THE gaming industry’s growth could stagnate this year in the wake of stiffer regulation imposed by the government, S&P Global said.
“(T)he Philippines may see (its) GGR (gross gaming revenue) dip with declining visitors and regulatory headwinds on online gaming,” S&P Global associate director Flora Chang said in a report on Wednesday.
In the third quarter of 2025, the industry’s GGR slipped 0.11% to P94.51 billion, according to the Philippine Amusement and Gaming Corp.
In August, the Bangko Sentral ng Pilipinas’ ordered electronic wallet companies to remove their payment links to online gambling platforms amid growing concerns about gambling addiction.
In October, President Ferdinand R. Marcos, Jr. also signed Republic Act No. 12312 or the Anti-POGO Act of 2025 revoking all work permits and visas of individuals in the Philippine Offshore Gaming Operators (POGO) industry.
They signed the official shutdown of offshore gaming hubs in the Philippines.
Analysts have said that modest growth is still possible this year, with online gaming expected to dominate the industry and drive growth further.
However, Ms. Chang said the crackdown may have discouraged the clientele.
“Stricter regulations towards online gambling operators in the Philippines could alter player behavior or increase customer acquisition costs, potentially hindering revenue growth and profitability,” Ms. Chang said.
A law on online gambling is also on the Legislative-Executive Development Advisory Council’s list of 44 priority bills for the 20th Congress.
According to the Development of Economy, Planning, and Development, the online gaming industry accounted for P81.6 billion or 0.37% of gross domestic product in 2024. — Katherine K. Chan
