The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that gross gaming revenue (GGR) declined slightly in the third quarter after electronic wallets were ordered delinked from online gaming platforms.
GGR for the period slipped 0.11 per cent to ₱94.51bn. Despite the overall dip, e-gaming continued to be the strongest segment, rising 17.4 per cent year on year to ₱41.95bn and accounting for 44.4 per cent of total revenue.
PAGCOR Chairman and CEO Alejandro H. Tengco said the delinking requirement affected activity late in the quarter. “The delinking of e-wallets resulted in a short-term decline in activity toward the latter part of the quarter,” he said. Revenue from e-games was buoyed by strong performance in July, before falling in August and September.
The Bangko Sentral ng Pilipinas ordered e-wallet providers, banks and other supervised institutions in August to remove in-app gaming features, including embedded links to gambling websites. The move has contributed to ongoing debate over whether online gambling should be banned or regulated to protect its economic contribution while addressing addiction concerns.
Tengco warned that illegal online gaming sites continue to expand and pose risks to players. “These unauthorised platforms do not follow responsible gaming standards, do not pay taxes, and put players at risk of data theft and fraud,” he said, urging consumers to use only PAGCOR-licensed operators.
Other gaming segments recorded sharper declines during the quarter. Government-operated casinos saw revenue fall 11.6 per cent to ₱3.64bn, while bingo revenue declined 16.2 per cent to ₱3.79bn. Licensed casinos accounted for 48.2 per cent of GGR, bingo operations for four per cent, and PAGCOR-run venues for 3.4 per cent.
Tengco said he expects a recovery as players adjust to new e-wallet protocols and as enforcement efforts against illegal operators continue. The Department of Economy, Planning and Development has previously described the gaming sector’s wider economic contribution as minimal.
The post PAGCOR reports flat Q3 GGR following e-wallet delinking order appeared first on G3 Newswire.
The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that gross gaming revenue (GGR) declined slightly in the third quarter after electronic wallets were ordered delinked from online gaming platforms. GGR for the period slipped 0.11 per cent to ₱94.51bn. Despite the overall dip, e-gaming continued to be the strongest segment, rising 17.4 per cent…
The post PAGCOR reports flat Q3 GGR following e-wallet delinking order appeared first on G3 Newswire.