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Asia

PAGCOR Remits $116.8M to Philippines National Treasury

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3 years ago

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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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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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