Pagcor reports 23.4% revenue drop in first nine months of 2026
E-gaming fell sharply and required remittances to PSC weighed on profits
Key Takeaways
- Pagcor reported total revenues of PHP64.41 billion in the first nine months of 2026, a 23.4% year-on-year decline.
- The electronic gaming segment contracted 37.2% to PHP27.63 billion and was the main driver of the revenue fall.
- Net income fell 84.9% to PHP2.17 billion, partly due to higher mandatory remittances to the Philippine Sports Commission.
- Pagcor remitted PHP3.01 billion to the PSC after a Supreme Court ruling requiring a 5% remittance of gross receipts, while total statutory obligations reached PHP45.28 billion.
Pagcor reported a 23.4% decline in total revenues in the first nine months of 2026, attributing most of the fall to its e-gaming business. The Philippine Amusement and Gaming Corp (Pagcor) said total revenues for the period to 30 September dropped to PHP64.41 billion (US$1.01 billion) from PHP84.09 billion in the same period of 2025; net income fell 84.9% to PHP2.17 billion.
Segment breakdown
Pagcor said revenues from the electronic gaming segment — which includes e-bingo, e-games and bingo grantees — contracted 37.2% year-on-year to PHP27.63 billion. Gaming operations revenues overall fell 23.4% to PHP58.13 billion. Licensed casinos were the second-largest contributor, generating PHP23.10 billion, down 3.2% from a year earlier. Pagcor-controlled venues under the Casino Filipino brand recorded revenues of PHP7.28 billion, an 8.0% year-on-year decline.
Revenues from other related services decreased 38.6% to PHP3.04 billion, while other income remained roughly flat at PHP3.23 billion.
Remittances and one-off factors
Pagcor explained that the sharper fall in net income reflected higher mandatory remittances to the Philippine Sports Commission (PSC) after a Supreme Court ruling requiring remittance of 5% of gross receipts to the sports body. The agency remitted PHP3.01 billion to the PSC in the first nine months of 2026. During the period Pagcor said its contributions to the nation and statutory obligations totalled PHP45.28 billion, which include PHP27.61 billion remitted to the National Treasury as the government’s 50% share and PHP2.90 billion in franchise taxes.
"While we recognise the impact of lower gaming revenues on our financial performance, Pagcor remains committed to carrying out its mandate," said Alejandro Tengco, chairman and chief executive of Pagcor.
Tengco had in August forecast an annual revenue decline of roughly 18% for all of 2026, to PHP86.95 billion, citing the delinking of e-wallets from online gaming platforms and geopolitical tensions in the Middle East as factors affecting consumer spend. Pagcor said it is seeing signs of improvement in gaming activity and expects the year-end peak season to soften the weaker performance of the first half.
Frequently Asked Questions
How much did Pagcor's total revenues fall in the first nine months of 2026?
Total revenues fell 23.4% year-on-year to PHP64.41 billion for the period to 30 September 2026, compared with PHP84.09 billion in the same period of 2025.
What impact did the e-gaming segment have on Pagcor's results?
The electronic gaming segment contracted 37.2% year-on-year to PHP27.63 billion and was the principal component dragging down overall revenues; the segment includes e-bingo, e-games and bingo grantees.
Why did Pagcor's net income drop so sharply?
Net income fell 84.9% to PHP2.17 billion, in part because of higher mandatory remittances to the Philippine Sports Commission: Pagcor remitted PHP3.01 billion in the first nine months following a Supreme Court ruling requiring a 5% remittance of gross receipts.
How much did Pagcor contribute to the National Treasury and other statutory obligations?
Pagcor reported contributions and statutory obligations totaling PHP45.28 billion, including PHP27.61 billion remitted to the National Treasury as the government’s 50% share and PHP2.90 billion in franchise taxes.
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Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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