOR First-Half Revenues Drop 26.6% as Gaming Earnings Weaken

The Philippine Amusement and Gaming Corporation (PAGCOR) reported a 26.64-percent decline in total revenues during the first half of 2026 as lower earnings from gaming operations weighed on the state gaming agency's financial performance.

The state gaming agency has reported lower first-half revenues amid weaker gaming income.

PAGCOR's total revenues reached ₱43.32 billion from January to June, down from ₱59.05 billion in the same period last year.

Revenues from gaming operations, which remained the corporation's primary source of income, declined 27.11 percent to ₱38.92 billion from ₱53.40 billion a year earlier.

PAGCOR Chairman and Chief Executive Officer Alejandro H. 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 ₱18.60 billion from ₱32 billion in the first half of 2025. Meanwhile, revenues from licensed casinos and PAGCOR-operated casinos 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 during the first semester declined 35.05 percent to ₱31.75 billion, while net income fell 85.29 percent to ₱1.58 billion.

Tengco said the sharper decline in net income was mainly due to higher mandated remittances to the Philippine Sports Commission (PSC) following the Supreme Court's ruling requiring PAGCOR to remit five percent of its gross income to the PSC instead of using the previous computation method.

During the first half of the year, PAGCOR remitted ₱2.01 billion to the PSC, up 58.68 percent from ₱1.26 billion in the same period last year.