Senator Sherwin Gatchalian on Friday renewed calls for gaming regulator PAGCOR to scrap a 10-year, Php6 million contract issued to a third-party auditor to audit POGOs, citing further confirmation that the auditor in question faked its credentials.
As previously reported by Inside Asian Gaming, Soleil Chartered Bank (SBC) was last month named as having issued a bank guarantee to audit firm Global ComRCI, which in 2017 was awarded the contract to track the revenues of licensed Philippine Offshore Gaming Operators (POGOs) and ensure they were paying the appropriate amount of tax. However, it was also revealed that Global ComRCI is not registered in the Philippines, did not supply correct documentation in its bid and that SBC itself is unlicensed in the Philippines.
Providing an update to the situation, Gatchalian said Friday he had now received a letter from the governor of SBC confirming that the bank does not operate in the Philippines and had no record of ever issuing such documentation or of even corresponding with Global ComRCI.
“This brings to question not just the legitimacy of the contract but also the credibility of Global ComRCI to conduct a third-party audit of POGO gaming revenues,” Gatchalian said.
In a statement issued in late January, PAGCOR said it was continuing to review the situation and would release further details soon.
“With the assumption of the new leadership of PAGCOR [in August], the contract of Global ComRCI was put under review last September 2022,” PAGCOR said.
“We assure the Senators that the review will soon be finished and released at the proper time. We have been in contact with Global ComRCI and are currently assessing the contract’s terms and conditions and the company’s performance.”
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