Current Scenario of POGO Operations in the Philippines
Underground Casino Gaming Operators Prepared to Continue Operations After Government Ban
The world of Philippine Offshore Gaming Operators (POGOs) is undergoing a transformation due to a string of troubles and regulatory scrutiny. With a concerted effort to control and put an end to illicit activities, the Philippine authorities have been relentless in their approach towards POGOs.
The wind-down process & the rise of guerilla POGOs
Only a meagre seven licensed POGO operators are still operating, with many winding down their activities. Meanwhile, there's an expectation of rogue, guerrilla POGOs surfacing all over the country, posing further challenges.
The government strikes back
To counter these rogue POGOs, the government is intensifying its crackdown efforts. It's planning to shut down illegal operators, address human trafficking, and combat cybercrimes linked to POGOs, as exposed in the past [4][5].
In a significant step, a Makati court seized over PHP189 million (approx. $3.4 million) in assets from a POGO implicated in illegal activities, following a raid by law enforcement agencies [5].
Regulatory measures, stronger legislation, and international cooperation
The Philippine Amusement and Gaming Corporation (PAGCOR) and other regulatory bodies are working tirelessly to ensure only licensed gaming operators are permitted to operate. This is to eliminate the presence of illegal operators.
Additionally, the government is working on strengthening its legal framework to prevent illicit activities and maintain a compliant market [4].
The Philippines' removal from the FATF grey list reflects its commitment to eradicating money laundering and other financial crimes connected to rogue POGOs. This emphasizes the country's dedication to abiding by international standards and cooperation [2].
In summary, the goal is to sustain a legitimate and complaint POGO industry that operates within the confines of law, providing a safer and reliable gaming ecosystem for all concerned.
- In an effort to maintain a legitimate and complaint gaming industry, the finance sector, including fintech, banking-and-insurance, and the industry at large, could potentially collaborate with the Philippine authorities to identify and eliminate guerrilla POGOs operating illegally.
- As part of the drive to eliminate money laundering and financial crimes within POGOs, the government could offer incentives such as tax breaks or subsidies for licensed POGO operators who provide free spins or other attractive promotions as a means to encourage responsible gaming and uphold industry standards.
