If state-run Philippine Amusement and Gaming Corporation (PAGCOR) can afford to buy 18-karat gold memento rings for its loyal employees, surely it can also pay the PHP21 billion ($393 million) it owes the government?

This was the question raised by Philippine Commission on Audit (COA) as it demanded the state gaming regulator to pay billions of pesos it owed the government, according to The Philippine Star.

In its latest report, COA claimed that PAGCOR erred in computing the amount of money it remitted to the government for the past seven years. Under the Philippine law, the national government received 50 percent of the state gaming firm’s “aggregate gross earnings.” That money would, in turn, be allocated for the government’s infrastructure and socio-civic projects.

However, the state auditors found that PAGCOR based its computations on the state regulator’s gaming operation earnings and not on the entire income of the state-run corporation. The computation errors that PAGCOR made from 2011 to 2017 denied the government billions of funds, according to COA.