NextGen Day

The Philippine Amusement and Gaming Corporation (PAGCOR) was criticized by senators on Monday for what they saw to be its tardiness in responding to the unlawful operations of Philippine Offshore Gaming Operators (POGO), which they want completely outlawed.

During a privileged speech by Senator Grace Poe last year, Senator Sherwin Gatchalian, the chair of the Ways and Means Committee that held a hearing, mentioned Brickhartz Technology Inc. and MOA Cloudzone Corp., which were linked to kidnapping instances.

According to assistant vice president of the PAGCOR Offshore Gaming Licensing Department Jessa Fernandez, Brickhartz was penalized USD10,000 or roughly PHP500,000 while MOA Cloudzone has not yet submitted a report.

Both businesses are still running.

“Do you believe this regulation is effective? What did you accomplish after 30 days, nothing? In terms of handling crimes, there is no sense of urgency inside PAGCOR. None of the POGO operators, particularly those engaged in criminal activity, appreciate us because we’re slow and our punishment is only PHP500,000, Gatchalian claimed.

Senators Ronald Dela Rosa and JV Ejercito argued that PAGCOR should collaborate with the Pasay City police, who are in charge of the case, and that the gaming regulatory body must resist POGO’s influence.

Gatchalian questioned whether PAGCOR’s lenient treatment of the companies is related to the money they are earning.

“We need urgency if you want to regulate this properly. I fail to see that. I believe you are being forgiven toward the offenders. You don’t treat them harshly, and you profit from them. The conflict of interest is clear here, according to Gatchalian.

Gatchalian claimed in a statement on Sunday that there are more reasons to completely outlaw POGOs than to allow them to continue, such as their negligible effect on employment and a small contribution to tax collection.

President Ferdinand R. Marcos Jr. stated that the ban is conceivable if it is decided that the continuous presence of POGOs is no longer worthwhile at a media event in Zurich, Switzerland, on Friday following his attendance at the World Economic Forum in Davos.

shady auditor agreement

Gatchalian also censured PAGCOR for neglecting to review the paperwork for a PHP6 billion, 10-year contract that was given to Soleil Chartered Bank (SCB), a third-party auditor, in 2017.

According to Gatchalian, SCB was not recognized as a commercial bank with the Bangko Sentral ng Pilipinas (BSP), was not permitted to issue bank guarantees or certificates, and was not registered with the Bureau of Internal Revenue.

The standby letter of credit submitted by SCB instead of the needed bank certificate, according to BSP official Clarevel Santos-Madrid, has no legal standing because the company is not registered.

According to its website, the SCB, which is situated in New York City, “is an international trade finance institution formed to handle and solve worldwide trade finance documentary issues.”

It audits the taxes paid by POGOs as a third party.

Although he acknowledged that the PAGCOR legal team did not thoroughly review the SCB, Roderick Consolacion made a commitment to look into the concerns brought up during the hearing.

They might be working together with POGOs or PAGCOR itself, according to Gatchalian, “since PAGCOR must study and adhere to its own terms of reference in order to obtain an appropriate third party auditor.”

Gatchalian stated that he will submit a resolution to request that the Blue Ribbon Committee look into the matter.

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