Revenue for the Philippine Amusement and Gaming Corp. fell 26.64% in the first half of the year, totaling 43.32 billion pesos.
The decline was largely driven by a sharp drop in earnings from electronic gaming operations, which contributed 18.6 billion pesos in revenue, a 41.85% decrease from the same period last year.
Gaming operations, the company’s main income source, reported 38.92 billion pesos in revenue, down 27.11%. Revenue from licensed and company-operated casinos fell 3.85% and 8.67%, respectively.
Net operating income slipped 35.05% to 31.75 billion pesos, while net income plunged 85.29% to 1.58 billion pesos. The steeper decline in net income was attributed to higher mandated remittances to the Philippine Sports Commission.
Remittances to the commission reached 2.01 billion pesos in the first half, a 58.68% increase from the previous year, and total contributions to nation‑building projects totaled 30.16 billion pesos.
Industry-wide gross gaming revenue for the first quarter fell 15.87% year on year to 87.6 billion pesos, reflecting weaker discretionary spending amid elevated inflation and a sluggish economy.
Economic growth in the first quarter was 2.8%, the lowest since the pandemic and well below the 5.4% recorded a year earlier. Inflation averaged 4.8% in the first half, surpassing the central bank’s target range and far exceeding the 1.8% average a year before.
Analysts predict that gross gaming revenue will remain subdued for the remainder of the year, as regulatory constraints, e‑wallet delinking, and persistent inflation continue to weigh on the sector.
Despite the challenges, the company remains focused on strengthening industry performance through sound regulation and collaboration with stakeholders to sustain meaningful revenue generation for national development.
