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Manila Bulletin devider Philippines devider National devider Pagcor admits 'big challenge' in convincing foreign investors that POGO ban benefits the Philippines

Pagcor admits 'big challenge' in convincing foreign investors that POGO ban benefits the Philippines

Published Jul 25, 2024 08:34 am

At A Glance

  • Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (Pagcor), admits that there's "a big challenge" in convincing the foreign investors of remaining legal Philippine offshore gaming operators (POGOs) of the benefits the country will gain as a result of the ban set by President Marcos.

Screenshot_2023-08-14-12-58-23-28_f9ee0578fe1cc94de7482bd41accb329.jpgPhilippine Amusement and Gaming Corporation (Pagcor) Chairman Alejandro Tengco (Screenshot from Facebook Live)

 

 

 

 

 

 

 

Alejandro Tengco, chairman of the Philippine Amusement and Gaming Corporation (Pagcor), admits that there's “a big challenge” in convincing the foreign investors of remaining legal Philippine offshore gaming operators (POGOs) of the benefits the country will gain as a result of the ban set by President Marcos.

“Iyan po ang magiging malaking hamon sa amin para makumbinse sila na talagang ito’y ginagawa para sa kabutihan ng buong bansa,” said Tengco during a recent House committee hearing.

(That will be the big challenge for us, to convince them that this is really being done for the good of the whole country.)

Tengco gave this response following a concern raised by Bulacan 5th district Rep. Ambrosio “Boy” Cruz on the possible “mixed signals” that the ban will pass on to foreign investors.

“Yung 43 na compliant, mga investors na matitino pagkatapos biglang magsasarado. Baka we'll be sending mixed signals sa mga good investors dito sa Pilipinas,” said Cruz.

(The 43 that are compliant are investors who are decent, and now they’re being closed down. Maybe we'll be sending mixed signals to good investors here in the Philippines.)

Corroborating the lawmaker’s sentiment, the Pagcor chair said he has already received a call from a group of Singaporean investors questioning the ban as it directly impacts licensed online gambling hubs.

POGOs have been linked to criminal syndicates, with recent raids on establishments showing proof of crimes such as torture, prostitution, and kidnapping. 

While Tengco didn’t specify how they will explain the matter to investors, he admitted that the gaming regulator would probably find this act a “problem” in itself.

He, however, assured House members that the 43 remaining legitimate POGOs—now labeled as Internet Gaming Licensees (IGLs)---would certainly follow Marcos’ directive.

With this, Tengco disclosed that Pagcor is in coordination with the Department of the Interior and Local Government (DILG) and the Department of Labor and Employment (DOLE) to establish an inter-agency task force that would oversee the closure of the remaining POGOs. 

He emphasized that they are set to continue the monitoring of cities and municipalities identified to have underground or illegal POGOs. 

Related Tags

POGO Pagcor House of Representatives Alejandro Tengco
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