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Business Groups Support POGO Phaseout
Business groups and stakeholders expressed their support for the phaseout of Philippine Offshore Gaming Operators (POGOs), citing its “social and reputational” costs to the country.
In a joint statement, the Foundation for Economic Freedom (FEF), the Makati Business Club (MBC), and the Management Association of the Philippines (MAP) cited the crimes supposedly associated with POGOs.
“We fully support the Department of Finance’s (DOF) push to phase out all POGO operations, and urge our legislators and the Executive Department to take all actions necessary to execute in an orderly way,” the statement read.
The Department of Finance (DOF) has shared a similar sentiment, with Finance Secretary Benjamin Diokno earlier saying the industry has already been disallowed in other countries such as China and Cambodia.
“The social and reputational costs of government sponsorship of operations that are globally frowned upon far outweigh any economic benefits,” the statement read.
“Conflicting mandates and the lure of corruption have rendered it and other involved government agencies incapable of effectively regulating POGOs,” it added.
Data from the Bureau of Internal Revenue (BIR) show that revenues from POGOs have hit P4.438 billion from January to August this year, higher than the P3.91 billion collected for the full year 2021.
Last year’s collection fell short of the P32.1-billion goal, in line with Republic Act 11590 or the POGO Law, signed in September 2021 by then-President Rodrigo Duterte.
“The total ban will only result in temporary economic stains, as opposed to the enduring socio-economic consequences and heavier disruption if we do not act now,” the business groups said.
“The Chinese government has been quite categorical in its objections to POGO, which they characterized as harming not only China’s interest and China-Philippines relations but also hurt the interests of the Philippines,” they added.
Finance Undersecretary Bayani Agabin earlier this month said the country can recover the potential losses from the exit of POGOs in other industries with high value added.
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Bingo Paradise, a prominent UK iGaming affiliate, has announced its most successful quarter ever, achieving record growth during Q3 2024. The portal saw an unprecedented rise in first-time depositors (FTDs), a testament to its commitment to delivering value to players and operators in the highly competitive iGaming space.
“Q3 2024 has been a standout quarter for Bingo Paradise,” said Tom Waite, Manager of Bingo Paradise. “Our success is thanks to the hard work of our small team of talented writers and the oversight of our dedicated compliance manager. Together, they ensure that we provide honest, transparent reviews and operate within the highest industry standards. This, combined with our marketing efforts, including SEO and negotiating exciting player offers with operators, has been key to sending substantially more FTD’s to the operators.”
Bingo Paradise achieved a 65.24% year-over-year increase in FTDs compared to Q3 2023. This impressive growth underscores the affiliate’s focus on player-first strategies, such as creating honest, well-researched reviews that empower users to make informed decisions. The team’s compliance manager ensures every piece of content adheres to strict regulations, building trust with both players and operators.
A key factor in the platform’s success is its ability to negotiate exclusive offers with UKGC-licensed operators. These partnerships allow Bingo Paradise to provide unique deals that resonate strongly with players, enhancing its appeal as a go-to player resource. The focus on promoting only licensed operators also ensures fairness and security for users, which further solidifies the portals reputation.
The brands approach is a model of integrity and innovation. By prioritising compliance and transparency, Bingo Paradise, which itself is owned by Meteor Marketing Ltd has positioned itself as a trusted affiliate partner, both for operators seeking reliable collaborations and for players looking for guidance in the iGaming world. As the platform celebrates its Q3 2024 achievements, it remains committed to exploring new opportunities and maintaining its high standards.
Eagerly anticipated release now confirmed following a highly successful exclusivity period with Rush Street Interactive
Play’n GO has today announced the official US release of its hit title Colt Lightning Firestorm, following a three-week period of exclusivity with Rush Street Interactive brands BetRivers and SugarHouse.
Colt Lightning Firestorm was released in Europe and other jurisdictions in May 2024, and its release in the US comes with much fanfare following the game’s rave reviews in its short exclusivity period. The game is a sequel to the wildly popular Colt Lightning game which was released early last year, and indications at this stage suggest that this sequel may prove even more successful.
This announcement sees Colt Lightning Firestorm available to players in each state and operator with whom Play’n GO is licensed. Play’n GO first entered the online casino market in the US in 2022, and has reiterated its commitment to becoming active in every regulated market around the world.
Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re excited to unveil Colt Lightning Firestorm to the wider online casino gaming community in the US, and have been very pleased to see its strong performance during its exclusivity period with Rush Street Interactive. We had high hopes for the game following the success of its predecessor, and we’re confident that these robust results will continue now that the game is available to an even bigger audience.”
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