Maybank Investment Bank has outlined economic factors that might “pressure” the Philippine gaming industry in the second half this year.
Maybank stated in a memo on Wednesday that “brick-and-mortar casinos face steep headwinds due to inflation, high utility costs cannibalising disposable income, and a lack of VIP high-rollers tied to slower-than-expected tourism growth.”
The Philippines reported in April that first-quarter foreign visitor arrivals were up 2.6 percent year-on-year, to circa 1.76 million, spurred by growth in most key markets except South Korea and China.
In its ‘Daily Edge’ digest of its analyst output for the Philippines’ business sectors, Maybank referred to comments at the start of June by Alejandro Tengco, chairman and chief executive of the country’s gaming regulator, the Philippine Amusement and Gaming Corp (Pagcor).
He had said the Philippine gambling sector could see gross gaming revenue (GGR) decline by as much as 19 percent this year. It could be as low as PHP320 billion (US$5.20 billion) this year, versus the PHP396.14- billion recorded in 2025.
Maybank noted that notwithstanding land-based gaming’s challenges, “online gaming serves as the industry’s primary bright spot,” with operators such as Philippines-listed DigiPlus Interactive Corp “expected to outperform by leveraging promotional activities and expanding into lower-income segments”.
