MANILA, (PIA) — The Philippine Amusement and Gaming Corporation (PAGCOR) announced that the licenses of all remaining Philippine Offshore Gaming Operators (POGOs) will be canceled effective December 15, 2024.
PAGCOR Chairman and CEO Alejandro Tengco revealed the decision during a press briefing, saying, “I reported to the President that as of December 15, all POGO licenses will be canceled.”
This move aligns with President Ferdinand R. Marcos Jr.’s directive to shut down all POGOs in the country, initially announced during his third State of the Nation Address in July.
Tengco clarified that no POGO will be permitted to renew its permit in the coming years.
“There will be no licenses effective January 1, 2025,” he emphasized. He further warned that any claims of ongoing operations under a valid PAGCOR license are false.
According to PAGCOR data, only seven POGOs currently hold active licenses, down from over 300 before the nationwide ban was implemented.
Tengco noted that many operators have voluntarily requested the cancellation of their licenses.
In the same briefing, Department of Interior and Local Government Secretary Jonvic Remulla assured that the closure of POGOs would not significantly impact the country’s economy.
Despite PAGCOR estimating a loss of approximately P20 billion in annual revenue from the shutdown, Remulla said, “According to NEDA, only 0.25 of 1 percent of total GDP will be affected. We don’t see a significant dent in our economy.”
The impending cancellation marks a significant step in the government’s efforts to regulate the online gaming industry and address concerns surrounding its operations. (JCO/PIA-NCR)
