Philippine Bureau of Internal Revenue Deputy Commissioner Arnel Guballa has told senators that latest projections show POGO tax collections settling at PHP3.92 billion (US$82.3 million), just half the PHP7.18 billion raised in 2020.
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.