State-run gaming regulator and operator the Philippine Amusement and Gaming Corp (Pagcor) reported net income of PHP14.32 billion (US$243.7 million) for the first nine months of 2025, up 48.7 percent from the prior-year period, according to a Monday press release.
Total revenue in the January to September period rose 5.9 percent year-on-year to nearly PHP84.10 billion.
Pagcor stated that the bulk of its revenues in the nine months to September 30 were from gaming operations, which contributed approximately PHP75.94 billion, 8.7-percent higher than in the prior-year period.
Pagcor’s expenses stood at just over PHP19.30 billion in the first nine months of 2025, down 20.9 percent from a year earlier.
Monday’s announcement cited Pagcor chairman and chief executive, Alejandro Tengco, as saying: “Our financial performance is a clear reflection of Pagcor’s renewed focus on governance, digital transformation, as well as sustainable and responsible gaming.”
The agency’s total contributions to nation-building in the reporting period reached PHP49.86 billion, up 10.9 percent from a year earlier, Pagcor said in a separate data table.
Pagcor also paid PHP3.79 billion in franchise taxes and PHP609.9 million in corporate income taxes to the Bureau of Internal Revenue, it added.
In late October, Pagcor said it had witnessed a “sharp decline” in its income since August, which the regulator attributed to the delinking of online gambling platforms from electronic wallets (e-wallets) and a slight decline in the number of new players.
That was according to comments by Pagcor’s assistant vice president for offshore gaming licensing, Jessa Fernandez, during a hearing of the House Committee on Games and Amusements in the country’s Congress.
In August, the Bangko Sentral ng Pilipinas, the Philippines’ central bank, ordered providers of e-wallets and other digital payment systems to remove links that provided access from their interfaces to online gambling platforms in the country.
Ms Fernandez said that since the order by the central bank, the agency’s revenues had dropped by as much as 49 percent.
“Now that we are implementing an initial minimum deposit, we have also observed that more players or patrons are refusing to continue playing with legal online gaming operators,” she added, according to local media reports.
In August, members of the Philippine Senate began discussing stricter regulation of the country’s online gambling sector, including bills proposing a ban.
Pagcor had previously stressed the importance of public revenue derived from legal online gaming activities in funding education, healthcare, and community development initiatives across the country.
Alejandro Tengco, chairman and chief executive of Pagcor, has stated that tighter control, not a total ban, should be the way forward for the nation’s online gambling sector.
