Most PH GSAs paying minimum fees, not revenue share

SCCG Management has published findings showing that a majority of Philippine Gaming Service Agreements (GSAs) are paying PAGCOR's minimum fee floor rather than revenue-derived fees. Under PAGCOR's licensing structure, GSA holders pay the higher of a minimum fee or a percentage of gross gaming revenue. When operators pay the minimum, it signals their actual revenue is too low to trigger the percentage-based calculation. Most licensees in the Philippine online gaming stack are in that position.

This is a structural signal, not an accounting detail. The minimum fee exists as a floor to protect PAGCOR's revenue base when operators underperform. When the majority of licensees hit that floor, it means the majority of the licensed operator pool is not generating enough volume to justify their place in the stack on commercial terms alone.