PAGCOR’s revenue fell 23.4% in the first nine months of 2026 as Philippines eGames dropped 37.2%

PAGCOR, the Philippines’ gambling regulator, reported a 23.4% year-on-year decline in revenue to US$ 1.010 billion in the first nine months of 2026. The main drag was eGames, the country’s largest revenue segment, which also matters for PSPs because payment access rules moved against online gambling flows.

1. eGames revenue fell 37.2%, from US$ 689 million in January-September 2025 to US$ 432 million in the same period of 2026. In this case, the payment side is part of the story: last year, the Bangko Sentral issued an order requiring payment service providers to remove direct links to gambling sites from e-wallets.
2. Licensed casinos, the second-largest contributor to sector revenue, also declined, though by a much smaller amount. Their revenue fell 3.22% year on year to US$ 362 million.
3. PAGCOR’s direct operations were down as well. Revenue from Casino Filipino branches dropped 8% to US$ 114 million, while poker fell 4.6% to US$ 1.7 million.
4. Revenue from gaming operations came to US$ 910 million in the first nine months of 2026, compared with US$ 1.190 billion in the same period of 2025. Adding other revenue sources brought PAGCOR’s total to US$ 1.010 billion.
5. Net profit fell 84.9% over the same period. The source ties that drop to tighter controls on digital operations, changes in access conditions for gambling-related payment services, and higher legal obligations for the regulator.