Philippine gaming regulator PAGCOR has revealed a 49% in its income in the two months since the country’s central bank ordered e-wallet providers to remove direct links to online gambling platforms.
The agency’s Offshore Gaming Licensing Department AVP, Jessa Fernandez, revealed the discrepancy between forecast revenues and latest figures during an appearance at a House Committee on Games and Amusements hearing on Wednesday. Her comments were reported by local media outlet ABS-CBN.
“Based on our projections in the first half of the year, [income] was expected to be at Php60 billion (US$1.03 billion),” Fernandez said. “However, starting in August 2025, we experienced a sharp decline in income. The decline in income was up to 49%. So, we are expecting that our income may decrease by the end of 2025 compared to our projected P60 billion.”
Fernandez also explained that the decline in player volumes on licensed eGames sites could also be linked to another new regulation requiring deposits to be a minimum of Php500 (US$8.50).
“Now that we are implementing initial minimum deposit, we have also felt more players or patrons are refusing to continue playing with legal online gaming operators. So, I think it will have an impact also because some of the players deposit or top up within Php100 to Php500,” she continued.
The decline is significant because PAGCOR is required by law to contribute 50% of its earnings to the National Treasury for nation-building purposes, of which half is channelled to PhilHealth to support the Universal Health Care Program. PAGCOR also submits remittances to selected government agencies and allocates funds for socio-civic projects.
The Bangko Sentral ng Pilipinas (BSP), meanwhile, has revealed it is preparing to implement further restrictions including limits on the total amount of bets allowed at 20% of the previous day’s closing balance and a six-hour time window before topping up again, according to ABS-CBN.
PAGCOR also told the committee that the National Telecommunications Commission (NTC) has blocked 12,562 illegal gambling sites representing 93% of those identified by PAGCOR since September 2022. The Philippine National Police Anti-Cybercrime Group added that they have arrested 163 people in 12 operations under a campaign against illegal online gambling since January 2023.
RelatedPosts
