{"id":326758,"date":"2024-02-16T01:05:01","date_gmt":"2024-02-15T17:05:01","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=326758"},"modified":"2024-09-01T22:32:38","modified_gmt":"2024-09-01T14:32:38","slug":"house-panel-approves-pogo-ban","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/house-panel-approves-pogo-ban\/","title":{"rendered":"House panel approves POGO ban"},"content":{"rendered":"\n<p>A panel of the House of Representatives on Monday approved two measures seeking to ban Philippine offshore gaming operators (POGOs), citing their social costs and possible national security implications. <\/p>\n\n\n\n<p>The House committee on games and amusements, chaired by Cavite Rep. Antonio Ferrer, gave the nod to House Bill No. 5082 and House Resolution No. 1197, both proposing to prohibit Pogos in the Philippines. This was despite assertions by the Philippine Amusement and Gaming Corp. (Pagcor) that it was already strictly regulating these firms, which it renamed Internet Gaming Licensees during the last quarter of 2023 alongside the implementation of new rules and regulations for the industry.<\/p>\n\n\n\n<p>Cagayan de Oro Rep. Rufus Rodriguez, who authored HR 1197, thanked the panel \u201cfor having the courage to stop Pogo once and for all.\u201d Manila Rep. Bienvenido Abante Jr., who filed HB 5082, said that \u201ceven setting aside moral and social considerations, we must wake up to the realities that these Chinese nationals are making a mockery of our laws, peace and order, and our cherished moral values,\u201d he said, citing various crimes allegedly being committed within Pogo hubs and the displacement of Filipino laborers in favor of foreign workers.<\/p>\n\n\n\n<p>HB 5082 would prohibit \u201cany person or entity to conduct online games of chance or sporting events via the internet using a network and software or program, exclusively to offshore authorized players within Philippine territory.\u201d<\/p>\n\n\n\n<p>During Monday\u2019s hearing, Pagcor chair Alejandro Tengco assured the panel that his agency was already exercising strict monitoring and regulation of Pogos and expressed reservations over banning their operations. \u201cWhen we did the reevaluation in September [and] October 2023, part of the cleansing process that we did was change its name, its structure and regulations,\u201d he pointed out, adding that in 2019, at the height of Pogo operations, there were close to 300 licensees \u201cand all these criminal activities happened through the years,\u201d prompting Pagcor to cleanse the rules and regulations and rename the licensees \u201cbecause Pogo had become too negative.\u201d<\/p>\n\n\n\n<p>Tengco noted that at its peak with 300 licensees, Pogo generated P7 billion in license fees, but pointed out that with only 75 licensees as of end 2023, Pogo still generated P5.2 billion in such fees. He also noted that Pagcor revenues from Pogos were not much at 5 to 6 percent of the agency\u2019s total income. <\/p>\n\n\n\n<p>The Pagcor chair said that if the Pogo industry was properly regulated, \u201cand it is happening today,\u201d it could still be put in order.<\/p>\n\n\n\n<div style=\"height:26px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p style=\"font-size:16px\"><em><em>This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about <a href=\"https:\/\/www.pinoyinvestor.com\/smartinvestor\/our-partner-brokers\/\">our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here\u2019s a commentary on an important issue or event affecting the stock market<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1124,11],"tags":[],"class_list":["post-326758","post","type-post","status-publish","format-standard","hentry","category-commentaries-special-reports","category-special-reports","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/326758","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=326758"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/326758\/revisions"}],"predecessor-version":[{"id":326760,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/326758\/revisions\/326760"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=326758"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=326758"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=326758"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}