PAGCOR Predicts Doubling of Revenue as POGO Licenses Fall

The COVID-19 pandemic has had an impact on the Philippines and its vibrant offshore gaming industry. A total of 22 Philippine Offshore Gaming Operators (POGOs) were shut down last week with the assistance of PAGCOR, the country’s gaming regulator, with the watchdog citing the global health crisis as the reason behind its decision. This was confirmed for Inside Asian Gaming, a regional media outlet that covers the gambling industry in Asia.

POGOs Numbers Fall Due to Pandemic
The regulator published a list of companies that will no longer be authorized to conduct any business. The list was compiled by the Anti-Money Laundering Council (AMLC) with at least six of the named entities having failed to undergo obligatory registration with the AMLC. According to ASGAM, PAGCOR confirmed that the effects of the COVID-19 pandemic were to blame for the more conservative approach in issuing POGO licenses.

Source: https://www.gamblingnews.com/news/pagcor-predicts-doubling-of-revenue-as-pogo-licenses-fall/