The Philippine gaming industry posted a slightly lower Gross Gaming Revenue (GGR) in the quarter ending September 30, 2025. The figure reflects recent industry reforms and tighter rules on digital payments. As the regulated gaming sector reels under legislative pressure, unlicensed operators continue to thrive, warn experts.
PAGCOR Confirms Lower Gaming GGR in Q3 2025: Quick Overview
- The Philippine gaming industry posted PHP 94.51 billion (roughly €1.381 billion) in Gross Gaming Revenue (GGR) in Q3 2025. The figures show a slight dip in Q3 earnings compared to the previous year’s PHP 94.61 billion (€1.383 billion).
- Electronic games contributed the largest portion to the tally, generating PHP 41.95 billion (roughly €613 million), compared to PHP 35.71 billion (roughly €521 million) last year.
- While July recorded the highest numbers, revenue slumped in August and September following government orders to delink e-wallets mandatorily from regulated gaming platforms.
Electronic Games Post Robust Growth Figures
The Philippine Amusement and Gaming Corporation (PAGCOR), in a press release on Tuesday, November 11, announced the gaming industry’s Q3 GGR. The report finds a slight dip in revenue compared to the same period last year. Evolving industry-wide regulations are the primary reason behind the slump.
PAGCOR data reveals that the industry generated PHP 94.51 billion (roughly €1.382 billion) in the quarter ending September 30, 2025. The numbers dropped slightly from PHP 94.61 billion (roughly €1.383 billion) in the previous year. This is in stark contrast to PAGCOR’s H1 revenue figures, which showed a 26% year-on-year (YoY) increase.
Electronic Games (E-Games) contributed the largest share, growing 17.4% YoY from PHP 35.71 billion (roughly €521 million) in 2024 to PHP 41.95 billion (roughly €613 million) in 2025. PAGCOR Chairman and CEO Alejandro H. Tengco stated that E-Games’ growth was primarily due to strong demand in July.
However, the numbers dropped in August and September following the government’s order to delink e-wallets from remote gaming platforms. Tengco explained that these measures were essential for safeguarding consumer interests, ensuring transparency, and preventing gambling harm.
Tengco noted:
The figures reflect an industry that is adjusting to necessary safeguards. The delinking of e-wallets resulted in a short-term decline in activity toward the latter part of the quarter,” he said. “However, these measures are vital to protect players and ensure secure, transparent transactions.
He also cautioned that while regulated operators continue to follow established protocols, illicit online gambling activities are on the rise, putting players at risk. The PAGCOR CEO urged the public to exercise caution and use the PAGCOR Guarantee platform to verify operators’ credentials before signing up for online gaming.
Tengco said:
These unauthorised platforms do not follow responsible gaming standards, do not pay taxes, and put players at risk of data theft and fraud. We urge the public to avoid illegal sites and to engage only with PAGCOR-licensed platforms.
Casino Earnings Experience Significant Drop
Apart from E-Games, all other gaming verticals posted a sharp decline in Q3 revenue. Revenue at PAGCOR-operated casinos declined 11.6% YoY, from PHP 3.64 billion (roughly €53 million) to PHP 3.22 billion (roughly €47 million) between 2024 and 2025. Licensed online casinos experienced a similar revenue drop.
Online gaming platforms generated PHP 45.56 billion (roughly €665 million) in Q3 2025, as compared to PHP 50.72 billion (roughly €741 million) during the same period last year. The figures represent a 10.2% dip in quarterly earnings. Bingo revenue also dropped 16.2% from PHP 4.52 billion (roughly €66 million) to PHP 3.79 billion (roughly €55 million).
The figures are expected to drop further in the next quarter, as the Philippine government has banned offshore gambling operations. PAGCOR-operated casinos will continue to function, and it remains to be seen how the market adjusts to the sudden shift in regulatory dynamics.
In the latest GGR share, licensed casinos account for 48.2% of the market, followed by E-Games, representing 44.4%. With a 4% GGR share, Bingo holds the third spot, followed by PAGCOR-operated casinos, which comprise 3.4% of total GGR. Despite the dismal performance in the last quarter, Mr Tengco is hopeful of a revival.
The delinking order on e-wallets from online gambling platforms, followed by the recent ban on offshore gaming, will impact the Filipino gambling industry. Mr Tengco is hopeful that the revenue figures will improve over the next few months as operators and players adapt to the changes.
PAGCOR is taking the initiative to bolster consumer safety. The regulator recently collaborated with the National Privacy Commission to strengthen data privacy in online gambling. In July, PAGCOR signed a Memorandum of Understanding (MoU) with the Ad Standards Council (ASC) to regulate gambling ads in public.