Your Daily Asia Gaming eBrief: POGOs have two weeks, or else

Friday 16th of September 2022

Good Morning. POGO-related crime is rampant across the Philippines. An inter-agency task force instructed by President Marcos was given two weeks to crack down on illegal activity, or else PAGCOR will cancel POGO licenses.

What you need to know

PAGCOR warned if kidnappings persist, it will cancel POGO licenses. Inter-agency task force given two weeks timeline to abate illegal activity.
Maybank's view is not overly optimistic in favor of Genting winning a concession in Macau, yet maintains a buy call for the company's shares.

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AGB Intelligence

PHILIPPINES

PAGCOR to cancel POGO licenses if kidnappings persist

PAGCOR Chair Alejandro Tengco warned that if the kidnapping of foreign workers in the Philippines persists, the consequences may affect legitimate POGO operators. “If these kidnapping incidents and other illegal activities persist, it is clear that not only will we cancel the licenses of POGO operators, but the entire industry may be affected by whatever decision will emanate from the national government. So let us help each other solve these issues as soon as possible,” Tengco said. The Department of Interior and Local Government gave the Philippines National Police and other participating agencies in President Marcos’ task force a timeline of two weeks to abate all POGO-related illegal activities in the country.