The remainder of the four licensed Philippine Offshore Gaming Operators, or POGOs, licensed in the Subic Bay area northwest of Manila Bay are set to cease operations due to financial stress caused by the Covid-19 pandemic, according to a report in the Philippines Inquirer.
One of the Subic Bay POGOs halted operations two weeks ago. Subic Bay Metropolitan Authority Chairwoman Wilma Eisma told the Inquirer last week that “the owners of the remaining POGOs have said that they are also in the process of winding down.”
Last month, Eisma disclosed the departure of nearly 1,000 Chinses workers from Subic Bay after licensed POGO Great Empire Gaming and Amusement Corporation shut down, citing losses of around Php100 million (US$2.1 million).
“This is because the POGO operators cannot do business after the declaration of the Luzon-wide enhanced community quarantine last March, and thus were losing money,” Eisma said of the POGO closings last month, according to Inside Asian Gaming.
“It’s saddening in a way, because the POGO closure is a signal that the economy is not yet there, and I would think (the) economy not just in the Philippines but also worldwide because the POGO clients are not in the Philippines, but outside of it,” Eisma said last week, according to IAG.
POGOs are licensed online gaming operators that cater to customers outside of the Philippines. There are currently 55 licensed POGOs in the Philippines, down from 60 at the start of 2020.
