TLDR Philippine gross gaming revenue fell 15.9% in the first quarter of 2026 S&P Global Ratings says easier visa rules and an online gambling recovery could support growth Electronic games dropped 22.4% as inflation tied to Middle East wars cut consumer spending The Philippines extended visa-free entry for Taiwanese passport holders through June 2027 Pagcor expanded anti-money laundering rules covering banks and e-wallets in e-gaming
The Philippines’ gaming industry may return to growth this year. S&P Global Ratings points to easier visa rules and a recovery in online gambling as the main drivers.
The outlook follows a weak start to 2026. Gross gaming revenue, known as GGR, fell during the first quarter compared to a year earlier.
S&P credit analyst Flora Chang shared this view in a July 1 sector report. The note was obtained by Manila Bulletin.
Pagcor said GGR dropped 15.9% in the first three months of the year. Electronic gaming led the decline.
Games including e-games, e-bingo, bingo, and poker all fell sharply. Electronic games alone declined 22.4% compared to 2025.
Officials linked part of the drop to inflation. Wars in the Middle East pushed up prices and cut into how much people had left to spend on entertainment.
Licensed casinos remained the top earner despite the slowdown. They generated ₱44.5 billion, or 50.1% of total GGR.
E-gaming brought in ₱39.9 billion, making up 45.6% of the total. Together, the two segments cover nearly all industry revenue.
Visa Policy Support
The Philippines has eased entry rules for visitors from several countries. The Manila Economic and Cultural Office extended visa-free entry for Taiwanese passport holders through June 30, 2027.
Under that arrangement, Taiwanese travelers can stay up to 14 days without a visa. The policy works on a reciprocal basis between the two sides.
The