Daily Asia Gaming eBrief: Philippines President signs Executive Order banning POGOs

Good morning. The hammer goes down. The Philippines has officially banned Offshore Gaming Operators (POGOs) with an Executive Order issued by the Presidential palace ordering for operations to be wound down by December 31st. Senator Risa Hontiveros has already warned that the order might hold significant loopholes as it did not explicitly include establishments outside the oversight of the Philippine Amusement and Gaming Corporation (PAGCOR). Meanwhile, Maybank has attributed Genting Singapore’s disappointing third-quarter results to lower VIP gaming and higher bad debt.

What you need to know

• The Executive Order banning POGOs and offshore gaming has been issued and signed by President Ferdinand Marcos.
• Senator Hontiveros warns that the POGO shutdown order may leave gaps, particularly regarding economic zones and PAGCOR exemptions.
• Genting Singapore's third-quarter earnings ‘fell short of expectations’ due to lower VIP gaming volumes and higher bad debts.

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• Macau visitor arrivals surpass 30M on Sunday.

AGB Intelligence

PHILIPPINES

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