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The Philippine Amusement and Gaming Corporation (PAGCOR) reported gross gaming revenue (GGR) of PHP396.14 billion ($6.6 billion) for 2025, marking a 6.39% increase from PHP372.33 billion ($6.2 billion) in 2024, as rapid growth in online and electronic gaming offset a decline in land-based casino revenues.
Data from the regulator showed the electronic and online gaming segment generated PHP201.12 billion ($3.4 billion), up about 30% year-on-year from PHP154.66 billion ($2.6 billion), with the category covering e-games, e-bingo, bingo grantees, and both onsite and offsite poker operations.
PAGCOR Chairman and CEO Alejandro Tengco said the segment had become the industry’s main growth driver. “The E-Games and online gaming segment accounted for 50.77% of total industry GGR,” he said, adding that it “has overtaken licensed casinos as the largest GGR contributor.”
The shift underscores a structural change in the Philippine gaming market, where traditional casinos have long dominated. Revenues from licensed casinos fell about 9.58% to PHP182.50 billion ($3 billion) in 2025, down from PHP201.84 billion ($3.4 billion) a year earlier. Meanwhile, PAGCOR-operated Casino Filipino venues recorded a sharper decline of around 21% to PHP12.52 billion ($208.7 million).
Tengco said the figures reflected evolving consumer behaviour. “The increase in electronic gaming revenues shows how the industry has evolved,” he said. “Online gaming is no longer a supplementary segment but has now become the leading driver of overall GGR growth.”
Despite strong annual performance, the online segment faced headwinds during the third quarter after the delinking of e-wallets and the introduction of tighter digital payment rules, which disrupted access and coincided with a decline in new players.
Tengco said the changes were part of regulatory efforts “to improve transaction traceability, protect players, and strengthen confidence in regulated online gaming.”
“The 2025 GGR performance underscores the importance of regulatory balance as the industry evolves,” he said. “Our objective is not simply to grow revenues, but to ensure that growth is sustainable, transparent, and compliant because of a stronger regulatory environment that supports the long-term stability of the gaming industry.”
The broader sector also faces external pressures, including geopolitical tensions, rising fuel costs, and weaker travel demand, which have weighed on land-based operations.
“This is not a good time for everyone,” Tengco said. “Gaming jurisdictions globally are feeling the impact of the oil crisis, and even more progressive countries like Singapore, Macau, and the United States are not spared.”
“These external pressures are affecting not only gaming operators but also the local gaming industry stakeholders,” he added.