POGOs could see a rebound following easing of Covid-19 restrictions

There are currently 41 POGOs operating in the Philippines.
There are currently 41 POGOs operating in the Philippines.

According to David Leechiu, president of Leechiu Property Consultants, there could be a rebound in the activity of Philippine offshore gaming operators as mobility restrictions ease.

The Philippines.- Following an exodus due to the Covid-19 pandemic and tax pressure, some expect that Philippine offshore gaming operators (POGOs) could make a return to the country.

David Leechiu, president of Leechiu Property Consultants, told local media that his company is close to signing its first major real estate deal for a POGO operator in two years. He predicts that this could be the starting point for a rebound in activity.

He said the sector could receive a boost from the announcement that the country will reopen its borders to international tourists who have been fully vaccinated against Covid-19 from February 10. The POGO industry employs a large number of expatriate workers from mainland China and Asia.

Before the Covid-19 pandemic, POGOs were a major force in Manila’s commercial real estate market, but the industry has since freed up about 500,000 square meters of space. New POGO taxes, regulatory uncertainty and a crackdown on visa regulations led to an exodus of online operators, a situation aggravated by the Covid-19 pandemic.

From September 2021, POGOs have had to pay 5 per cent tax on their gross gaming revenue. Service providers must pay a 25 per cent income tax. According to PAGCOR’s website, the number of POGO licence holders that are currently operating is just 41.

In this article:
POGOs