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Benjamin Diokno, the Philippines’ Finance Secretary, has campaigned for the abolition of Philippine Offshore Gaming Operators (POGOs) due to reputational hazards and societal costs. Despite the possibility of financial shortfalls, Mr. Diokno expressed confidence that the country could find alternate sources of money. The remarks were made during the “Kapihan sa Manila Bay” weekly news forum, where they raised worries about illegal activities involving POGOs.
Secretary Diokno emphasized the harmful impact of POGOs on the country, which has raised the country’s reputational danger. He went on to say that the presence of POGOs caused social costs that outweighed the cash generated. Recognizing these difficulties, he called for the elimination of POGOs entirely, proposing alternative revenue streams for the government.
The Philippine Star reported that the national government earned little under PHP4.44 billion (US$80.1 million) from POGOs in the first eight months of 2022, compared to PHP3.91 billion in the entire year of 2021. Despite the financial ramifications of removing POGOs, Secretary Diokno remained confident that the country could find other sources of money.
Concerns have been raised about illicit activity tied to POGOs. The Philippine Amusement and Gaming Corp (Pagcor) issued a harsh warning to POGOs in May to refrain from engaging in illicit activities. CGC Technologies (CGC), an accredited offshore casino customer relations service provider, was suspended as a result of this action. Pagcor’s lack of monitoring over POGO operations has been criticized, with Senator Sherwin Gatchalian asking for their immediate termination.
The online gambling market in the Philippines grew rapidly under the guidance of former Pagcor chairperson Andrea Domingo. However, due to noncompliance and illicit conduct, Pagcor cancelled the contract of a third-party auditor in charge of auditing POGOs in March. This incident generated additional worries about the industry’s operations and transparency.