Despite the ongoing shortfall in demand for office spaces from Philippine Offshore Gaming Operators (POGOs) compared to pre-COVID levels, POGO operators still comprised 20 percent of office space deals in 2023.

The demand for office spaces from POGOs (Philippine Offshore Gaming Operators) is still far from 2019 levels, according to a property management consultancy firm.

Macau GGR recovery will be driven by premium mass, whilst Cambodia’s gaming recovery will be driven by the VIP segment, according to analysts at Colliers International. 

Cambodia and Macau are expected to lead the recovery in Asia-Pacific gaming this year, trailed by Singapore and the Philippines, according to a report from Colliers International. Cambodia's gross gambling revenue may hit 60 percent of its pre-Covid base.

Real estate experts in the Philippines predict that the government's recent ban on Philippine Offshore Gaming Operators (POGOs) could send shockwaves through the real estate industry

POGO operators still comprise some 20 percent of the office space transactions in Metro Manila, despite a drop in demand amongst ongoing changes to the online space. Real estate group Colliers notes that there has been "no significant effect on the overall office market".

A House hearing has spurred calls for a POGO ban, escalating the debate. But a gaming lawyer in the Philippines urges focusing on enforcing laws, citing POGOs' economic contributions.

Demand for office space by offshore gaming operators (POGOs) in the Philippines has fallen to just 22 percent of the levels seen in 2019, with uncertainty over any possible recovery in uptake from the sector's operators. Real estate group Colliers tells AGB that the sector now only accounts for 5 percent of rentals in Metro Manila, less than half of that registered pre-pandemic.

Despite the potential impact on government revenues, Benjamin Diokno, the Philippines' finance secretary, has expressed a desire to ban Philippine offshore gaming operators (POGOs). Diokno stressed concerns regarding reputational risks and social costs associated with the presence of POGOs. He stated directly: "Let's get rid of POGOs. We can get revenues from lots of other sources."

Colliers is expecting that hotels in the Philippines will complete some 3,900 rooms – a record-high for developers, as they ‘anticipate the projected recovery in global travel’ in 2023.