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PAGCOR owes Government PHP15.4 billion

Tuesday, July 12, 2016 :  NEW BLOW FOR PAGCOR
 
Government audit commission claims government owed PHP15.4 billion (US$325.5 million) by regulator.
 
PAGCOR, the Philippines gaming regulator already reeling from a moratorium on its power to issue licensing has now been hit with a government claim for PHP15.4 billion (US$325.5 million) as a result of under-remittances from 2011 to 2015.
 
The Commission on Audit annual report notes that PAGCOR should have remitted PHP 98.5 billion in total to the Bureau of Treasury, but only remitted P72.599 billion. Apparently the PAGCOR miscalculation was due to its incorrect interpretation of the law.
 
Responding, PAGCOR management maintains that it remitted the correct amount, but the Commission remains adamant that its calculations are correct.
 
“We stand firm with our stance that aggregate gross earnings pertained to the totality of the income from gaming revenues and income from other related services,” the audit authority said in a statement.
 
In related news, online gambling company PhilWeb has been given temporary breathing space on its recently expired licensing from PAGCOR, which has agreed a month-by-month renewal while it sorts out its own problems following the condemnation of internet gambling by the recently sworn in Philippines president Rodrigo Duterte.
 
InfoPowa readers will recall that the presidents antipathy to online gambling has resulted in a moratorium on new PAGCOR licensing.
 
PhilWeb shares continued to decline Monday, dropping another 13.6 percent following its request on July 4 for a three day suspension in trading (see previous InfoPowa reports).
 
In a statement to the Philippines stock exchange PhilWeb revealed that its licence had been extended until August 10. Along with the filing was a letter from the new PAGCOR chairperson, Andrea Domingo, stating the licence would only be issued for the month until President Rodrigo Duterte’s “directive regarding online gambling can be clarified.”



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Michael Myers is back in Halloween Slot Machine - Get ready for a blood-curdling adventure with Microgaming’s latest offering – Halloween Follow Annie, Lynda, Doctor Loomis, and our heroine Laurie as they try to survive the ultimate horror movie villain, Michael Myers.

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Day 1a MPN Poker Tour Tallinn Main Event - Day 1a brought 106 entries into the €550 Main Event, with nearly as many players turning out for the last €35 super satellite into tomorrow’s Day 1b

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

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