Red Subay to kick off STL operation on Oct. 8
- TBN News
- Oct 6, 2018
- 2 min read
THERE is no stopping the Small Town Lottery (STL) operation in Iloilo province.
Red Subay Gaming Corp., the sole Authorized Agent Corporation (AAC) of the Philippine Charity Sweepstakes Office (PCSO) in Iloilo province, announced that they will kick off their operation on Monday, Oct. 8.
Following a short program, the company will make its first draw.
To jump start their operation, a consultative meeting was done Oct. 5 among local chief executives and police authorities in the province.
Iloilo Governor Arthur Defensor, Sr. was represented by provincial administrator Raul Banias.
A number of mayors also attended, as well as chiefs of police of the different towns of Iloilo.
Also in attendance were Senior Superintendent Marlon Tayaba, Iloilo police chief, and Senior Superintendent Harold Tuzon who represented Chief Superintendent John Bulalacao, Western Visayas police chief.
“We called for this meeting to thresh out any questions and problems that might be encountered during the actual operation,” said lawyer Romel Duron, Red Subay’s legal counsel and one of its incorporators.
For Duron, the main target is to reach the firm’s P111 million PMRR or an average of P3.7 million PMRR sales a day.
PMRR or presumptive monthly retail receipts is the amount determined by the Philippine Charity Sweepstakes Office as the “presumed minimum monthly sales of an ACC which shall be subject to monthly review.”
One of the biggest stumbling blocks would be the operationd of bookies or illegal gambling.
Duron said if bookies operations could be curbed, the P111 million PMRR is attainable.
After all, they already conducted a feasibility study about it.
“Only we might not reach it because instead of the money going to the government’s coffers, it will go to the illegal gambling operations. That’s why we are asking for cooperation from the mayors and police officials in every town and city,” he added.
Based on their study, Red Subay can meet the PMRR if 30 percent of the province’s over 2-million population place an average bet of P12.50 for two draws.
Red Subay will be based in Sta. Barbara, Iloilo.
Meanwhile, Federico Damole, PCSO-Visayas department manager, confirmed that PCSO already issued a notice to proceed to Red Subay.
Damole said that Iloilo province’s share was indeed changed from from 0.5 to 1.0 percent while the municipality and component city is at 3 percent.
“It might not appear to be big but if you consider the scope of the operation and the amount, it is big,” he added.
The sharing percentage is uniform in the entire Philippines.
On Sept. 10, Red Subay paid in full the performance bond (equivalent to one month PMRR) plus 25 percent authorization fee totaling P138,736,000 in order to operate.
Red Subay is headed by its chief operating officer (COO) Octavio Antonio Marasigan and has incorporators from Luzon and Mindanao.
The other incorporators are Nehru Ampatuan, Noel Virtucko, and Anthony Pe.
Duron is the only incorporator from Iloilo aside from being the legal counsel of the gambling firm.
SOURCE: The Daily Guardian
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