The governmental gambling monopoly of the Republic of Philippines, PAGCOR, has declared its intentions of putting the Roulabette Project into practice in the 14 casinos they possess.

Hebert Lindo, president and counselor for Kenilworth Systems Corporation, said that they have asked for the letter demonstrating PAGCOR’s willingness to take part in the Roulabette Project while approval is still under consideration.

This letter allows the company to move forward regarding the negotiations with satellite and cable companies interested in providing the Roulabette patented system to their users. He added: “we now have to start dealing with designers and manufacturers to get the equipment required so as to make Roulabette available in the industrialized world”.

The compliance letter, signed by both companies, states an agreement through which Kenilworth grants PAGCOR a monthly payment as soon as they start working, during a contract period of 10 years. During the first year, one million dollars will be paid, amount to be increased along the following years until the fee reaches ten million.

The launching will take place at the Hyatt Hotel and Casino in Manila, and it will include all casino and leisure sites in Philippines, scheduled for the beginning of 2007. The firm has also assured to own the 25 million dollars needed to develop this business plan.

According to Lindo, Kenilworth believes Roulabette is bound to turn into a net market income worth 500,000 million dollars, which will be shared among all participants by 2011. The letter was signed by Rene C. Figueroa, administrative vice-president and business manager for PAGCOR.