The closure of the Philippine offshore gambling industry is official following the signing of an executive order by President Ferdinand Marcos Jr.
The executive order was signed on November 5 and published on Friday, formalising the end of offshore gaming operations, also known as POGOs.
President Marcos called for the closure of all POGOs in his State of the Nation address in July, citing links between the industry and organised crime.
The executive order states that the risk posed by POGOs far outweighs any social and economic benefits, while also posing a substantial threat to the integrity of the national financial system.
The shutdown relates to online gaming operations targeting players outside the Philippines and does not affect the domestic operations of the Philippine Amusement and Gaming Corp. (PAGCOR).
As per the executive order, all offshore gambling operations must cease by December 31, 2024.