Asia
PAGCOR Remits $116.8M to Philippines National Treasury
The Philippine Amusement and Gaming Corp (PAGCOR) has remitted PHP6bn ($116.8m) to the country’s treasury for 2021. PAGCOR’s most recent transfer included PHP1.04bn in dividends for 2021 and PHP4.95bn in additional/advance cash dividends.
The regulator has, therefore, maintained its status as one of the government-owned and controlled corporations (GOCCs) to remit cash dividends of at least PHP1bn to the government. The agency had remitted PHP5bn in cash dividends and advances for 2020, while cash dividends were PHP18bn for 2019 (US$374m) and PHP16.17bn for 2018.
Andrea Domingo, PAGCOR chairman and CEO, said: “We are now gaining momentum towards economic recovery as all businesses, including the gaming industry, are now on a fully operational level and revenues start pouring in once again.
“This enables us to fulfil our financial obligations with the government and to remain committed as one of its major partners in nation-building.”
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