Good morning. It’s a nervous day for POGOS in the Philippines. Ahead of the upcoming State of the Nation Address, rumors are swirling about a potential ban on Philippine Offshore Gaming Operators by President Ferdinand Marcos. POGOs have drawn significant attention in the country, with the high-profile case of “POGO Mayor” Alice Guo fueling calls for action. While a complete POGO ban seems unlikely, the President may announce reforms or additional steps to address the industry’s illegal elements. Meanwhile, New Zealand authorities have officially withdrawn SkyCity Entertainment Group’s Auckland previous 10-day application to temporarily suspend casino gambling area after the company agreed to a 5-day operation suspension. Recently, Evolution, a B2B solution provider for casino operators, has also reported notable growth in both revenue and profitability in the first half of 2024.
What you need to know
- Rumors of an impending POGO ban by President Marcos loom before his State of the Nation Address this Monday.
- New Zealand authorities have officially withdrawn a previous application to temporarily suspend SkyCity Entertainment Group’s Auckland casino.
- Evolution, a B2B solution provider for casino operators, has reported notable growth in both revenue and profitability in the first half of 2024.
On the radar
- Universal Entertainment to issue new notes for $760M refinancing.
- Kangwon Land reports 3.4% sequential decrease in gaming sales to $220M.
- Macau charges 59 in major cross-border sports betting bust.
- AGTech wins lottery terminal supply tenders for Shaanxi, Zhejiang and Jiangsu provinces.
- PH Senate defends priorities while police promise safety in POGO probe.
AGB Intelligence
PHILIPPINES
POGO ban rumors spread before Marcos President’s Address
Rumors of a potential POGO ban have made the rounds before President Ferdinand Marcos Jr. State of the Nation Address today, as the industry has been heavily criticized for its limited economic benefits, alleged criminal ties, and reputational damage to the Philippines. While some are calling for an outright ban or the shuttering of China-facing POGOs, the chairman of the Philippines gaming regulator (PAGCOR), Alejandro Tengco, opposes a total ban, citing the significant revenue the legitimate operators generate for the country.
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