Pagcor revenues plunge 23% in Q3 as economic pressures weigh on gambling

MANILA, Philippines – Even gamblers appear to be feeling the squeeze of difficult economic conditions, as the Philippine Amusement and Gaming Corporation (Pagcor) reported a 23. 41% decline in revenue in the first nine months of 2026. Pagcor said on Thursday, October 29, that its total revenues fell to P64. 41 billion from P84. 09 billion in the same period last year. The vast majority of the lost revenue came from weaker electronic gaming, which includes eGames and eBingo. Revenues from the segment plunged 37. 23% to P27. 63 billion from P44. 03 billion. Traditional casinos also struggled, although their losses were considerably smaller. Licensed casino revenues fell 3. 22% to P23. 10 billion, while Pagcor-operated Casino Filipino branches recorded an 8% decline to P7. 28 billion.

While Pagcor’s latest announcement did not elaborate on the causes of the slowdown, the state gaming regulator had previously pointed to inflation and geopolitical tensions in the Middle East as major factors affecting the industry. In its H1 2026 earnings report , Pagcor chairman Alejandro Tengco said the Middle East conflict had dampened consumer spending during the first quarter, with rising global fuel prices adding uncertainty. In a separate August 10 statement , Tengco cited inflation and the geopolitical crisis, saying these had “weighed on consumer spending, particularly on discretionary activities. ” Indeed, Filipino consumers have been increasingly stretched by rising prices. Inflation accelerated to 7. 2% in September with further escalations expected, while economic growth slowed to just 2. 3% in the second quarter . A May survey of 800 urban Filipinos by research firm Organic Intelligence also found that 68% were dining out less, while 42% had borrowed…