MAPANDAN, Pangasinan: The Philippine Charity Sweepstakes Office (PCSO) canceled the permit of Golden Go Rapid and Gaming Corp. (GGRGC) stopping its operation of Small Town Lottery (STL) for its failure to remit more than P655-million collection.
In a letter dated November 6 obtained by The Manila Times, PCSO General Manager Alexander Balutan ordered GGRC through its president Geronima Choi to stop their operations until they remit the sum stated in the presumptive monthly retail receipt (PMRR).
The GGRC started its operation in Pangasinan on April 28, 2016.
Balutan cited the provisions in the STL implementing rules and regulations which states that failure of any agents to attain and or remit the PMRR shall be subject to termination of its authority to operation upon approval of the board..
The firm has five days to appeal upon receipt of the order otherwise the termination of its permit to operate STL shall be final.
Balutan said PCSO has already sent demand letters and have given more time and consideration to the GGRGC management to pay their shortfall but to no avail.
PCSO Board Secretary Michael Medado said the charity office’s Board of Directors has recommended the cancellation, revocation and termination of GGRGC including the forfeiture of its cash bond to cover the sales shortfall on October 25, 2017.
The agency’s Branch Operations Sector has reported the GGRGC sales shortfall of over P430-million as of October 30, 2017. It likewise ordered the forfeiture of the firm’s cash bond to cover the sales shortfall but was not enough to pay the firm’s obligations.
The STL franchise in Pangasinan is one of the biggest in the Philippines. It operates in almost 44 towns and four cities in the province where bettors pay a combination of numbers from one to 38.
Meanwhile, a source said GGRGC promised to remit P7.5- million per day or P225-million a month but said the firm is already doomed as it could not repay its shortfall.
Balutan earlier said the 56 STL franchisee-corporations nationwide could collect as much as P30-billion for this year to finance President Rodrigo Duterte’s charity projects and medical programs.