The POGO (Philippine offshore gaming operator) sector is eyeing for a “revenge comeback,” as it starts to actively seek new office spaces for the first time since March 2020, according to real estate firm Leechiu Property Consultants (LPC). POGO contractions are also reported to have slowed down by 50% from Q1.
In a virtual briefing, LPC noted that they are expecting the resurgence of the POGO sector in the country. LPC’s report stated that this comeback is supported by Senate Bill 2232 and the reopening of the Philippine borders for foreigners.
Additionally, the passage of the CREATE law and the vaccine rollout efforts are expected to improve investor sentiment.
LPC CEO David Leechiu further said that POGOs may expand again as soon as travel bans are lifted.