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Daily Asia Gaming eBrief: Philippines set to shut down remaining POGOs by Jan 1st

Good morning. It is the season for new beginnings. The revocation of licenses in the for Philippines Offshore Gaming Operators (POGOs) officially commenced on December 15, following President Ferdinand Marcos Jr.’s directive to terminate POGO operations nationwide. PAGCOR Chairman Alejandro Tengco announced that about 20 POGOs remain active, all of which must cease operations by January 1st. Meanwhile, Francis Lui has been appointed Chairman of Galaxy Entertainment Group, transitioning from his role as Deputy Chairman, following the passing of his father and company founder, Lui Che Woo. In nearby news, Morgan Stanley has warned that SJM Resorts’ plan to convert an office building in Hengqin into a hotel could exacerbate the company’s already high debt levels.

What you need to know

  • The revocation of remaining POGO licenses in the Philippines began on December 15th, with operations to cease by January.
  • SJM Resorts’ decision to reconvert an Hengqin office building into a hotel risks increasing its debt levels even further, Morgan Stanley analysts warned.
  • Francis Lui, the son of late gaming mogul Lui Che Woo, has been officially appointed as Chairman of Galaxy Entertainment Group.

On the radar


AGB Intelligence

PHILIPPINES

Online gaming offices, POGOs, Offshore Gaming, PAGCOR, Manila, Philippines, POGO BAN

POGO license revocation process is officially underway

The process of revoking licenses for Philippine Offshore Gaming Operators (POGOs) officially began on December 15, in line with President Ferdinand Marcos Jr.’s directive to shut down POGO operations across the country. PAGCOR Chairman Alejandro Tengco reported that approximately 20 POGOs are still operational, all of which must stop by January 1st. Since October, various government agencies have also started downgrading the visas of over 21,000 foreign workers associated with POGOs in response to the ban.


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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