PAGCOR 2025 revenues fall 5.09% to $1.79 billion as land-based casino earnings weaken

The Philippine Amusement and Gaming Corporation (PAGCOR) reported total revenues of Php106.03 billion ($1.79 billion) in 2025, down 5.09% from Php111.72 billion ($1.89 billion) in 2024, as earnings from land-based casinos declined and offshore gaming was no longer part of its revenue base.

Revenues from gaming operations fell to Php95.15 billion ($1.61 billion) from Php97.53 billion ($1.65 billion) a year earlier, while other income streams, including interest earnings and service fees, contributed Php10.88 billion.

Electronic and online gaming accounted for more than half of total gaming revenues, generating Php53.33 billion ($902 million) from eGames, eBingo, and bingo grantees. Revenues from these segments rose 9.30% year-on-year, helping to offset part of the decline in land-based gaming.

PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco said revenues from PAGCOR-operated casinos dropped 18.12% to Php10.38 billion, while licensed casinos generated Php31.44 billion, down 4.93% from the previous year.

“The decline in revenues from land-based casinos is largely driven by the gradual change in player behavior, with more customers opting for digital and online gaming platforms,” Tengco said.

“This shift underscores the need for regulators to keep pace with how players engage with online gaming products,” he added.

Tengco said PAGCOR had strengthened its regulatory framework for online gaming to address the shift toward digital platforms.

“As digital gaming continues to grow, PAGCOR has implemented significant regulatory upgrades to protect players, promote transparency, and ensure that online gaming operates within a secure and well-regulated environment,” he said.

The year-on-year drop in gaming revenues was also influenced by the offshore gaming ban, with the segment having contributed nearly Php3 billion in 2024 but no longer generating revenue in 2025.

Despite lower total revenues, PAGCOR reported net income of Php17.47 billion ($296 million), up 4.18% from Php16.77 billion in 2024.

Total contributions to nation-building reached Php66.95 billion, slightly lower than Php68.21 billion in the previous year. Of this amount, Php45.19 billion was remitted to the National Treasury as the government’s 50% share, including a Php60 million contribution to the Dangerous Drugs Board.

PAGCOR also paid Php4.76 billion in franchise taxes and Php907 million in corporate income taxes to the Bureau of Internal Revenue. The Philippine Sports Commission received Php2.26 billion, while Php95.08 million was allocated as cash incentives for athletes and coaches who won in international competitions.

An additional Php12.77 billion was earmarked for socio-civic programs, including initiatives under the Office of the President. Other beneficiaries included host cities of Casino Filipino branches, which received Php678.10 million, the Board of Claims under the Department of Justice with Php123.98 million, and the Renewable Energy Trust Fund with Php169.89 million.