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According to the Philippine Amusement and Gaming Corporation (PAGCOR), two Philippine offshore gaming operators and 14 local service providers have shut down their operations in the country.
The two companies are SC World Development Group Ltd. and Don Tencess Asian Solutions Inc.
PAGCOR Assistant Vice President for gaming licensing Jose Tria, gaming operators are forced to cease their operations due to various reasons including the strict tax regulation in the country and limited operational capacity due to quarantine restrictions.
PAGCOR expects more gaming operators to close due to the difficult business environment brought about by the COVID-19 pandemic.
Last week, The Philippine Star also reported the closure of five other POGOs and more than 10 local service providers. The closures displaced over 2,00 Filipino workers.
In May, the government allowed POGOs to partially resume operations, provided that they comply with tax requirements. PAGCOR Chair Andrea Domingo said that reopening POGOs could generate funds for COVID-19 response.
However, according to Tria, only 14 POGOs met the tax guidelines and received clearance from the Bureau of Internal Revenue (BIR) to resume operations.