Daily Asia Gaming eBrief: Forcing POGO closures will impact economy

Monday 19th of February 2024

Good Morning. Make peace not war. For lawyer Tonet Quiogue, POGOs have made significant contributions to the Philippine's economy, and authorities should be more focused on enforcing existing laws for the sector, rather than shutting them down. Some PHP5.2 billion ($93 million) have entered public coffers from POGOs in 2023, and closures of the now rebranded Internet Gaming Licenses (IGLs), would adversely affect 25,000 Filipino employees, argues Quiogue. Still, new regulations are not deterring online gambling giant 188BET, which shutted down its Isle of Man operations and moved its license back to the Philippines. Down under, Australian gaming operator The Star successfully negotiated with New South Wales authorities on new tax rates.

What you need to know

Enforce POGO gaming laws instead of banning the offshore operators says a gaming industry lawyer, citing the contribution of IGLs to the economy.
188BET moves its license and operations to the Philippines, after announcing the shutting down of the Isle of Man operations.
The Star has successfully negotiated with New South Wales authorities on new tax rates, including a jobs guarantee and cashless trial.

On the radar

GKL sees casino net sales up 50% in 2023, visitor volume doubles.
Universal Entertainment's profit up 150% to $189 million in 2023.
PAGCOR raid leads to 12 arrests over illegal online gaming.
Main Nepal casinos failed to pay $1.3 mln in taxes.
North Korea accused of building and selling malware packed gambling websites.
Sri Lanka parliament questions delay in establishing gaming regulator.

AGB Intelligence

PHILIPPINES

Gov’t focus shouldn’t be in forcing POGO closures - Lawyer

Lawyer Tonet Quiogue argues that POGOs have greatly benefited the Philippine economy, emphasizing the importance of authorities prioritizing the enforcement of existing laws over shutting them down. In comments to AGB, Quiogue points out that POGOs contributed approximately PHP5.2 billion ($93 million) to public funds in 2023, and warns that the closure of the now rebranded Internet Gaming Licenses (IGLs) would negatively impact 25,000 Filipino employees.

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