Recto reviews POGO pros, cons
‘I have to consult with PAGCOR about how much they are earning from POGOs. I want to double-check.’
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‘I have to consult with PAGCOR about how much they are earning from POGOs. I want to double-check.’
An in-depth study on the economic impacts of Philippine offshore gaming operators (POGOs’) activities is ongoing after some lawmakers suggested banning them, according to the Department of Finance.
Finance Secretary Ralph Recto said he would verify revenue numbers on POGOs with the state-run Philippine Amusement and Gaming Corp. (PAGCOR) before recommending to President Ferdinand “Bongbong” Marcos Jr. about the proposed POGO ban.
“I have to consult with PAGCOR about how much they are earning from POGOs. I want to double-check,” Recto said after the media briefing on LRT 1 Cavite Extension Project on Friday in Parañaque City.
Data from the DoF showed POGO firms paid a total tax of P8.88 billion in 2022, surging by 127 percent from P3.91 billion in the previous year. Meanwhile, PAGCOR reported POGOs’ gross gaming revenue reached P11 billion.
Missed revenues
However, Senator Sherwin Gatchalian said the government might be losing P51 billion in revenues from unregistered POGOs.
Some senators said Marcos must order a ban on POGOs due to bigger issues, namely threats to national security, money laundering and human trafficking.
They resurfaced from the raid conducted in March by the authorities in Baofu compound of POGO firm Zun Yuan Technology Incorporated in Bamban, Tarlac.
Over 800 POGO workers there were rescued from illegal detention and human trafficking, the Presidential Anti-Organized Crime Commission reported.
These led to the Senate’s investigation on Bamban Mayor Alice Guo believed to be protecting Zun Yuan Technology and serving as a spy for China amid its territorial conflict with the Philippines over the West Philippine Sea.
Amid these multiple issues, Recto said the senators are allowed to investigate freely.
“It is within the right of the lawmakers to talk about a ban on POGO. That’s fine with me; I have no objection to that,” he said.
Recto refused to give a clear stance on the proposed POGO ban as he is still looking at the latest data on POGO.
“At the appropriate time, I will make my advice,” he said.
However, Recto, former 4th District representative of Batangas and whose wife is former governor of the province, stressed Batangas has been economically progressing without POGOs.
“But like I said, we don’t have POGOs in Batangas and I think we’re doing very well,” he said.
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