PAGCOR remits PHP2bn to Philippines National Treasury
The regulator has remitted PHP2bn in cash dividends, increasing total cash dividend contributions to PHP5bn.
The Philippines.- The Philippine Amusement and Gaming Corp. (PAGCOR) has remitted PHP2bn to the National Treasury this week.
PAGCOR previously released PHP1.35bn (US$28.3m) on May 28 and PHP1.6bn on May 12, 2021.
Andrea Domingo, PAGCOR Chairman and CEO, stated: “As the global health crisis drags on, our government needs more resources to help mitigate the pandemic’s impact.
“Our prudent use of our funds enables us to continuously aid the government in its effort to create measures that will help the country survive this very challenging time.”
Cash dividends for the year 2019 were PHP18bn ($374m) while for 2018, PAGCOR remitted PHP16.17bn.
PAGCOR’s income from gaming operations down 20 per cent in H1
PAGCOR revealed that gaming income for the first half fell by 20 per cent year-on-year to PHP14.7bn (US$293.1m). In the first six months, the regulator made a profit of PHP79m.
It previously reported that gaming revenue fell by 51.4 per cent year-on-year to PHP8.36bn (US$172.8m) in the first quarter of 2021, compared to nearly PHP17.22bn (US$339.8m) in the first quarter of 2020. Net income reached PHP152.6m (US$3.2m), down 80 per cent from Php777.4m (US$15.3m).
