PAGCOR forecasts 18% income drop as gaming market slows
PAGCOR expects income of nearly PHP87bn in 2026, an 18% decline year-over-year, amid tighter gambling regulations and economic pressures.
PAGCOR expects income of nearly PHP87bn in 2026, an 18% decline year-over-year, amid tighter gambling regulations and economic pressures.
Non-cash accounting charges and higher marketing spending weighed on annual results despite improving gaming operations.
Second-quarter economic growth slowed to 0.3% year-on-year, while first-half output remained 10.9% below its 2019 level.
Casino and gambling tax revenue declined in the first half of 2026, but the government expects stronger collections by year-end.
Revenue climbed in the H1 of 2026, but profits fell as the group absorbed ramp-up costs and softer consumer demand.
The group grew EBITDA before special items by 20%, while North America's shift toward revenue share, talent-led media and prediction markets lifted its regional margin from 5% to 26%.
Galaxy Arena is targeting more international entertainment events as Macau expands its non-gaming tourism offering.
Driven by domestic tourism, Ras Al Khaimah recorded its strongest first half on record despite regional travel disruption.
The operator has opened a strategic review of SkyCity Adelaide after recording an AU$43m reduction in the casino’s carrying value.
The affiliate reduced operating costs as its Nordic media products helped lift the adjusted EBITDA margin to 24.0%.