Compensation to Victims of Wrongful Detention and Prosecution

QUESTION from chat: Sir John, kinulong po ng gobyerno tatay ko ng walang kasalanan. Umabot ng 4 years ang kaso, nagutom kami, ako natigil sa pag-aaral. Na-abswelto siya last week. Paano kaya mabawi ni tatay ang nawala niyang income habang nakakulong?

ANSWER: Yes PWEDE. 1 percent of the net cash income of PAGCOR goes to the Board of Claims, an agency under the Department of Justice, which compensates victims of wrongful detention and prosecution.

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PAGCOR COMPANY PROFILE
URL: http://www.pagcor.ph/about-pagcor.php

The Philippine Amusement and Gaming Corporation is a 100 percent government-owned and controlled corporation created in 1977 by virtue of Presidential Decree 1067-A and was amended to PD 1869 on July 11, 1983, later known as the PAGCOR Charter.

In 2007 the PAGCOR Charter was further amended through Republic Act No. 9487 extending the PAGCOR Franchise for another 25 years

PAGCOR was created with a three-pronged mandate: to regulate all games of chance, particularly casino gaming in the country, to raise funds for the governments' socio-civic and national developmental efforts, and to help boost the country's tourism industry.

In accordance with its Charter and other governing laws, PAGCOR earnings are distributed as follows:

• 5 percent of net winnings goes to the BIR as franchise tax

• 50 percent of the 95 percent balance goes to the National Treasury as the National Government’s mandated income share

• 5 percent of the balance after the franchise tax and the National Government’s mandated income share goes to the Philippine Sports Commission for financing of the country’s sports development programs

• 1 percent of the net cash income goes to the Board of Claims, an agency under the Department of Justice, which compensates victims of wrongful detention and prosecution

• Cities hosting PAGCOR casinos are given a fixed amount for their respective community development projects
The remaining balance is then remitted to the President’s Social Fund to help fund the priority projects of the government.



PAGCOR operates 13 casinos in 10 major cities across the Philippines, along with 28 satellite casinos 24 VIP Clubs and 4 PAGCOR Arcades. The popularity of Texas Hold’em poker is on the rise in the country with the licensed poker rooms up to 36.


The table games available for play in PAGCOR casinos are the Asian favourite Bacarrat, its variant Super 6, along with the equally popular Black Jack, Pontoon, Stud Poker, Pai Gow, Sic Bo and Craps.


Live entertainment is provided by premier artists, both local and foreign performing center stage on all casinos at given nights. This is peppered by home grown variety of talents that entertain gaming aficionados nightly.


PAGCOR also provide electronic and web-based games in partnership with Philweb.

Connivance on PAGCOR Sale

It is anomalous when government starts dealing and conniving with a broker before or during the actual auction of PAGCOR. This could be a grand scam in progress (underprice anomaly) that is worth monitoring. PNoy Administration should remedy the situation -- have PAGCOR appraised properly and avoid talking with brokers.

http://www.philstar.com/Article.aspx?articleId=608471&publicationSubCategoryId=66

Consider Monopoly in PAGCOR Pricing

QUESTION: Sir John, I have read your blogs about PAGCOR underprice anomaly. Why do you think PAGCOR should have a higher price than $10B announced by Ramon Ang of SMC?

ANSWER: The whistleblower who contacted me about the underptice anomaly had indicated a price for PAGCOR at $25B maximum. I also personally believe it is more than $10B because you have to put value on the fact that it is a GAMBLING Monopoly. There are many income-generating vices attached to gambling such as entertainment and even underground economies of drugs and prostitution.

SMC's Ang - A Broker Pretending as Buyer on PAGCOR Privatization

Mabuti naman idadaan sa bidding ang PAGCOR Privatization. Pero mukhang nanginginbita na si Ramon Ang ng mga investors ah. Broker lang din eto si Ramon Ang katulad ko, na mag-coconsolidate ng buyers. Pareho lang kami walang pera na pambili ng PAGCOR kaya nag-coconsolidate ng buyers.

SMC's Ang has yet to invite partners in Pagcor acquisition | The Philippine Star News Headlines

Possible Senate Position on PAGCOR Privatization

[On the proposed PAGCOR Privatization - Part 6]

QUESTION: Anong possible position ng Senado on this PAGCOR Privatization? Is this a GO already?

ANSWER: Ang justification ng sale ng PAGCOR ay budget deficit. Ang solution na nakikita ko sa problem na yan ay increase ni PNoy ang revenue collection, di na kailangan mag-benta at gumawa ng bagong buwis. Mukahang okay ang Senate na ibenta ang PAGCOR dahil sabi nito na "we must contract the government" to finance the programs. Contract means reduce in size, meaning, privatize some assets.

Eto ang recent Transcript of SP Enrile's Interview after Committee on Finance Briefing: On GOCC's budget scrutiny: "We have to scrutinize them. The amount of money available for the expenditure of the government is not adequate. We cannot impose a heavy burden of additional tax to the people. If we want to really reduce our deficit and live according to our financial capability, WE MUST CONTRACT OUR GOVERNMENT and save some money for important things like education, health, infrastructure, agriculture & environmental protection. Kontrolado ng mga board of directors ng mga government corporations 'yung pera. It's outside the scrutiny of the Congress which ought to handle the raising of money and budgeting of funds according to the request of the President. We have to look at all of these things."

