March 25, 2020

PAGCOR Releases Additional Funds to aid National Efforts On Covid-19 Crisi

PAGCOR Releases Additional Funds to aid National Efforts On Covid-19 Crisi

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The Philippine Amusement and Gaming Corporation (PAGCOR) recently provided an additional Php 6 billion in funds to help the government with its efforts related to the novel coronavirus (Covid-19) pandemic.

The funds have been allocated to the Socio-Civic Project Fund (SCPF) of the Office of the President. This bring the total funding coming from PAGCOR to Php 8.5 billion, after it also allocated Php 2 billion in funding and Php 500 million in tranches earlier this month.

According to PAGCOR chairman and chief executive Andrea Domingo, the remittances are as stated in Section 7 (a) of Presidential Decree No. 1869 or the PAGCOR Charter, which authorizes both the issuance and distribution of PAGCOR earnings for infrastructure and socio-civic projects.

“PAGCOR’s recent remittances to the government are intended for the various funding requirements relative to Proclamation No. 922 Declaring a State of Public Health Emergency throughout the Philippines due to coronavirus disease and the subsequent declaration of Enhanced Community Quarantine over the Entire Luzon,” Domingo explained.

In addition to PAGCOR’s total remittances amounting to Php 8.5 billion, the agency also released its cash dividends amounting to Php 12 billion to the National Treasury on March 23.

Entertainment City licensees also donated over Php 200 million while the offshore gaming operators released Php 150 million for essential supplies such as personal protective equipment, medical supplies, and food.

Continuous Support

Deputy executive secretary for finance and admin at the Office of the President, Rizalina Justol, expressed gratitude, saying: “We are grateful to PAGCOR for its continued support to the Office of the President. The hefty remittances we get from the agency are being used for the high-impact projects that will benefit a lot of Filipinos.”

PAGCOR announced earlier this month that it would be suspending all gaming operations across the country due to the coronavirus outbreak.

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