PAGCOR helps build evacuation centres in Bicol and Quezon
The regulator has remitted PHP150m to six towns and cities in the Bicol region and Quezon province for the construction of Multi-Purpose Evacuation Centres (MPEC).
The Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) has remitted PHP150m to six towns and cities in the Bicol region and Quezon province to help them build Multi-Purpose Evacuation Centres. Andrea Domingo, PAGCOR chairman, released PHP25m each to the provincial government of Camarines Norte as well as the municipal government of Santa Elena, Camarines Norte.
The amount represents the first tranche of funding for the construction of two-storey MPECs in the towns of Labo and Santa Elena. Each MPEC has funding of PHP50m.
Domingo stated: “The MPEC project, being one of our flagship CSR programs, has always been designed to help provide long term solutions to our countrymen who live in vulnerable communities.
“While PAGCOR has always been providing relief aid to calamity-stricken communities, we give equal importance to their safety by helping LGUs build typhoon-resilient structures.”
PAGCOR has released a total of PHP1.2bn to start the construction of 55 MPECs since the project began last year. In September, it PAGCOR remitted PHP25m to the municipalities of Louisiana and Victoria. Louisiana and Victoria are classified as fourth-class towns, with a population of more than 70,000. Evacuating people in emergencies and extreme weather conditions poses a huge challenge for disaster relief services.
PAGCOR posts US$2.1m in net income for Q3
PAGCOR reported that net income for the third quarter of the year was PHP104.9m (US$2.1m). Gross income from gaming operations reached PHP7.05bn, making an aggregate of PHP22.28bn in the first nine months of the current year. PAGCOR paid out a total of PHP3.94bn in gaming taxes and contributions during the third quarter.
In July, PAGCOR said gaming income for the first half fell by 20 per cent year-on-year to PHP14.7bn (US$293.1m). During the first six months, the regulator made a profit of PHP79m.
