PAGCOR revenue down 26.6% in first half of 2026
The Philippine Amusement and Gaming Corporation has reported revenue of US$705m for the January-June period.
The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has released its financial report for the first six months of 2026. It posted revenue of PHP43.3bn (US$705m), down 26.6 per cent compared to the same period 2025.
Revenue from gaming operations, which remained the corporation’s primary revenue source, declined 27.11 per cent to PHP38.92bn (US$633m) from PHP53.40bn a year earlier.
Alejandro H. Tengco, PAGCOR chairman and chief executive officer, said weaker revenues from the electronic gaming segment largely drove the decline. Revenue from eGames, eBingo and bingo grantees fell 41.85 per cent to PHP18.60bn (US$303m) from PHP32bn in the first half of 2025, while revenue from licensed casinos and PAGCOR-operated casinos declined 3.85 per cent and 8.67 per cent, respectively.
“Our first-half revenue results reflect the continuing impact of geopolitical tensions in the Middle East which dampened consumer spending during the first quarter and affected overall industry performance,” Tengco said. “While market conditions improved in the second quarter, uncertainties remain, particularly with the recent uptick in global fuel prices.”
PAGCOR’s net operating income during the first semester declined 35.05 per cent to PHP31.75bn (US$518m), while net income fell 85.29 per cent to PHP1.58bn (US$25.7m). This was partly due to PAGCOR’s higher mandated remittances to the Philippine Sports Commission (PSC) following the Supreme Court’s ruling requiring the state gaming agency to remit five per cent of its gross income to the PSC, instead of the previously adopted computation.
During the first half of the year, PAGCOR remitted PHP2.01bn (US$32.7m) to the PSC, up 58.68 per cent from PHP1.26bn in the same period last year. Despite the decline in revenue, PAGCOR contributed PHP30.16bn (US$492m) to nation-building.
Aside from the PSC, PAGCOR’s other mandated remittances included the National Government’s 50 per cent share (PHP18.49bn); the 5 per cent franchise tax (PHP1.94bn); funding for socio-civic projects (PHP7.36bn); host cities’ share (PHP340.05m); Corporate Income tax (PHP9.87m); and sports incentives and benefits for winning athletes, coaches and trainers under Republic Act No. 10699 (PHP4.47m).
