CEBU, Philippines — Mandaue City is now eyed as the next favorite site for online gaming companies, next to Mactan island, a research firm revealed.
“After Mactan island, Mandaue comes second,” said Joey Roi Bondoc, senior research manager at Colliers International Philippines.
Bondoc said while Mactan island still attracts online gaming firms, Mandaue is becoming the next favored destination because of its proximity to the airport and availability of office spaces.
Bondoc said with this high interest of online gaming firms in Mandaue, demand for commercial condominium is seen to rise within the city.
Traditionally, Mandaue is known as the home-city of industrial and manufacturing companies. Today, as the city is shedding its image as an industrial hub into a versatile investment hub that includes BPOs, tourism, among others.
Bondoc mentioned that in Metro Manila for instance, offshore gambling drives the growth of property leasing largely the condominium developments.
This trend is seen to happen in Mactan and Mandaue areas specifically.
Usually, an offshore gaming company needs more or less occupies almost 5,000 square meters (sq.m).
“Our office still receives queries from offshore gaming firms planning to locate in Mactan Island. But after Mactan, Mandaue comes second,” he said.
He stressed that the rise of offshore gaming is seen to further pull up the leasing activities in Mandaue’s office sector as well as residential condominiums.
Some offshore gaming firms’ employees occupy residential condominium units.
The Philippine Amusement and Gaming Corporation (PAGCOR) expects Philippine Offshore Gaming Operators (POGOs) to account for additional revenue for the country’s coffer.
In 2018, Philippines gaming regulator PAGCOR has revealed that its POGO scheme contributed revenue of P7.365 billion (US$139.3 million) in 2018 – almost double the amount contributed in 2017.
A POGO refers to an entity that offers and participates in offshore gaming services by providing games to players, taking bets, and paying the winning players. The gaming activity refers to online games of chance through the internet, using a network and software, exclusively for offshore-authorized players who have registered and established an online gaming account with the PAGCOR-licensed POGO.
PAGCOR can issue a POGO license to qualified operators, which could be Filipino-based operators or foreign companies.
Online gambling operators’ demand for Cebu office spaces grew by 25,700 sq.m. in 2017. (FREEMAN)