{"id":28843,"date":"2022-04-11T06:39:52","date_gmt":"2022-04-11T09:39:52","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28843"},"modified":"2026-04-23T09:44:49","modified_gmt":"2026-04-23T12:44:49","slug":"pagcor-remits-us116-8m-to-philippines-national-treasury","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-remits-us116-8m-to-philippines-national-treasury","title":{"rendered":"PAGCOR remits US$116.8m to Philippines National Treasury"},"content":{"rendered":"\n

The regulator has remitted over PHP6bn in cash dividends, bringing its total remittances for dividend years 2016 to 2021 to PHP48.94bn.<\/p>\n\n\n\n\n\n\n\n

The Philippines.- The Philippine Amusement and Gaming Corp (PAGCOR) has remitted PHP6bn (US$116.8m) to the country\u2019s treasury for 2021. PAGCOR’s most recent transfer included PHP1.04bn in dividends for 2021<\/strong>\u00a0and PHP4.95bn in additional\/advance cash dividends (which can be included in future dividend obligations).\u00a0<\/p>\n\n\n\n

The regulator has therefore maintained its status as one of the government-owned and controlled corporations (GOCCs) to remit cash dividends of at least PHP1bn to the government. The agency had remitted PHP5bn<\/a>\u00a0in cash dividends and advances for 2020, while cash dividends were PHP18bn for 2019<\/strong> (US$374m)\u00a0<\/strong>and PHP16.17bn for 2018.<\/p>\n\n\n\n

Andrea Domingo<\/strong>, PAGCOR chairman and CEO, stated: \u201cWe are now gaining momentum towards economic recovery as all businesses, including the gaming industry, are now on a fully operational level and revenues start pouring in once again.\u00a0<\/p>\n\n\n\n

“This enables us to fulfil our financial obligations with the government and to remain committed as one of its major partners in nation-building.”<\/p>\n\n\n\n

Philippines GGR up 21.7% for Q4<\/h2>\n\n\n\n

PAGCOR has reported that gaming revenue grew by 21.7 per cent quarter-on-quarter to\u00a0PHP28.54bn<\/strong>\u00a0(US$555.2m) for the fourth quarter of 2021. It reported full-year gross gambling revenue of PHP96.54bn, up 12.4 per cent year-on-year.<\/p>\n\n\n\n

Revenue from casinos located in Entertainment City<\/strong> in Metro Manila was PHP23.81bn, up 23 per cent quarter-on-quarter. It represented 83.4 per cent of all industry GGR. Casinos located in the Clark Freeport Zone generated nearly PHP2.30bn GGR while PAGCOR-operated casino revenue was PHP2.22bn, up 32.1. per cent when compared to the previous quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

The regulator has remitted over PHP6bn in cash dividends, bringing its total remittances for dividend years 2016 to 2021 to PHP48.94bn.<\/p>\n","protected":false},"author":176,"featured_media":25155,"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) remitted PHP6bn in cash dividends to the national treasury for 2021, contributing to a total of PHP48.94bn since 2016. Concurrently, PAGCOR reported a 21.7% QoQ increase in Q4 2021 GGR to PHP28.54bn, with full-year GGR reaching PHP96.54bn, signaling robust sector recovery.","focusai_entities":"Philippine Amusement and Gaming Corp, PAGCOR, Andrea Domingo","focusai_location":"Philippines, Metro Manila, Entertainment City, Clark Freeport Zone","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"PAGCOR's Future Remittances?","query":"Given the significant advance dividends, what is PAGCOR's projected dividend remittance schedule and its impact on future government revenue streams?"},{"label":"GGR Growth Sustainability?","query":"What specific market drivers and regulatory adjustments are sustaining the reported GGR growth, and what are the forecasts for 2022 and beyond, particularly for Entertainment City?"}],"footnotes":""},"categories":[157,158,16333],"tags":[405],"class_list":["post-28843","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\/28843","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=28843"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28843\/revisions"}],"predecessor-version":[{"id":28880,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28843\/revisions\/28880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25155"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}