PAGCOR Revenues Dip 5% in 2025 as Land-Based Casino Performance Weakens

PAGCOR reported total revenues of Php106.03 billion in 2025, representing a 5.09% decrease compared to Php111.72 billion recorded in the previous year. The downturn was primarily linked to lower land-based casino revenues and the removal of offshore gaming from PAGCOR’s income base following regulatory changes.

Gaming operations generated Php95.15 billion, slightly below the Php97.53 billion posted in 2024. Non-gaming income streams — including interest earnings, fees, and other services — contributed an additional Php10.88 billion, partially cushioning the overall decline.

Digital Gaming Offsets Land-Based Weakness

Electronic and online gaming emerged as the largest revenue driver, accounting for Php53.33 billion, or more than half of PAGCOR’s total gaming revenues. This segment, which includes eGames, eBingo, and bingo grantees, posted a 9.3% year-on-year increase, helping stabilize the regulator’s financial performance.

In contrast, revenues from PAGCOR-operated casinos fell sharply by 18.12% to Php10.38 billion, while licensed casinos generated Php31.44 billion, down 4.93% year over year. According to PAGCOR Chairman and CEO Alejandro H. Tengco, the decline reflects a structural shift in player preferences toward digital channels.

“The reduction in land-based casino revenues highlights the ongoing change in player behavior, with more customers choosing online gaming platforms,” Tengco said, noting the growing importance of adapting regulatory frameworks to evolving consumption patterns.

Regulatory Focus and Offshore Impact

The year-on-year revenue contraction was further influenced by the offshore gaming ban. The segment had contributed nearly Php3 billion in 2024 but was no longer part of PAGCOR’s revenue mix in 2025.

In response to the expansion of online gaming, Tengco said PAGCOR has implemented enhanced regulatory measures aimed at strengthening player protection, promoting responsible gaming, and ensuring transparency across digital platforms.

Profitability and Public Contributions

Despite lower top-line revenues, PAGCOR reported net income of Php17.47 billion, marking a 4.18% increase from Php16.77 billion in 2024, underscoring improved operational efficiency.

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

Additional allocations included Php4.76 billion in franchise taxes and Php907 million in corporate income taxes paid to the Bureau of Internal Revenue. PAGCOR also directed Php2.26 billion to the Philippine Sports Commission and Php95.08 million in cash incentives for athletes and coaches achieving success in international competitions.

Socio-civic initiatives received Php12.77 billion, including programs under the Office of the President. Other beneficiaries included host cities of Casino Filipino branches (Php678.10 million), the Department of Justice’s Board of Claims (Php123.98 million), and the Renewable Energy Trust Fund (Php169.89 million), highlighting PAGCOR’s continued role in funding public and social development despite a challenging revenue environment.