DURING The Manila Times 11th Business Forum on Tuesday, among the vast number of revelatory or at least interesting points made by the various speakers was one by BDO Capital & Investment Corp. President Eduardo Francisco about the Philippine offshore gaming operator (POGO) sector.
The recent action by China to cancel the passports of thousands of POGO-bound workers — people their government suspects are involved in financial crimes in other countries — is, in Francisco’s view, an indication of heightened risk to the local economy from the controversial sector. “Worst-case scenario, you could see cancellations in some of the POGO rentals” if the Chinese crackdown expands, he said.