{"id":18488,"date":"2021-05-31T14:38:40","date_gmt":"2021-05-31T14:38:40","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=18488"},"modified":"2026-04-23T19:02:30","modified_gmt":"2026-04-23T22:02:30","slug":"pagcor-remits-us28-3m-to-philippines-national-treasury","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-remits-us28-3m-to-philippines-national-treasury","title":{"rendered":"PAGCOR remits US$28.3m to Philippines National Treasury"},"content":{"rendered":"\n

The regulator has remitted Php1.35bn (US$28.3m) in cash dividends to help the government fight against the Covid-19 pandemic.<\/p>\n\n\n\n\n\n\n\n

The Philippines.-\u00a0The Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong>\u00a0has remitted Php1.35bn (US$28.3m) to the National Treasury bringing the total remitted this year to Php3bn.<\/p>\n\n\n\n

PAGOR<\/a>‘s\u00a0revenue for 2020 was\u00a0US$624m, down 60.4 per cent<\/strong>\u00a0year-on-year and the lowest for at least seven years. The\u00a0Covid-19 pandemic deeply affected casino revenues<\/strong>\u00a0due to\u00a0several lockdowns<\/a>.<\/p>\n\n\n\n

PAGCOR Chairman and CEO Andrea Domingo<\/strong> stated: “After more than a year into the pandemic, PAGCOR is still doing its best<\/strong> to fulfil our mandate and commitment to nation-building. <\/p>\n\n\n\n

“We may be in a very challenging time, but we are all in this together. Because of PAGCOR\u2019s prudent use of funds and continuous effort to generate revenues<\/strong>, can to help fund necessary government programs amidst the crisis.”<\/p>\n\n\n\n

A few weeks ago, the regulator<\/a> remitted Php1.6bn<\/strong> to the National Treasury. The sum corresponded to its entire net earnings from 2020<\/strong>.<\/p>\n\n\n\n

In order to increase revenue,\u00a0PAGCOR\u00a0has allowed three Integrated Resorts \u2013\u00a0Okada Manila Resort, Solaire Resort and Casino and Resorts World Manila<\/strong>\u2013 to offer online table games and slots.<\/p>\n\n\n\n

S&P Global Ratings expects the Philippines to see an economic rebound<\/strong><\/h2>\n\n\n\n

S&P Global Ratings<\/a>\u00a0has said it believes\u00a0the Philippine economy could rebound\u00a0<\/strong>once the Covid-19 pandemic is contained.<\/p>\n\n\n\n

S&P\u00a0has maintained<\/strong>\u00a0the Philippines’ \u201cBBB+\u201d rating<\/strong>, which means it has adequate capacity to meet its financial commitments. It said the Philippines BBB+ rating\u00a0will remain unchanged for half a year and could last up to two years<\/strong>.\u00a0<\/p>\n\n\n\n

The firm said: \u201cWe affirmed the ratings because\u00a0we believe the Philippines will continue to have good economic recovery<\/strong>\u00a0prospects once the Covid-19 pandemic is contained.”<\/p>\n","protected":false},"excerpt":{"rendered":"

The regulator has remitted Php1.35bn (US$28.3m) in cash dividends to help the government fight against the Covid-19 pandemic.<\/p>\n","protected":false},"author":176,"featured_media":17324,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Philippine Amusement and Gaming Corp. (PAGCOR) has remitted Php1.35bn to the National Treasury, contributing to Php3bn this year, to aid the government's COVID-19 response despite a 60.4% revenue decline in 2020. To mitigate this impact, PAGCOR has authorized Integrated Resorts to offer online table games and slots. S&P Global Ratings maintains the Philippines' \"BBB+\" rating, anticipating an economic rebound post-pandemic containment.","focusai_entities":"Philippine Amusement and Gaming Corp. (PAGCOR), National Treasury, Andrea Domingo, S&P Global Ratings, Okada Manila Resort, Solaire Resort and Casino, Resorts World Manila","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.8), operator_casino (0.9), product_ux (0.7), tech_data (0.7), marketing_crm (0.7), payments_fraud_aml (0.7), investor_analyst (0.9), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR Revenue Outlook?","query":"What is PAGCOR's projected GGR and NGR for 2021, considering the impact of online gaming authorization for Integrated Resorts and the ongoing pandemic?"},{"label":"Online Gaming Impact?","query":"How will the B2C online gaming authorization for Integrated Resorts affect the competitive landscape and market share distribution among licensed operators in the Philippines?"}],"footnotes":""},"categories":[157,158,16333],"tags":[405],"class_list":["post-18488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-slider-home","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=18488"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18488\/revisions"}],"predecessor-version":[{"id":18506,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/18488\/revisions\/18506"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17324"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=18488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=18488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=18488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}