State-run Philippine Amusement and Gaming Corp. (PAGCOR) turned over a total of P12.67 billion in dividends to the National Treasury, reinforcing its commitment to nation-building by providing funds for government priority programs.
The state gaming regulator said the latest remittance represents 75 percent of PAGCOR’s net income for 2024, higher than the 50 percent required under Republic Act No. 7656, or the Dividends Law.
PAGCOR chairman and chief executive Alejandro Tengco said the higher remittance aligned with Finance Secretary Ralph Recto’s directive for government-owned and controlled corporations (GOCCs) to advance an additional 25 percent dividend to support government spending.
Tengco handed over the dividend check to Deputy National Treasurer Eduardo Anthony Mariño at PAGCOR’s corporate office in Pasay City.
He said of the total amount, P8.45 billion represents the mandatory 50 percent government share of PAGCOR’s net income, while the remaining P4.22 billion is an advance that can be applied to future obligations.
Mariño said PAGCOR’s contribution would bolster the government’s ability to fund crucial programs in infrastructure, healthcare, education and social services.
“This substantial dividend contribution will go a long way in boosting our fiscal resources and furthering the administration’s development agenda,” Mariño said.
