Good morning. The grass is always greener where you’re legally allowed to operate. For Philippine Offshore Gaming Operators (POGOs) the end of the age is coming, and they’re now looking to Europe, Vanuatu, and other regions to find the proper jurisdiction that suits their needs and encourages their growth. The Philippines will still need to negotiate the aftermath of the exodus, both for employment and lost revenue streams. Meanwhile, Las Vegas Sands saw a dip in its 3Q24 results, based on a low hold in Singapore and continued construction at The Londoner, but the group is firm in its capital expenditure plans.
What you need to know
- The Philippines’ gaming ban forces POGO operators to navigate regulatory complexities while seeking new territories.
- Low hold in Singapore and continued disruption from construction at The Londoner drive down Las Vegas Sands’ 3Q24 results.
On the radar
- PH House Quad Committee investigates POGO-related fund movements.
- Macau visitor arrivals in September were up 10%, over 2.5M.
- IMF lowers Macau GDP projections for 2024/2025.
- Former Senate President defends previous POGO taxation policies.
- Eight foreign nationals linked to illegal POGOs arrested in the Philippines.
- Indian government targets influencers over gambling promotions.
AGB Intelligence
PHILIPPINES
POGO exodus means operators seeking new jurisdictions
The mandated closure of Philippine Offshore Gaming Operators (POGOs) by year-end has presented operators in the space with significant problems, while also providing opportunities for jurisdictions who are receptive to offshore operations. Expert Daniel Li points out how operators are likely now looking to Europe, Vanuatu, and other jurisdictions as they’re forced out of the Philippines.
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