(Bloomberg) -- The Philippines has allowed online casinos targeting Chinese gamblers to partly resume operations amid a lockdown on the main Luzon island.
“The decision was reached with the intention of helping the national government raise necessary funds to combat the novel coronavirus pandemic,” the Philippine Amusement & Gaming Corp. said in a statement.
Only 30% of a Philippine offshore gaming operator's work force per shift will be allowed to operate, the regulator said. Employees who will report back to work must be tested for Covid-19, with social distancing and wearing of masks practiced at all times, it added.
Key Insights
- The gaming agency requires Philippine offshore gaming operators, or POGOs, to remit 2% of their gross gaming revenue as regulatory fees. Such fees brought in revenue of 5.73 billion pesos ($113 million) in 2019, and 1.8 billion in the first quarter of this year.
- Prior to resuming operations, POGOs and their service providers must settle all their tax liabilities with the Bureau of Internal Revenue and update their payment of regulatory fees, the gaming agency said.
- The regulator said as many as 31,556 Filipinos work in the industry, which pays property companies 25 billion pesos on leaseholds and rentals on about 1 million square meters of office space.
- In January: Philippines Halts Easy Visas for Chinese Tourists Amid Virus
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