Good morning. The hammer goes down. The Philippines has officially banned Offshore Gaming Operators (POGOs) with an Executive Order issued by the Presidential palace ordering for operations to be wound down by December 31st. Senator Risa Hontiveros has already warned that the order might hold significant loopholes as it did not explicitly include establishments outside the oversight of the Philippine Amusement and Gaming Corporation (PAGCOR). Meanwhile, Maybank has attributed Genting Singapore’s disappointing third-quarter results to lower VIP gaming and higher bad debt.
What you need to know
- The Executive Order banning POGOs and offshore gaming has been issued and signed by President Ferdinand Marcos.
- Senator Hontiveros warns that the POGO shutdown order may leave gaps, particularly regarding economic zones and PAGCOR exemptions.
- Genting Singapore’s third-quarter earnings ‘fell short of expectations’ due to lower VIP gaming volumes and higher bad debts.
On the radar
- Light & Wonder inks a 7-year Platform as a Service deal with SkyCity.
- Sportradar profit expands significantly in the third quarter of 2024.
- Macau non-gaming visitor per-capita spending falls 17% YoY in 9-month period.
- Macau visitor arrivals surpass 30M on Sunday.
AGB Intelligence
PHILIPPINES
President Marcos issues official Executive Order banning POGOs
The Philippines has officially banned Offshore Gaming Operators (POGOs) through an Executive Order mandating that all operations be wound down by December 31st. The ban encompasses licensed POGO entities, gaming agents, and service providers, effectively classifying unlicensed operations as illegal. Additionally, the order halts all license applications and renewals related to offshore gaming, while also focusing on supporting displaced workers and mitigating the negative impact on foreign investment and tourism due to the perceived risks associated with POGO operations.
Corporate Spotlight
1xBet: Capitalize on Asian teams’ World Cup qualifier struggles
Asia is the most populated continent on the planet and Football is the No. 1 sport in most countries. The World Cup qualifying matches are traditionally watched by billions of fans in the region, but FIFA has decided to reward Asia with a significant representation at the tournament only now.
Altenar brings premium sportsbook solution to Asia
Altenar, a leading sportsbook provider is bringing its global expertise to Asia, looking to expand its operations. Since 2011, Altenar has powered hundreds of online sports betting sites worldwide and is a major B2B provider in Europe and Latin America licensed markets.
Industry Updates
- SOFTSWISS unveils Responsible Gambling guidelines for EU Gambling Week.
- BetConstruct: Ortak x B.F.T.H. Arena Awards 3.0 opens for public voting.
- FBM partners with Delta Gaming Solutions to expand slot presence in Oklahoma.
MEMBERSHIP | INTELLIGENCE | ASEAN | CAREERS
