Philippine gaming regulator PAGCOR has today announced that it has invited external companies to tender for the opportunity to develop an intermediary platform for its Philippine Offshore Gaming Operator (POGO) licensees.
The winning bidder will develop, maintain and manage the system for a period of 10 years, ensuring that it meets the requirements set out in the POGO legislation.
They will be paid 10% of the net revenue earned by PACGOR in fees from its offshore licensees every quarter from the commencement date of the project.
In a document confirming the opening of the bidding process, PAGCOR said: “In carrying out the project, PAGCOR requires the engagement of the services of an experienced and qualified consultant that possesses the requisite knowledge, expertise and background, specifically in the field of the development, operation and management of any audit program/intermediary platform to guarantee the successful execution of the project,”
The regulator has confirmed that they will ring fence PHP6bn every year for ten years to cover development and maintenance costs, with this allocation commencing later this year.
Companies which are interested in tendering for the project have until June 20th to submit their tender offers, with several firms from Malta and the Isle of Man already registering their interest.