The latest report from the Philippine Amusement and Gaming Corporation showed a decrease in Philippine online gambling fee collections. The regulator said that the amount dropped by 80 percent. Pay per head service providers said it was an indicator that Philippine online gaming operators had fled the country.
Philippine presidential spokesperson Harry Roque downplayed the report that POGOs closed shop. Thus, the commercial real estate sector suffered considerable losses in recent months. Roque told reporters that there was no mass exodus of gambling operators from the country.
The spokesperson claimed that only one online gambling operator left the country because the Chinese government was investigating it for funding Hong Kong protestors. Also, he said that the confusion came up because the Bureau of Internal Revenue cleared only around 20 POGO operators to resume their operations this spring.
Philippine Online Gambling Fee Collections Dropped
The Philippine government will allow online gambling operations to resume their operations this spring. The industry was shut down due to the coronavirus. However, POGOs need to pay their outstanding tax bills before they can continue their operations.
According to PAGCOR, there were around 60 operators of live betting software in the Philippines. However, most of the companies on the list were no longer active. The regulator released a list that showed 55 POGOs in the country, but it is unclear how many companies closed during the pandemic due to the travel bans.
Also, PAGCOR confirmed that its monthly collection dropped to nearly half because of the 80 percent decrease in fees collected from POGOs. The Philippines doesn’t allow companies to offer sports betting to locals. However, you can become a bookie during the football season by setting up a company in the Philippines if you don’t accept wagers from residents.
PAGCOR revealed that the BIR cleared 32 POGOs. However, the operators are operating at 30 percent of their capacity. Also, the BIR cleared more than half of the 218 accredited POGO service providers. Forty-two companies filed to cancel their accreditation.’