PAGCOR, the Philippine gambling regulator, has announced a tender to search for a developer of an intermediary web platform for offshore operators.
The tender winner will be entrusted to develop, support and manage the online portal for 10 years. As a payment for creating and managing the project, the developer will be able to receive 10% of the profits coming from offshore PAGCOR licensees. The money will be accrued on a quarterly basis from the project launch date.
The declared cost of the project is 6 billion Philippine pesos ($ 127 million). PAGCOR will pay this sum to the developer annually for ten years to cover the costs of creating and maintaining the platform.
Companies interested in participating in the tender must submit applications by June 20. At the moment the tender offers have come from several companies from Malta and the Isle of Man.