• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Monday 1 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

PAGCOR cancels contract of POGO auditing firm

Ben Blaschke by Ben Blaschke
Fri 10 Mar 2023 at 04:26
Philippines senator says bank guarantee of POGO auditing firm clearly faked

Makati, Philippines

23
SHARES
570
VIEWS
Print Friendly, PDF & Email

Philippines gaming regulator PAGCOR said Thursday it has cancelled the contract of Global ComRCI, a third-party auditor hired in 2017 to track the revenues of licensed POGOs (Philippine Offshore Gaming Operators) and ensure they were paying the appropriate amount of tax.

In a statement, PAGCOR revealed it has issued Global ComRCI with a Notice to Terminate the Consultancy Contract and referred the matter to the Office of the Solicitor General (OSG) for the possible filing of administrative, civil and criminal cases against the auditor. It will also “explore all legal remedies available” for the restitution of more than Php800 million (US$14.5 million) out of the partial amount released to Global ComRCI prior to the assumption of the current administration, plus damages.

The termination of the contract follows allegations that Global ComRCI produced fraudulent documentation to win the PAGCOR contract. The documentation included an allegedly fake bank certification from the New York branch of Soleil Chartered Bank (SBC) showing the auditor met PAGCOR’s capital requirements.

SBC last month said it had never issued any such documentation, that Global ComRCI does not have an account with the bank and that the letterhead used in the bank certificate “is not the letterhead used by SCB New York.”

In Thursday’s statement, PAGCOR said it has determined Global ComRCI to be “IN DEFAULT of its obligations and prima facie evidence to have committed UNLAWFUL ACTS.”

The company will, however, be given the opportunity to present its case as mandated by local laws.

“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 said.

“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.”

RelatedPosts

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

Tecnet Asia aids Asian debut of APEX Gaming’s Clover Link at Solaire Resort Entertainment City

Thu 28 Aug 2025 at 13:15
Winds of change

IAG announces program for 2025 IAG Academy Summit on 9 and 10 September at Manila Marriott, Newport World Resorts

Thu 28 Aug 2025 at 13:01
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
IAG announces 100 official judges for 2025 IAG Academy IR Awards at Newport World Resorts on Tuesday 9 September

IAG announces 100 official judges for 2025 IAG Academy IR Awards at Newport World Resorts on Tuesday 9 September

Wed 27 Aug 2025 at 13:03
Load More
Tags: AuditorGlobal ComRCIPAGCORPhilippine Offshore Gaming OperatorsPhilippinesPOGO
Share9Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Macau Legend says no concerns over ability to continue after reaching agreement with lenders to defer HK$2.1 billion in looming repayments

Macau Legend reports US$182 million loss in 1H25 as imminent cessation of satellite casino operations add to going concern uncertainties

by Ben Blaschke
Mon 1 Sep 2025 at 06:08

Macau Legend Development Ltd, the owner and operator of satellite casino Legend Palace and its surrounding Macau Fisherman’s Wharf precinct, has detailed multiple uncertainties relating to its ability to continue as a going concern after reported a loss of HK$1.42...

China’s largest travel agency discussing agreement with Korea Tourism Organization

South Korea’s gaming and tourism industries call for overhaul of regulatory framework amid rising regional competition

by Newsdesk
Mon 1 Sep 2025 at 05:34

Representatives of South Korea’s tourism and casino industries have called for an overhaul of the country’s regulatory framework, arguing that integrated resorts with casino gaming must be fully utilized in order to boost international tourism. According to a report from...

Summit Ascent shareholders pave way for Suncity to take majority stake

LET Group and Summit Ascent report improved 1H25 performance on Tigre de Cristal upgrades, addition of export business in Russia

by Newsdesk
Mon 1 Sep 2025 at 05:16

Summit Ascent Holdings and its parent company LET Group reported a 64.7% increase in revenue to HK$312.9 million (US$40.1 million) in the first six months of 2025, aided by the improved performance of their Russian integrated resort Tigre de Cristal...

The Star Sydney’s casino license in limbo as final report from second inquiry handed to regulator

Son of Star’s largest shareholder joins Star Entertainment Group board as non-executive director

by Newsdesk
Sun 31 Aug 2025 at 09:16

Troubled Star Entertainment Group has announced the appointment of Bruce Mathieson Jr – the son of Australian pub baron and Star’s largest shareholder Bruce Mathieson – as a non-executive director of the company, subject to regulatory approvals. Mathieson Jr, currently...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English