Philippines Q3 Gaming Revenue Steady Amid E Wallet Restrictions

Philippine operators generated PHP94.51 billion in gross gaming revenue during the third quarter of 2025. The figure landed slightly below the PHP94.61 billion reported a year earlier, with strong e-games activity offsetting weaker performance among land-based casinos.

Good to Know

• E-games jumped 17 percent year over year
• Land-based casino revenue slipped 10.2 percent
• E-wallet restrictions affected digital gaming volume late in the quarter

Revenue from e-games reached PHP41.95 billion in Q3, up from PHP35.71 billion a year earlier. Much of that strength came in July before the mandatory removal of e-wallet links to licensed iGaming platforms. The new rule immediately slowed activity through September.

Land Casinos And Bingo Face Downturn

Land-based casinos saw revenue fall to PHP45.56 billion, a 10.2 percent drop. PAGCOR-run casinos recorded PHP3.22 billion, down 11.6 percent year over year. Bingo also declined, dropping 16.2 percent to PHP3.79 billion.

Licensed casinos accounted for 48.2 percent of all revenue in Q3, while e-games made up 44.4 percent. The shift reflects increasing digital engagement across e-bingo, e-casino, sports betting, and online poker.

Earlier Surge Triggered Pushback

The first half of 2025 delivered a very different picture. PAGCOR reported PHP214.75 billion in GGR, a 26 percent increase year over year. E-games fueled much of that jump with an 82.67 percent rise, while land-based casinos posted a smaller decline.

The rapid digital expansion prompted warnings from anti-gaming advocates, religious groups, and lawmakers. Critics argued that the growth encouraged addictive behavior among young and low-income Filipinos. Senator Juan Miguel Zubiri filed Senate Bill 142, the Anti-Online Gambling Act, which proposes shutting down all online gambling operations and blocking e-wallet providers from handling transactions. Zubiri said:

“The taxes earned are not worth the social cost.”

Senator Erwin Tulfo of the Senate Committee on Games and Amusement echoed that concern. He said:

“As long as online gambling exists, we are breeding the next generation of addicts, debtors and broken families. No amount of tax revenue can justify this human cost.”

PAGCOR Pushes Regulation Over A Ban

PAGCOR Chairman Alejandro Tengco disagreed with calls for a total shutdown and stressed the importance of oversight.

He said:

“As the country’s gaming regulator, our foremost responsibility is to ensure that growth comes with accountability. We are committed to always strike a balance between enabling industry expansion and ensuring it aligns with responsible gaming standards.”

E-Wallet Restrictions Reshape The Market

In August, the Philippine Central Bank ordered GCash, Maya, and other e-wallets to remove in-app links leading to gambling platforms. The move hit e-games performance late in Q3.

Tengco said the delinking effort caused a “short-term decline in activity toward the latter part of the quarter,” but added that safeguards are necessary for secure transactions. He said the latest figures reflect an industry adjusting to new controls.

Tulfo praised e-wallet companies for cooperating with regulators. He warned, however, that some online operators may shift activity through messaging apps such as Telegram, Viber, or shopping apps like Lazada.

Tengco urged players to avoid unlicensed operators. He said such platforms “do not follow responsible gaming standards, do not pay taxes and put players at risk of data theft and fraud.”

FAQ

What drove the increase in e-games revenue?

High engagement earlier in the quarter, particularly in July, boosted results before e-wallet restrictions reduced activity.

Why did land-based casinos decline?

Lower visitor volume and weaker retail play contributed to revenue drops across casinos and bingo halls.

What changes did regulators make to e-wallets?

GCash, Maya, and others were ordered to remove direct access links to gambling sites, limiting how players fund gaming accounts.

Why is Senate Bill 142 gaining attention?

Lawmakers concerned about addiction risk are calling for a full ban on online gambling transactions.

Where does PAGCOR stand on the issue?

PAGCOR supports tighter oversight but opposes a nationwide ban, arguing that responsible regulation protects players.

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