Advertisement

Lone STL operator in Iloilo says it cannot afford conditions for reopening

Font Size

RED SUBAY Gaming Corp., the sole Small Town Lottery (STL) operator in the province of Iloilo, is unlikely to resume operations as it cannot meet the conditions set by the Philippines Charity and Sweepstakes Office (PCSO). “It is very difficult for us to comply with the conditions. We will just have to give it up if we cannot cope with it anymore,” Iloilo City Councilor Rommel D. Duron, also the legal counsel of Red Subay, said in a phone interview last week. The conditions include payment of arrears, and cash bond equivalent to three months of PCSO’s share in the guaranteed minimum monthly receipts (GMMR) on top of the existing cash bonds. “You need to buy one month and three months advance share of the PCSO, it is really difficult for us, where do they expect us to get that huge amount of money,” he said. With the conditions, Mr. Duron said they will have to deposit P333 million in GMRR on top of its existing P111 million bond. Red Subay was also given two weeks from Aug. 27 to pay its arrears totalling P390 million. President Rodrigo R. Duterte ordered the suspension of gaming operations of all PCSO outlets in late July due to alleged massive corruption. The ban for STL was later lifted, but authorized agent firms must meet the set conditions before being allowed to resume operations. — Emme Rose S. Santiagudo

Advertisement