BANGKO Sentral ng Pilipinas Governor Benjamin E. Diokno dismissed the risks to the banking system posed by online gaming firms, adding to his long-standing position that the Philippines can easily do without the industry.
METRO MANILA’S office space is expected to grow by 5% this year, with Makati City accounting for most of the supply, a property consultant said, while pointing to demand as continuing to be driven by offshore gaming operators.
INVESTORS unloaded stocks in some of the country’s top property developers on Thursday, amid worries that China’s crackdown on online gambling will dent the rising demand for office space and condominiums fueled by Philippine Offshore Gaming Operators (POGOs) and their Chinese workers.
THE Philippine Offshore Gaming Operators (POGOs) industry is expected to unseat the Information Technology and Business Process Management (IT-BPM) sector as the top office space occupier in Metro Manila by the end of the year, according to Leechiu Property Consultants (LPC).
DEMAND FOR office space from offshore gaming operators is expected to remain upbeat despite the government’s efforts to tighten regulation on the industry, as property consultants noted such moves will legitimize their presence in the country.
REAL ESTATE consultancy JLL Philippines said China’s contributions to the Philippine real estate market are critical, noting how the presence of Philippine Offshore Gaming Operators (POGOs) offset the slowdown of business process outsourcing (BPO) companies’ expansion in 2018.