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23-07-2024, 11:05 AM
MANILA, July 23 (Reuters) - The Philippines' gaming regulator said on Tuesday it will cancel the licenses of offshore gambling firms and work with law enforcement agencies to implement President Ferdinand Marcos Jr's order of a total ban on the industry.
The 42 licensed POGOs directly and indirectly employ around 40,000 Filipinos, PAGCOR data show, while nearly 23,000 foreigners worked in the industry as of end-2023.
The challenge for law enforcers was to prevent these firms from going underground, Tengco said, adding the government stood to lose around 23 billion pesos ($400 million) of license fees and taxes annually from the licensed POGOs.
The POGO industry, which at its peak prior to the pandemic involved 300 firms, boosted demand for apartments, offices, and transportation services.
https://www.reuters.com/markets/asia/phi...024-07-23/
The 42 licensed POGOs directly and indirectly employ around 40,000 Filipinos, PAGCOR data show, while nearly 23,000 foreigners worked in the industry as of end-2023.
The challenge for law enforcers was to prevent these firms from going underground, Tengco said, adding the government stood to lose around 23 billion pesos ($400 million) of license fees and taxes annually from the licensed POGOs.
The POGO industry, which at its peak prior to the pandemic involved 300 firms, boosted demand for apartments, offices, and transportation services.
https://www.reuters.com/markets/asia/phi...024-07-23/
