The Philippine Amusement and Gaming Corporation (PAGCOR) turned over P1.35bn ($US28.3m) to the National Treasury to combat government’s Covid-19 response.
The advance cash dividend helped the National Treasury raise its revenue to P3bn.
As per Gambling Insider, PAGCOR Chairman and CEO Andrea Domingo said: “After more than a year into the pandemic, PAGCOR is still doing its best to fulfil our mandate and commitment to nation-building.”
“We may be in a very challenging time, but we are all in this together. Because of PAGCOR’s prudent use of funds and continuous effort to generate revenues, we are able to help fund necessary government programs amidst the crisis.”
“With its remittances, the state-run gaming firm has been consistently included in the top three cash dividends contributors among other government-owned and controlled corporations,” a statement from the body read, as per Gambling Insider report.