The Philippine Amusement and Gaming Corp. (PAGCOR) announced that work permits for employees of Philippine offshore gaming operators (POGOs) will expire at the end of this year.
This decision follows President Marcos’ order to ban POGOs due to legal violations, announced during his State of the Nation Address on July 22.
PAGCOR CEO Alejandro Tengco confirmed that the ban, approved on August 15, will result in significant financial and employment losses.
PAGCOR estimates a revenue loss of P23 billion and the displacement of 40,000 workers.
Tengco had rebranded POGOs as Internet Gaming Licensees (IGLs) last year.
Source : PhilNews24 | August 28, 2024
