The Philippine Amusement and Gaming Corp. (PAGCOR) said its revenue fell 26.64% in the first half of the year, dragged down by a sharp drop in earnings from electronic gaming operations. In a report by BusinessWorld, the state-run gaming regulator posted P43.32 billion in revenue for the six months ending June.
In a statement on Thursday, PAGCOR attributed the decline to “the continuing impact of geopolitical tensions” that have affected electronic gaming operations. The agency did not provide a comparative figure for the same period last year but noted that the first-half results reflect a challenging environment.
The revenue drop comes amid broader headwinds for the Philippine gaming industry, which has been recovering from pandemic-era closures. PAGCOR, which also regulates casinos and other gaming establishments, may face continued pressure if geopolitical uncertainties persist.