PAGCOR 2025: Online Gaming Surges Amid Casino Decline
The Philippine Amusement and Gaming Corporation (PAGCOR) closed 2025 with a decline in total revenue, as traditional casinos slowed and the POGO ban continued to affect earnings. Overall revenue dropped 5.1 percent to Php106.0 billion ($1.8 billion), with gaming operations contributing Php95.2 billion and other sources, including interest and service fees, adding Php10.9 billion. The results reflect a regulator navigating a shift from declining conventional sources toward rapidly growing online offerings.
Electronic and Online Gaming Drive Revenue
Digital and electronic gaming now account for more than half of PAGCOR’s revenue, generating Php53.3 billion ($904 million), a 9.3 percent increase from 2024. This category includes eGames, eBingo and bingo grantees, which performed particularly well in the first half of 2025. Online channels have become a critical buffer against declining land-based casino revenue.
Land-Based Casinos Face Pressure
Physical casinos saw revenue drop 4.93 percent to Php31.4 billion, while PAGCOR-managed properties fared worse, declining 18.12 percent to Php10.4 billion. PAGCOR chairman and CEO Alejandro Tengco attributed the declines to a shift in player behavior, with more customers preferring digital platforms over traditional casino floors.
Regulatory Adaptation to Evolving Preferences
PAGCOR is updating internet gaming regulations to keep pace with changing player behavior. Part of this effort involves enhancing transparency and safety for online platforms and revisiting payment channels. The regulator plans to propose reconnecting licensed eGames sites with e-wallet services, aiming to clearly signal which platforms are legitimate and secure.
Balancing Growth and Social Contributions
Despite declines in land-based earnings, PAGCOR’s net income rose 4.18 percent to Php17.5 billion ($297 million). Contributions to nation-building initiatives reached Php67.0 billion, slightly below 2024’s Php68.2 billion, demonstrating the regulator’s continued ability to fund social programs even amid structural changes.
Structural Transformation Underway
The 2025 results underscore a transitional period for PAGCOR. Traditional casinos are shrinking under policy pressures and evolving gaming habits, while online and electronic gaming dominate revenue streams. The regulator’s success in managing this shift, through safe platforms, improved payment systems and oversight of legitimate operators, will shape the future landscape of Philippine gaming.
