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The Philippines’ gaming industry remained broadly stable in Q3 2025, though performance diverged across segments. Online betting continued to expand, while land-based casinos declined and e-gaming slowed after a central bank order severed e-wallet links wi

For the quarter ending September 30, 2025, the Philippines’ total gaming revenue remained flat year-on-year at PHP 94.5 billion (USD 1.6 billion). Although online gaming revenue rose by 17.4%, the increase was largely offset by a 10.2% decline in earnings from licensed land-based casinos. The e-gaming segment, once poised for stronger growth, saw its momentum weaken following the Bangko Sentral ng Pilipinas’ directive requiring e-wallets to cut ties with gambling sites.

According to data from the Philippine Amusement and Gaming Corporation (PAGCOR), total e-gaming revenue climbed to PHP 42 billion (USD 712 million) in Q3 2025, up from PHP 35.7 billion (USD 605 million) a year earlier — largely driven by July’s strong performance. However, after e-wallets were required to disconnect from licensed platforms, revenues declined sharply in August and September.

PAGCOR Chairman and CEO Alejandro Tengco stated, “These figures reflect how the industry is gradually adapting to necessary regulatory safeguards.”

He added, “While the e-wallet disconnection caused a short-term dip in gaming activity later in the quarter, these measures are vital to protect players and ensure safe, transparent transactions.”

Land-based casino GGR fell 10.2% to PHP 45.6 billion (USD 773 million), accounting for 48.2% of the sector’s total. E-gaming made up 44.4%.

PAGCOR-operated casinos reported a revenue drop of 11.6% to PHP 3.22 billion (USD 54.6 million), representing 3.4% of the total, while bingo revenue declined 16.2% to PHP 3.79 billion (USD 64.2 million), accounting for 4.0%.

Since early 2025, land-based casinos have continued to face headwinds, with VIP gaming volumes declining — partly due to restrictions on offshore operators (POGOs) — and a downturn in visitors from key markets such as South Korea and China.