For Philippine Amusement and Gaming Corporation (PAGCOR) chairman and CEO Alejandro Tengco, abrupt closure of Philippine Offshore Gaming Operations (POGOs) would affect many sectors.
"Sa akin po naman eh hindi po basta bigla-bigla nating puwedeng isara dahil sa aking paniwala marami pong maapektuhan," Tengco said in an interview on Super Radyo dzBB.
"Alam naman po ninyo yung pinagdadaanan natin ngayon hindi lang sa Pilipinas, kundi sa buong mundo, talaga namang dahil lang sa krisis sa laban ng Ukraine at Russia, apektado po talaga ang ekonomiya ng buong mundo lalung-lalo na po dito sa atin," he added.President Ferdinand "Bongbong" Marcos Jr.
Apart from this, Tengco said these licensed POGOs, like the other industries, are expected to generate more revenues compared to the previous years when all industries were affected by the COVID-19 pandemic.In 2022, Tengco said the POGO industry has given PAGCOR around P3 billion in revenues, excluding the taxes being paid by the industry to the local government units and to the Bureau of Internal Revenue.
The Embassy also stressed that the "social costs of POGO far outweigh its economic benefits to the Philippines in the long run and POGO should be tackled from the root so as to address the social ills in a sweeping manner."In September 2022, Finance Secretary Benjamin Diokno said the country should do away with POGOs, citing what he described as social and reputational risks.
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