This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
The Philippine House of Representatives has started considering the substitute bill to House Bill 5777 on taxing persons engaged in Philippine Offshore Gaming Operations (POGOs). House Committee on Ways and Means Chair Joey Sarte Salceda hopes the additional revenues will prove useful for the cash strapped government.
The proportion of local employees in the middle and senior management positions of the ‘Big Six’ Macau gaming concessionaires is currently at 89 percent, Secretary for Economy and Finance Lei Wai Nong has revealed.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.