Right from the beginning of the Covid-19 pandemic, industry analysts predicted there would be hard times for many operations, with those short on cash likely to go under as the crisis dragged on. That’s proving true in the Philippines, where Five Philippine Offshore Gambling Operators (POGOs) have now closed. But there is light at the end of the tunnel, as 11 have now been permitted to resume operations.

Philstar reports that the 5 POGOs, as well as 10 local service providers shut down, informing staff of the decision as much as two weeks ago. Over 2,000 Filipinos have lost work as a result, in positions ranging from live dealers, I.T., admin and production staff.

The strict shutdown of POGO offices during the Enhanced Community Quaratine, combined with the ongoing costs to continue operation, were blamed for the shutdowns. It likely didn’t help matters that the Bureau of Internal Revenue (BIR) demanded a full payment of outstanding taxes for operations to resume.

“Short on cash following three months of suspended operations, it won’t be surprising if more POGO firms and local service providers will close shop soon,” a source told the outlet.