PAGCOR chairman keen to keep POGOs in the country
Alejandro Tengco cited POGOs significant contributions to the Philippine economy, including job creation and property sector growth.
The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro H. Tengco conveyed the regulator’s willingness to support the continuity of the Philippine Offshore Gaming Operators (POGO), now rebranded as International Gaming Licensees (IGL).
Tengco underscored the significant employment opportunities provided by the sector, employing close to 70,000 Filipinos. Additionally, he highlighted the sector’s role in the property industry, occupying 625,000 square meters of office space.
According to The Star, Tengco also expressed openness to issuing more international gaming licences, subject to regulatory requirements.
According to him, closing down the industry would not be the right way to go as there is a large workforce that would need to be re-employed and a large amount of office space that the sector currently occupies that would be vacated.
See also: New call for ban on POGOs in the Philippines
PAGCOR’s chairman further acknowledged the industry’s contraction to approximately 25 per cent of its previous size but noted the positive impact on PAGCOR’s revenues, which surged from PHP2.9bn in 2022 to PHP5bn in 2023.
Despite concerns from the public about IGLs, Tengco stressed that PAGCOR’s requirements have been tightened, and it has been cracking down on illegal operations.
Under PAGCOR’s new internet gaming licensing regulations, IGLs must have an authorized capital of at least PHP100m, with PHP25m paid up, compared to the previous requirement of PHP15m with PHP3m paid up. The licences are valid for two years, site-specific, and subject to a maximum floor area of 25,000 square meters at the operating site.
POGOS were in the eye of the storm throughout 2023. Senator Gatchalian, who chairs the Senate Committee on Ways and Means, called for the end of the sector on several occasions due to the harm they cause to the country’s international reputation and the strain placed on law enforcement.
