The regulator has remitted PHP8m to a non-government organisation catering to people with disabilities.<\/p>\n\n\n\n\n\n\n\n
The Philippines.-\u00a0The Philippine Amusement and Gaming Corp. (PAGCOR)<\/strong>\u00a0has remitted PHP8m to the Physicians for Peace Philippines Incorporated (PFPPI), a non-government organisation catering to people with disabilities.<\/p>\n\n\n\n The cash is\u00a0part of PAGCOR Cares<\/strong>, which also supports training and workshops, conferences, scholarships and the components in making prosthetics conducted by the Technical Education and Skills Development Authority (TESDA).<\/p>\n\n\n\n PFPPI Chairman Dr. Teodoro Herbosa\u00a0<\/strong>said PAGCOR’s donation will help the non-government organisation finance the training of scholars on a prosthetics-making course.<\/p>\n\n\n\n He said: “We partnered with the University of the East, and we put up the Philippine School of Prosthetics and Orthotics.\u00a0These are people who take a three-year course and learn how to make fine prostheses for amputees. We have had many scholars, and\u00a0this is the project now with PAGCOR that we have named PAGCOR Cares<\/strong>.”<\/p>\n\n\n\n In May,\u00a0the regulator<\/a>\u00a0remitted Php1.35bn (US$28.3m) to the National Treasury bringing the total remitted this year to Php3bn.<\/p>\n\n\n\n PAGOR<\/a>\u2018s revenue 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 Andrea Domingo<\/strong>, 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.<\/p>\n\n\n\n She also predicted PAGCOR\u2019s revenues could reach between PHP35bn (US$701.6m) <\/strong>to PHP38bn in 2021.<\/p>\n\n\n\n According to the Philippine Star, Domingo said: \u201cI 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.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" The regulator has remitted PHP8m to a non-government organisation catering to people with disabilities.<\/p>\n","protected":false},"author":176,"featured_media":21660,"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 PHP8m to Physicians for Peace Philippines Incorporated (PFPPI) for prosthetics training, as part of its 'PAGCOR Cares' CSR initiative. This occurs amidst a reported 60.4% revenue decline in 2020 due to the pandemic, with projections for recovery to pre-pandemic levels by late 2022, contingent on herd immunity and border reopening. PAGCOR also remitted PHP3bn to the National Treasury this year.","focusai_entities":"Philippine Amusement and Gaming Corp. (PAGCOR), Physicians for Peace Philippines Incorporated (PFPPI), Technical Education and Skills Development Authority (TESDA), University of the East, Philippine School of Prosthetics and Orthotics, Dr. Teodoro Herbosa, Andrea Domingo","focusai_location":"The Philippines","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR Revenue Diversification","query":"Given the significant GGR contraction in 2020, what specific strategic initiatives is PAGCOR implementing to diversify its revenue streams beyond traditional casino operations and mitigate future market volatility?"},{"label":"Regulatory Oversight Impact","query":"How will the projected return to pre-pandemic revenue levels by late 2022 impact PAGCOR's capacity for enhanced regulatory oversight, particularly concerning B2B\/B2C licensing and enforcement within the Philippine gaming verticals?"}],"footnotes":""},"categories":[157,16333],"tags":[405],"class_list":["post-22516","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22516","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=22516"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22516\/revisions"}],"predecessor-version":[{"id":22532,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22516\/revisions\/22532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21660"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}PAGCOR revenue to return to pre-pandemic levels by the end of 2022<\/h2>\n\n\n\n