{"id":22338,"date":"2021-09-06T13:44:12","date_gmt":"2021-09-06T16:44:12","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22338"},"modified":"2026-04-23T15:56:57","modified_gmt":"2026-04-23T18:56:57","slug":"audit-reveals-pagcor-failed-to-collect-us27-3m-from-pogos","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/audit-reveals-pagcor-failed-to-collect-us27-3m-from-pogos","title":{"rendered":"Audit reveals PAGCOR failed to collect US$27.3m from POGOs"},"content":{"rendered":"\n

The Commission on Audit (COA) has revealed that PAGCOR has to collect receivables of nearly PHP1.37bn (US$27.3m) from 15 Philippine offshore gaming operators (POGOs).<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The Commission on Audit has revealed in its annual 2020 report on PAGCOR that\u00a0the regulator has failed to collect nearly PHP1.37bn (US$27.3m)\u00a0<\/strong>from 15 Philippine offshore gaming operators (POGOs).<\/p>\n\n\n\n

According to the report, some of the receivables were already one or three years past due <\/strong>and there are also uncollected revenues from operators of poker, traditional, electronic, and rapid bingo, and other electronic games.<\/p>\n\n\n\n

Auditors said: “Further verification revealed that the past due receivables from offshore gaming were the accounts of the POGOs with cancelled operating sites and some with approved payment restructuring that have been already endorsed to the legal department for appropriate action, among others.”<\/p>\n\n\n\n

Of the 15 POGOs that failed to pay<\/strong>, eight had their licences revoked, one was suspended and three were under review. The remaining three operators were still working as of January 12, 2021.<\/p>\n\n\n\n

PAGCOR revenue could return to pre-Covid-19 levels by the end of 2022<\/h2>\n\n\n\n

Andrea Domingo<\/strong>, PAGCOR chairman, has said the casino industry in the Philippines could return to pre-pandemic levels by the end of next year if the country achieves herd immunity and borders restrictions are lifted. She also predicted\u00a0PAGCOR\u2019s revenues could reach between PHP35bn (US$701.6m)\u00a0<\/strong>to PHP38bn in 2021.<\/p>\n\n\n\n

The regulator<\/a>\u00a0has revealed that\u00a0gaming income for the first half fell by 20 per cent year-on-year<\/strong>\u00a0to PHP14.7bn (US$293.1m). For the first six months, the\u00a0regulator made a profit of PHP79m<\/strong>.<\/p>\n\n\n\n

PAGCOR<\/a>\u00a0previously reported that gaming revenue\u00a0fell by 51.4 per cent year-on-year\u00a0<\/strong>to PHP8.36bn (US$172.8m)\u00a0in the first quarter of 2021<\/strong>, compared to nearly PHP17.22bn (US$339.8m) in the first quarter of 2020. Net income<\/strong>\u00a0reached PHP152.6m (US$3.2m),\u00a0down 80 per cent from Php777.4m (US$15.3m)<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Commission on Audit (COA) has revealed that PAGCOR has to collect receivables of nearly PHP1.37bn (US$27.3m) from 15 Philippine offshore gaming operators (POGOs).<\/p>\n","protected":false},"author":176,"featured_media":20202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Commission on Audit (COA) has reported that PAGCOR is facing a significant challenge in collecting PHP1.37bn (US$27.3m) in past-due receivables from 15 Philippine offshore gaming operators (POGOs), many of which have had their licenses revoked. This fiscal oversight coincides with PAGCOR's reported decline in H1 2021 gaming income and net profit, though its chairman projects a return to pre-pandemic revenue levels by late 2022.","focusai_entities":"Commission on Audit (COA), PAGCOR, Andrea Domingo, Philippine offshore gaming operators (POGOs)","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.8), investor_analyst (0.9), journalist_researcher (0.95)","focusai_suggestions":[{"label":"POGO Debt Recovery Strategy","query":"What specific legal and enforcement mechanisms is PAGCOR employing to recover the PHP1.37bn in past-due receivables from POGOs, particularly those with revoked licenses or restructured payment plans?"},{"label":"Regulatory Framework Impact","query":"How will the COA's findings regarding PAGCOR's uncollected revenues influence the future regulatory framework and licensing conditions for offshore gaming operators in the Philippines?"}],"footnotes":""},"categories":[163,16333],"tags":[405,15789],"class_list":["post-22338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance-news","category-south-east-asia-news","tag-pagcor","tag-pogos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=22338"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22338\/revisions"}],"predecessor-version":[{"id":22374,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22338\/revisions\/22374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}