• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 1 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

POGO exodus harming Manila residential market

Newsdesk by Newsdesk
Thu 29 Oct 2020 at 03:47
PAGCOR reveals substantial POGO revenue rise in 2018 as enforcement role defended
159
SHARES
4k
VIEWS
Print Friendly, PDF & Email

Manila’s real estate market is feeling the impact of recent headwinds faced by Philippine Offshore Gaming Operators (POGOs) with a significant fall in both residential and commercial tenancies in the three months to 30 September 2020.

According to a report by Bloomberg, brokers are blaming an exodus of Chinese POGO workers as a result of fewer POGO employment opportunities on declining tenancy rates, with Manila office space vacancy having risen from 5.4% at the start of the year to 7.3% in 3Q20. Real estate services firm KMC Savills said in a report that around 47,800 square meters of office space was vacated in the third quarter alone.

But the decline in POGOs is also impacting residential markets, with KMC Managing Director Michael McCullough telling Bloomberg, “We’ve seen entire residential towers emptied out.

“We’ll continue to see a lot more of that continuing to compound in the next six months,” he said.

KMC estimates that rents in Manila could fall by up to 10% by the end of the year and by up to 25% in areas with heightened exposure to POGO bases.

There are currently 33 POGOs, 111 service providers and four Special Class BPOs (business process outsourcing) currently approved to resume operations by PAGCOR from the 60 licensed POGOs and more than 200 service providers nationwide.

RelatedPosts

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

Thu 28 Aug 2025 at 13:15
Winds of change

IAG announces program for 2025 IAG Academy Summit on 9 and 10 September at Manila Marriott, Newport World Resorts

Thu 28 Aug 2025 at 13:01
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
IAG announces 100 official judges for 2025 IAG Academy IR Awards at Newport World Resorts on Tuesday 9 September

IAG announces 100 official judges for 2025 IAG Academy IR Awards at Newport World Resorts on Tuesday 9 September

Wed 27 Aug 2025 at 13:03
Load More
Tags: ManilaPAGCORPhilippine Offshore Gaming OperatorsPhilippinesPOGOsreal estate
Share64Share11
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend reports US$182 million loss in 1H25 as imminent cessation of satellite casino operations add to going concern uncertainties

by Ben Blaschke
Mon 1 Sep 2025 at 06:08

Macau Legend Development Ltd, the owner and operator of satellite casino Legend Palace and its surrounding Macau Fisherman’s Wharf precinct, has detailed multiple uncertainties relating to its ability to continue as a going concern after reported a loss of HK$1.42...

China’s largest travel agency discussing agreement with Korea Tourism Organization

South Korea’s gaming and tourism industries call for overhaul of regulatory framework amid rising regional competition

by Newsdesk
Mon 1 Sep 2025 at 05:34

Representatives of South Korea’s tourism and casino industries have called for an overhaul of the country’s regulatory framework, arguing that integrated resorts with casino gaming must be fully utilized in order to boost international tourism. According to a report from...

Summit Ascent shareholders pave way for Suncity to take majority stake

LET Group and Summit Ascent report improved 1H25 performance on Tigre de Cristal upgrades, addition of export business in Russia

by Newsdesk
Mon 1 Sep 2025 at 05:16

Summit Ascent Holdings and its parent company LET Group reported a 64.7% increase in revenue to HK$312.9 million (US$40.1 million) in the first six months of 2025, aided by the improved performance of their Russian integrated resort Tigre de Cristal...

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

by Newsdesk
Sun 31 Aug 2025 at 09:16

Troubled Star Entertainment Group has announced the appointment of Bruce Mathieson Jr – the son of Australian pub baron and Star’s largest shareholder Bruce Mathieson – as a non-executive director of the company, subject to regulatory approvals. Mathieson Jr, currently...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English