Philippine Offshore Gaming Operators (POGOs) have won a reprieve from a punishing franchise tax, which may stop the exodus from the country, but uncertainty over business conditions remains high, industry insiders say.
The Philippines says it’s now confident that it will avoid being placed on the Financial Action Task Force (FATF) gray list after the House of Representatives approved amendments to its anti money laundering bill.
The Philippine Congress has approved amendments to its Anti-Money Laundering legislation, which include bringing Philippine Offshore Gambling Operators (POGOs) and their service providers under the law.
The number of kidnapping cases involving Philippine Offshore Gaming Operators (POGOs) almost doubled last year to 17 during the Covid-19 pandemic. There were 10 cases filed, 23 victims rescued, 33 suspects arrests and two suspects killed.
The Philippine Supreme Court has granted a temporary restraining order against the collection of a 5 percent franchise tax from Philippine Offshore Gaming Operators (POGOs) following a petition from 14 foreign-based firms.
Exodus is a strong word. The Greek term conjures up mental images of mass migration on a biblical scale and therefore shouldn’t be used lightly, yet it is hard to find a better way to describe what is happening in the Philippines right now.
The Philippines’ decision to allow online gambling within its borders is a major step forward for igaming in Asia, but restrictions on operations mean it’s unlikely to be a game changer, at least initially.
As we close our final magazine of the year, I’d rather not focus on the doom and gloom wrought by Covid-19 and will instead look at how the pandemic has been a key catalyst for change in the gaming industry.
The Philippines and Asia’s online gaming industry is going through uncertain times, with the gaming regulator seeing more and more operators leaving the country for greener pastures.
A Philippine senator is calling for an end to the Visa Upon Arrival scheme for Chinese nationals, which could potentially be a blow for both land-based casinos and the country’s Philippine Offshore Gaming Operators (POGOs).