I May Participate as Broker in PAGCOR Sale

[On the proposed PAGCOR Privatization - Part 5]

QUESTION: Anong balak mo ngayon?

ANSWER: Naghahanda. I will send a letter to the Office of the President and request for permission to participate, as professional Broker, in the selling of PAGCOR. Para hindi maka-tanggi ang gobyerno, I will explicitely declare in my proposal that I will not take any commission from the seller (government). The "other" potential buyers will take me in to represent them in the auction, sila magbabayad ng professional fee ko to represent them as their Exclusive Buyer Agent (buyer-side broker). So, it is me versus yung mga kausap na ni PNoy na sila Ramon Ang.

Too Huge Kickback May Silence the Media

[On the proposed PAGCOR Privatization - Part 4]

QUESTION: Ano ang chances na mag explode etong PAGCOR Underprice Anomaly sa media at mga protesters?

ANSWER: Maliit ang chance dahil sobrang laki ng pwedeng ipamudmud para tumahimik. Bigyan na lang kita ng situation pare makita mo ang picture. Halimbawa ako, bilang kaibigan mo, kung maghingi ako ng advice sayo at tanungin kita kung tatanggapin ko ang P1B para tumahimik, ano i-advice mo sa akin, tatanggapin ko ba o hindi?

Will PAGCOR be Paid by the Buyer in Cash?

[On the proposed PAGCOR Privatization - Part 3]

QUESTION: Yung $10B ba na ibabayad daw ng potential buyer na kausap ni PNoy eh cash ba yun?

A: Hindi yan cash. Mag form yang consortium ng Real Estate Investment Trust, then mag offer ng shares of stocks sa public pwede tayong bumili ng shares na eto dahil ma-offer eto sa Philippine Stock Exchange. Yong makolectang pera ng mga investors na bibili ng shares of stocks, yun ang ibabayad ng consortium sa gobyerno. Laway lang ang kapital nila dyan, mapapasakanya na yang PAGCOR na yan.

Auction May Prevent PAGCOR Sale Kickback

[On the proposed PAGCOR Privatization - Part 2]

QUESTION: May solution ba para ma prevent ang underprice and kickback sa PAGCOR privatization sale?

A: Yes. Kung open sa ibang brokers ang offer and merong Auction sa pagbebenta.

By the way, government auction is the right term if the item is for sale by government to sevaral potential buyers. You use the term government bidding when the government purchase something from several registered suppliers.


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Q: Ano ang possibility? Maging open ba?

A: Kung titingnan ang pattern sa isa pang bentahan na niluluto nila, mukhang hindi magiging auction. One newspaper already published and said that a high rank PNoy man said the DOJ would also have to study questions on whether the offering of the properties would still have to be subject to bidding if there would be a number of parties interested in them.

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In the Business Mirror, there is an interesting article titled "Offers for PAGCOR Tantalizing, but.." at http://businessmirror.com.ph/index.php?option=com_content&view=article&id=28692%3Aoffers-for-pagcor-tantalizing-but&catid=28%3Aopinion&Itemid=64

On the proposed PAGCOR Privatization

QUESTION: Sir John, what is the anomaly we expect to see in the proposed PAGCOR sale? ANSWER: It is called UNDERPRICE ANOMALY. Example, government have asset worth $25B, government crooks will sell it at $10B. As a result, the buyer saves $15B and will pay government crooks 50% of the $15B price-cut as kickback.

In my rough calculation in this particular deal, potential kickback is around $7.5B that is roughly around 375B Pesos.

My Question to PNoy on PAGCOR Sale

Magandang gabi po minamahal na pangulong PNoy. Magtatanong lang po. Ikaw po ba nag-utos kay Lacierda at sa DOJ na mag-isip ng paraan kung papano maiwasan ang bidding sa lease ng Navy Facility and sale ng PAGCOR para mabenta eto na underprice? Hindi po kasi claro sa report na nareceive ko po eh. Kung hindi po ninyo mamasamain, Yes or No lang lang po ang sagot na kailangan ko para hindi po kayo mapagod. You have to answer this po sir. Don't tell me po later po na hindi po kita tinanong ha.

Ano po ba ang basehan sa $10B na presyo ng PAGCOR na lumabas na po sa media? Dalawa lang po ang pwedeng sagot para madali po sagutin po. (A) Offer price po ba eto ng BUYER or (B) APPRAISAL REPORT po eto ng gobyerno?

Broker din po ako at meron po akong license. Anong opisina po ako lalapit para makilahok sa usapin ng sale ng PAGCOR. Sa professional opinion ko po kasi ay pwede kong ibenta ang PAGCOR sa mas mataas pa po sa $10B. Sana po ang mga ibang brokers na kausap po ninyo ay mga lisesyado din po katulad ko.

Itataya ko ang professional skills ko as Broker para tulungan ang gobyerno na ma-benta ang PAGCOR sa true value nito na around $25B.... ang rough figure na $10B ... ay masyadong underprice. At kaya kong itaya ang buhay ko para subaybayan ang anomaly na eto.

Naghihintay ng kasagutan.

On 08/10/2010, 10:pm, I posted this message to the wall of the OFFICIAL Facebook Page of PRESIDENT Noynoy Aquino at
http://www.facebook.com/noynoy.aquino?ref=ts#!/noynoy.aquino?ref=ts