Philippines losing P99.52 billion yearly due to POGOs — DOFMANILA, Philippines — The Department of Finance (DOF) doubled down on its stance to ban Philippine Offshore Gaming Operators (POGOs), saying that allowing the gaming hubs to continue operations is costing the country P99.52 billion a year. The estimated total economic benefits of POGOs amount to P166.49 billion annually while the estimated total economic costs amount to P265.74 billion,” Adriano said. The economic benefits comprised both direct and indirect benefits. Indirect economic benefits are economic and fiscal multiplier effects. Meanwhile, the direct economic costs include lost investment opportunities, additional costs of law enforcement and the impact to tourism.

Source: Philippine Star July 16, 2024 21:49 UTC