PAGCOR gives PHP8m to NGO for people with disabilities
The regulator has remitted PHP8m to a non-government organisation catering to people with disabilities.
The Philippines.- The Philippine Amusement and Gaming Corp. (PAGCOR) has remitted PHP8m to the Physicians for Peace Philippines Incorporated (PFPPI), a non-government organisation catering to people with disabilities.
The cash is part of PAGCOR Cares, which also supports training and workshops, conferences, scholarships and the components in making prosthetics conducted by the Technical Education and Skills Development Authority (TESDA).
PFPPI Chairman Dr. Teodoro Herbosa said PAGCOR’s donation will help the non-government organisation finance the training of scholars on a prosthetics-making course.
He said: “We partnered with the University of the East, and we put up the Philippine School of Prosthetics and Orthotics. These are people who take a three-year course and learn how to make fine prostheses for amputees. We have had many scholars, and this is the project now with PAGCOR that we have named PAGCOR Cares.”
In May, the regulator remitted Php1.35bn (US$28.3m) to the National Treasury bringing the total remitted this year to Php3bn.
PAGOR‘s revenue for 2020 was US$624m, down 60.4 per cent year-on-year and the lowest for at least seven years. The Covid-19 pandemic deeply affected casino revenues due to several lockdowns.
PAGCOR revenue to return to pre-pandemic levels by the end of 2022
Andrea Domingo, PAGCOR chairman, has said the casino industry in the Philippines could return to pre-pandemic levels by the end of next year if the country achieves herd immunity and borders restrictions are lifted.
She also predicted PAGCOR’s revenues could reach between PHP35bn (US$701.6m) to PHP38bn in 2021.
According to the Philippine Star, Domingo said: “I think we should be able to start recovering by September, but I do not know how fast because the world economy is really down. And you know when you are down, you do not spend money on entertainment and amusement as much as you would during good times.”
