Offshore gaming to remain a driver of office space demand
Office space demand from offshore gaming operators in the Philippines is seen to remain upbeat despite the government’s efforts to tighten regulations on the industry. Property consultants have stated that such moves will help make the gamers’ presence in the country more legitimate. Last week, the Bureau of Internal Revenue (BIR) asked the Philippine Amusement and Gaming Corp. to require Philippine offshore gaming operators (POGOs) to present proof of tax registration and payment when renewing their licenses. Property consultancy firm Colliers International Philippines said that at the moment, there are 57 holders of POGO licenses in the country, with the majority of them having sub-licenses. According to Colliers Research Manager Joey Roi H. Bondoc, this is just a step of securing the legality of their operations. He is also positive that this will not impede the growth of offshore gaming operations here.