<p>The <a href=”http://PAGCOR Q1 REVENUES HIT PHP28B; NET INCOME UP 23% TO PHP4.2B” target=”_blank” rel=”noreferrer noopener”>Philippine Amusement and Gaming Corp</a> posted earnings of PHP28 billion ($502.9 million) for the first quarter, up 11.2% year on year. That exceeds the government target of PH26.88 billion by 4.45%.</p>
<p>Gaming operations and licence fees brought in PHP25.53 billion, or 91% of the total. Business income and service fees made up the balance.</p>
<p>Expenses dropped 15.5% to PHP6.22 billion, down from PHP7.36 billion last year. </p>
<h2 class=”wp-block-heading” id=”h-egames-ebingo-generated-more-than-half-of-revenue”>Egames, ebingo generated more than half of revenue</h2>
<p>Fifty-six per cent of gaming revenue came from electronic games and ebingo, for a total of PHP14.32 billion. Licensed and Pagcor-operated casinos accounted for 44%, for a collective PHP11.2 billion. Net income came to PHP4.22 billion, up 23% year on year.</p>
<p>“This solid performance reflects Pagcor’s commitment to responsible governance and fiscal discipline,â€Â said Pagcor CEO and Chairman Alejandro H Tengco. </p>
<p>Pagcor’s contributions to nation-building for the period reached PHP18.9 billion, up 21.5% from 2024, Tengco added.</p>
<h2 class=”wp-block-heading” id=”h-pagcor-to-regulate-third-party-vendors”>Pagcor to regulate third-party vendors</h2>
<p>Pagcor also disclosed last week that it is expanding its regulatory authority.</p>
<p>In a <a href=”https://www.pagcor.ph/regulatory/pdf/announcements/Memorandum-on-Regulatory-Framework-for-the-Accreditation-of-Gaming-Affiliates-and-Support-Service-Providers.pdf” target=”_blank” rel=”noreferrer noopener”>30 April notice</a>, Jeremy B Luglug, assistant vice president of Pagcor’s <a href=”https://www.pagcor.ph/regulatory/cegs.php” target=”_blank” rel=”noreferrer noopener”>Electronic Gaming Licensing Department</a>, announced the pending release of a Regulatory Framework for the Accreditation of Gaming Affiliates and Support Service Providers.</p>
<p>The development makes third-party providers (payment processors, marketers, KYC solution providers, testing laboratories) subject to direct accreditation by Pagcor.</p>
<p>It is the next step in an ongoing clean sweep of the Philippines gaming industry, the third-largest contributor to the national treasury after the internal revenue and customs bureaus.</p>
<h2 class=”wp-block-heading” id=”h-increased-probity-to-boost-investment”>Increased probity to boost investment</h2>
<p>Last year, <a href=”https://igamingbusiness.com/legal-compliance/philippines-president-pogo-ban/” target=”_blank” rel=”noreferrer noopener”>President Ferdinand Marcos</a> banned Philippine Offshore Gaming Operations due to allegations of rampant crime. In February, following rigorous improvements in its anti-money laundering, counter-terrorism and proliferation financing frameworks, the Philippines was delisted from the <a href=”https://igamingbusiness.com/money-laundering/a-clean-slate-for-philippines-as-it-exits-fatf-grey-list/” target=”_blank” rel=”noreferrer noopener”>Financial Action Task Force</a> grey list of countries at greater risk for money laundering.</p>
<p>The strategy is to put the Philippines on par with other highly regulated gaming jurisdictions and strengthen its appeal to international investors.</p>
<p>Pagcor also continues a long-term plan to <a href=”https://igamingbusiness.com/casino/pagcor-casino-sale-pushed-to-2026/” target=”_blank” rel=”noreferrer noopener”>divest of its portfolio</a> of casinos. Lawmakers have criticised the body for its dual role as regulator and operator, calling it a clear conflict of interest.</p>
<p>The sale of 45 Pagcor gaming halls, including nine under the Casino Filipino brand, could reap PHP50 billion for the regulator.</p>
<p>The sell-off, originally set to begin this year, is now expected to be complete in 2026.</p>
