It’s time to ban POGOs in PH, says think tank
Now is the best time for the government to kick Philippine Offshore Gaming Operators (POGOs) out of the country as it only promises social, governance, and financial risks, said New York-based think tank Global Source.
In a research note, Global Source economist Romeo Bernardo said that allowing POGOs to continue to climb back to their pre-pandemic size would only increase the economy’s vulnerability to a sudden and massive pullout.
This predicted pullout could be triggered by China’s crackdown against gambling and money laundering, as well as the unsteady PH-China relations.
Global Source added that the possible blacklisting of the country by the Financial Action Task Force (FATF) and the current upheaval in global financial markets could strengthen the case for banning POGOs.
The think tank also emphasized that while they are aware of the economic consequences of a total POGO ban, they are more concerned with the “incalculable costs of allowing POGOs to operate in the country.”
Global Source’s report comes as Sen. Grace Poe called on the Philippine National Police and the Bureau of Immigration (BI) to start tracking down nearly 49,000 foreign POGO workers who have expired working visas and are facing deportation.
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