The Philippine Amusement and Gaming Corporation (PAGCOR) will abide by the order of President Ferdinand Marcos Jr. to wind down the operations of Philippine Offshore Gaming Operators (POGOs) by the end of the year, and will work closely with other government agencies to ensure the welfare of affected workers.
PAGCOR chairman and CEO Alejandro H. Tengco said he will immediately seek a meeting with officials of the Department of Labor and Employment as well as the country’s economic managers to help the estimated 42,000 job losses from the impending closure of all POGOs.
“We will follow the President’s order to wind down POGO operations by the end of the year, and we will work closely with DOLE and the economic team to study how to mitigate the effects of job losses, and to find alternative work for those who will be directly affected,” he said.
He also said the decision to ban POGOs will have a minimal impact on the Philippine gaming industry since the segment accounts for less than 5% of annual gross gaming revenues.
“The biggest impact of the ban, really, is on the Filipino workers and other businesses related to POGOs such as those in real estate, food and transport, and other ancillary businesses,” the PAGCOR chief said.
The Federation of Filipino-Chinese Chambers of Commerce and Industry, Inc. (FFCCCII) meanwhile said it will support the President’s decision to impose a total ban on all POGOs. The Fil-Chi business group said it also anticipates that this decision will lead to enhanced peace and stability in the country.
“It is hoped that this will improve the Philippines’ international public image, enhance peace and order, and help strengthen our country’s bilateral relations with China, as the Chinese government has long requested a total ban on the controversial POGOs,” Cecilio K. Pedro, president of FFCCCII, stated.
In addition to endorsing the POGO ban, Pedro welcomed the de-escalation of tensions in the West Philippine Sea and affirmed the President’s stance on de-escalation as the “right direction” for fostering positive growth in the Philippine economy.
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