Philippine Senate Committee recommends shutdown of POGOs

The report cites concerns about the sector’s impact on the country’s economy and law enforcement.

The Philippines.- Ten out of 18 members from the Committee on Ways and Means in the Philippine Senate have signed a report recommending the shutdown of Philippine offshore gaming operators (POGOs) within three months. 

Senator Sherwin Gatchalian, who chairs the committee, confirmed that the recommendation was included in a report submitted to the Senate. The report will be presented for deliberation in a plenary session. During this phase, senators will explore the possibility of an immediate ban or consider granting POGOs a three-month period to conclude their operations.

Gatchalian stressed the risk of criminal activities associated with certain POGO companies. He has previously said POGOs were being used as a “legal cover” by criminal syndicates to promote fake cryptocurrency investments and run illicit operations.

Gatchalian is a fierce opponent of POGOs. In March, he released a report based on an inquiry led by his committee and the Senate’s Committee on Economic Affairs, which raised concerns about the influence of POGOs on certain law enforcement agencies.

The Philippine Amusement and Gaming Corp (PAGCOR) recently required all POGOs to reapply for licences by September 17. The new regulatory framework for offshore gaming licensees imposes stricter capital requirements and licence fees.