{"id":14490,"date":"2026-11-11T08:23:23","date_gmt":"2026-11-11T08:23:23","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=14490"},"modified":"2026-11-11T08:23:26","modified_gmt":"2026-11-11T08:23:26","slug":"philippine-gaming-market-continues-to-decline-but-at-a-slower-pace-in-q3","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2026\/11\/11\/philippine-gaming-market-continues-to-decline-but-at-a-slower-pace-in-q3\/","title":{"rendered":"Philippine Gaming Market Continues to Decline, but at a Slower Pace in Q3"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>PAGCOR <\/strong>has hailed signs of recovery in the Philippines\u2019 gaming market, but revenue remains down for the third successive quarter.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The country\u2019s gaming regulator reported that the market returned gross gaming revenue (GGR) of P83.7bn (\u00a3985.2m) in the third quarter of 2026, down 11.41% from P94.5bn (\u00a31.11bn) in Q3 2025.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, PAGCOR\u2019s Chair and Chief Executive Officer, <strong>Alejandro Tengco<\/strong>, said a slower pace of decline is an \u2018encouraging development\u2019 for a market that continues to be affected by the economic downturn caused by tensions in the Middle East.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For comparison, GGR fell 15.87% and 20.3% year-on-year in Q1 and Q2, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tengco emphasised that inflationary pressures and geopolitical uncertainties continue to impact consumer spending on discretionary activities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He added: \u201cThese conditions have affected spending on discretionary activities, including gaming, and contributed to the weaker performance of certain segments.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In each quarter, most of the revenue decline has come almost exclusively from the electronic gaming sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Q3, GGR from the sector dropped 22.86% year-on-year to P35.28bn (\u00a3415.3m) (Q3 2025: P45.73bn). On the other hand, GGR from licensed casinos remained stable, at P45.4bn (\u00a3534.4m).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These results mean licensed casinos now account for 54.2% of total industry revenues, underscoring that electronic gaming is more exposed to wider economic trends and lacks the insulation provided to land-based venues by international tourists and wider resort visitors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Tengco said: \u201cWe will continue to work closely with our licensees to strengthen industry performance while ensuring that gaming activities are conducted responsibly and in accordance with regulatory standards.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Potential tax troubles ahead<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Amid these challenges, the threat remains of further financial burdens in the form of a tax on online gaming that the Department of Finance is considering.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Former Executive Secretary <strong>Ralph Recto<\/strong> originally suggested the policy last year as the debate over the future of online gaming ramped up. Finance Undersecretary <strong>Karlo Adriano<\/strong> told local reporters that any proposal will need Finance Secretary Frederick&#8217;s approval before it goes to President Marcos for consideration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to <strong>DigiPlus,<\/strong> the country\u2019s largest operator, the company\u2019s financial NGR after-tax margin, measured against gross gaming revenue, now sits at 40%, and it paid P13.9 billion in taxes and regulatory fees through the first nine months of 2026.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Further levies would add pressure to a licensed sector that continues to contend with a black market that still attracts about 50% of total spend.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Don\u2019t forget to subscribe to our <a href=\"https:\/\/t.me\/sbceurasia\">Telegram channel<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PAGCOR has hailed signs of recovery in the Philippines\u2019 gaming market, but revenue remains down for the third successive quarter. The country\u2019s gaming regulator reported that the market returned gross gaming revenue (GGR) of P83.7bn (\u00a3985.2m) in the third quarter of 2026, down 11.41% from P94.5bn (\u00a31.11bn) in Q3 2025. However, PAGCOR\u2019s Chair and Chief [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":12700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[5,1],"tags":[8946,1113,1110,124],"class_list":["post-14490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gambling","category-news","tag-alejandro-tengco","tag-pagcor","tag-philippines","tag-regulations"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Philippine Gaming Market Continues to Decline, but at a Slower Pace in Q3 - SBC EURASIA EN<\/title>\n<meta name=\"description\" content=\"PAGCOR has hailed signs of recovery in the Philippines\u2019 gaming market, but revenue remains down for the third successive quarter.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sbceurasia.com\/en\/2026\/11\/11\/philippine-gaming-market-continues-to-decline-but-at-a-slower-pace-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Philippine Gaming Market Continues to Decline, but at a Slower Pace in Q3 - 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