Thu| 3.9.2023 | 11:30 AM

After careful investigation and in accordance with R.A. No. 9184 otherwise known as the “Government Procurement Act”, the Philippine Amusement and Gaming Corporation (PAGCOR) has issued a Notice to Terminate the Consultancy Contract with Global ComRCI, the third-party auditor for licensed offshore gaming operations.

Moreover, PAGCOR has endorsed the matter to the Office of the Solicitor General (OSG) for the possible filing of administrative, civil and criminal cases against Global ComRCI. PAGCOR shall likewise explore all legal remedies available for the restitution of more than P800 million out of the partial amount released to Global ComRCI prior to the assumption of the current administration as well as damages it has caused to the Corporation.

Since September 2022, the new PAGCOR management has been conducting extensive reviews of PAGCOR’s existing contracts, among which is with Global ComRCI. Upon careful evaluation, PAGCOR has determined the Third-Party Auditor to be IN DEFAULT of its obligations and prima facie evidence to have committed UNLAWFUL ACTS.

Nevertheless, under the principle of due process, Global ComRCI has been given an opportunity to be heard, as mandated by R.A. No. 9184.

PAGCOR would like to reiterate that contrary to previous reports, it has not yet paid the contract amount of P6 billion to Global ComRCI. Moreover, no payment has been made by PAGCOR in the past four years due to the shortfall from the minimum revenue stipulated in the contract.

In the absence of an external auditor, PAGCOR will temporarily undertake auditing functions for its offshore licensees until it is able to contract another third-party auditor through a transparent and strict bidding process.

PAGCOR is firm in its commitment to uphold the integrity of the gaming industry in the country so that all revenues from regulated gaming will continue to support the government’s nation-building efforts and uplift the lives of Filipinos.

Go back