The Philippine Amusement and Gaming Corporation (Pagcor) remitted PHP3.27 billion (US$55.9 million) to the national government in May, marking a 26.1 percent increase from the PHP2.6 billion remitted in May last year. This data comes from the latest cash-operations report released by the Philippines’ Bureau of the Treasury.
For the first five months of this year, Pagcor’s total remittances to the national government reached PHP17.38 billion. This amount is 31.2 percent higher than the PHP13.25 billion remitted in the same period in 2023. Compared to the first five months of 2019, the tally increased by 23.3 percent from PHP14.10 billion.
According to the Philippines’ Republic Act (RA) No. 7656, known as the Dividends Law, government-owned and controlled corporations must remit at least 50 percent of their net earnings to the national government. Pagcor’s late March statement reaffirmed this commitment.
“We are committed to fulfilling our obligations and contributing significantly to the national treasury,” a Pagcor spokesperson said.
Pagcor, which regulates and licenses private-sector casinos, including large-scale resorts in Entertainment City, Manila, also operates some publicly-owned casinos under the ‘Casino Filipino’ brand, including an online casino. The organization has expressed a commitment to privatizing these publicly-owned casinos.
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