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Only 2 companies allowed to operate online ‘sabong,’ Pagcor chief clarifies (Sabong News)

Only 2 companies allowed to operate online ‘sabong,’ Pagcor chief clarifies
Author BusinessMirror
Date MAY 10 2021
The Philippine Amusement and Gaming Corp.(Pagcor) clarified over the weekend that there are only two companies that are allowed to operate online sabong in the country. The clarification was made by Pagcor Chairman Andrea Domingo in a recent radio interview due to the proliferation of illegal e-sabong in the Internet. According to Domingo, only the Lucky 8 Starquest of Atong Ang and the Belvedere Corp. of businessman Bong Pineda were issued with licenses to operate sabong online after paying the performance bond of P75 million each. “There were actually five companies who applied, but only two­—Lucky 8 at Belvedere—that have complied with the payment of a P75-million bond each,” Domingo explained in Filipino.   It was learned that the companies, Encuentro, Magnus, and Oriental Capital Venture are not yet allowed to operate online sabong on their web sites because they have yet to pay the corresponding fees and taxes. She also warned that Pagcor “has been coordinating with the Philippine National Police apprehend online sabong sites that are yet to be issued with the corresponding permit. Some of the illegal online sabong web sites are and  Both web sites are said to be owned by unnamed lawmakers. “E-sabong is now major source of funds with the closure of casinos amid the pandemic,” the Pagcor chief said. She added that the earnings from e-sabong go to the social funds of the President, which are being given by President Duterte to hospitals and as cash aid to marginalized Filipinos. Meanwhile, the Lucky 8 Starquest of Pitmaster live said they have revoked the authorization given to Diversified Financial Network Inc. (DFNN), owned by Raymond Garcia, to collect or receive bets from sabong online. “Lucky 8 Starquest Inc. decided not to pursue the said venture anymore to honor its undertakings with the local government units,” according a statement issued by the company. “And in order to avoid possible conflict of interest, Lucky 8 Starquest Inc., shall continue to fully operate on its own e-sabong online platform pursuant to its license with Pagcor,” the statement added.

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