According to Representative Joey Salceda, the government in the Philippines should take advantage of POGOs revenue but should also be ready for them to leave.
Philippines.- The Philippine government continues to look into Philippine Offshore Gaming Operations (POGO). According to Representative Joey Salceda, the country should be ready if they decide to leave.
Salceda explained POGOs may leave the Philippines because of China’s policy against online gambling.
“Enjoy while it lasts and prepare when they go,” Salceda said in an economic briefing in Malacañang. He noted that POGOs are legal in the country and urged to thoroughly study them before acting in consequence.
“Remember, this is legal in the Philippines but considered illegal in China. So we need to see whether we need to… what is the correct strategy with dealing with them rather outside of taxing them properly? Because this will definitely pose systemic risk,” Salceda said.
“In terms of returns, my goodness! It’s now breaching 1% of GDP. So, it’s paying more wages than BPOs,” he added.
Philippines won’t ban iGaming
China has recently targeted the Philippines and its iGaming operations and asked for a total ban. However, President Rodrigo Duterte said the country won’t ban the business as it would put the country’s economy at risk.
“We decide to benefit the interest of my country. I decide that we need it,” Duterte said this week. However, he warned iGaming operators in the Philippines about paying fees and taxes.
China-Philippines relations have been tough lately regarding gambling. That’s why China’s embassy in Manila explained any forms of gambling by its residents in Philippine casinos is illegal.
Online and phone betting in the neighbouring country has bloomed over the last few years. That’s why the Chinese government is worried about the amount of money flowing out of the country.