POGO BY THE NUMBERS

Here are some numbers attributed to POGO operations. These are quick and dirty computations just for the fun of it.

+ In 2022, the DOF estimated that collections from the 5% gaming tax will generate Php22.9 Bn. This means that gaming revenue is estimated to be as high as Php458 Bn for 2022.

+ After the imposition of this tax, however, actual collections were at Php7 Bn (~Php140 Bn revenue). This was because a lot of operators closed shop.

+ To put the Php458 Bn in perspective, Meralco’s revenue for 2023 is Php443 Bn. Meralco was established in 1902, so it took the company 122 years to reach that number. Meanwhile, it took POGO 7 years to reach that size.

+ No wonder investors raced to service this industry at its height. Getting a small percentage of this business will make anybody rich.

+ A recent article from PhilStar states that POGO operators occupy 1.05 Mn sqm of commercial space.

+ RCBC Plaza Tower 2 in Makati has a gross leasable area of approximately 53,000 sqm.

+ Therefore, POGO operators would vacate around 20 RCBC Plaza Towers.

+ According to Immigration figures, 20,000 foreign nationals are currently in the country that is supposed to be deported.

+ Let’s assume each of these employees is allotted 6 sqm of living space–which is the minimum required by the building code–they occupy an estimated 120,000 sqm of residential space.

+ If a typical unit is 80-sqm, they will vacate 1,500 80-sqm-units.

The point here is that many Filipinos benefited from POGO-related businesses. The DOF estimates that Php166.49 bn is generated through taxes, gaming activities, rentals, and private consumption, or approximately 0.5% of the PH GDP. While that number may be minuscule for the PH as a whole, we will definitely feel the impact in the (informal) RE sector. We will likewise find out who placed big bets in the POGO sector.