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Market · Tue 4 Aug · 3 min read

S&P projects 7% GGR shrinkage for Philippine gaming in 2026

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What happened

S&P Global has projected a 7% contraction in Philippine gaming gross gaming revenue (GGR) for 2026. The agency attributes the decline to abrupt policy changes, citing their impact on DigiPlus Interactive as a primary example. S&P also downgraded Universal Entertainment Corp., the parent of Okada Manila, to B- with a negative outlook in May, pointing to heavy debt and weak Philippine gaming performance. The agency notes that the integrated resort segment faces continued pressure from both macro conditions and competition from online operators. The Philippines and New Zealand are flagged as regional outliers for their relatively permissive online gambling policies, which S&P says may cannibalize returns from large physical casino investments.

Why it matters

Sources: Philstar

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