POGOS PLAYING “SIGNIFICANT ROLE” IN ECONOMIC RECOVERY
Accredited Service Providers Association of PAGCOR say POGOs are contributing PHP94.7billion (US$1.87billion) to the local economy.
Philippines: Philippines Offshore Gaming Operators (POGOs) are playing a “significant role” in the country’s economic recovery, according to an association of online casino operators.
The Accredited Service Providers Association of PAGCOR (ASPAP) said that POGOs are contributing around PHP94.7billion (US$1.87billion) to the local economy.
They estimate this figure could reach as much as PHP104billion (US$2.05billion) in contributions by the end of the year.
In a statement, ASPAP spokeperson, Margarita Gutierrez, said: “PAGCOR says the annual collections from taxes and fees from POGOs should be around PHP34 billion (US$670 million).
“Revenues which POGOs pump into the economy are way beyond the regulatory fees and taxes directly paid to the authorities.
“We are committed to fully support the country’s roadmap to economic recovery and we hope that all sectors will pour their efforts toward this goal.”
Gutierrez also added that an estimated PHP33billion (US$650million) would be injected into the local economy by foreign POGO workers through their daily expenses.
Earlier in May, an anti-POGO bill was filed by lawmakers in the Philippines to ban them from operating in the country.