The Philippine Amusement and Gaming Corporation (PAGCOR) has reported a significant drop in income since August, attributing the decline to the disconnection of online gambling platforms from electronic wallets (e-wallets) and a decrease in new player registrations.
PAGCOR assistant vice president for offshore gaming licensing, Jessa Fernandez, made the statement during a hearing of the House Committee on Games and Amusements in Congress on Wednesday.
The decline follows an order by the Bangko Sentral ng Pilipinas (BSP) in August requiring e-wallet and digital payment providers to remove links to online gambling platforms. Fernandez said PAGCOR’s revenues have fallen by up to 49 percent since the BSP directive.
She also noted that the new policy requiring a minimum deposit has discouraged some players from continuing to play with licensed online gaming operators.
Lawmakers have recently renewed discussions on regulating the online gambling sector, with several bills proposing stricter controls or an outright ban. Senator Erwin Tulfo has requested updates on the issue. At the same time, the Department of Economy, Planning, and Development expressed support for either a total ban or tighter regulation, saying the industry’s economic contribution remains minimal at just 0.37 percent of GDP.
Fernandez countered that PAGCOR’s online gaming revenues help fund vital government programs, including healthcare initiatives. She warned that a total ban could limit the agency’s capacity to support such projects.
PAGCOR data shows that the electronic gaming sector generated PHP154.51 billion in 2024, nearly half of the total industry revenue of PHP372.33 billion. In the first half of 2025, the sector produced PHP114.83 billion, accounting for about 53.5 percent of total gaming income during the period.
PAGCOR has emphasized that legal online gaming revenues play a key role in supporting education, healthcare, and community development. Chairman and CEO Alejandro Tengco has reiterated that stricter oversight—not prohibition—is the best approach for the country’s online gaming industry.
