an earlier contribution of PHP1.95bn<\/a>.\u00a0<\/p>\n\n\n\nThe cumulative remittance for the year now stands at PHP6.95bn (US$127.5m), marking a 9.32 per cent increase from declared dividends in 2021.<\/p>\n\n\n\n
PAGCOR’s chairman and CEO,\u00a0Alejandro H. Tengco<\/strong>, said: “Last year was a banner season for us in terms of revenue generation, and this enabled us to set aside additional funds to support various national government initiatives.”<\/p>\n\n\n\nDeputy treasurer\u00a0Eduardo Anthony G. Mari\u00f1o<\/strong>\u00a0added: \u201cThe latest cash dividend remittance from PAGCOR could not have come at a better time. The national government, particularly the Department of Finance, is really working towards ensuring the physical stability of the state after the pandemic, and having additional funds would certainly aid in that effort.”<\/p>\n\n\n\nThe remittance adheres to Republic Act No. 7656, the Dividends Law, mandating government-owned and controlled corporations (GOCCs) to remit at least 50 per cent of their net earnings to the national government. <\/p>\n","protected":false},"excerpt":{"rendered":"
The regulator has upped its fiscal contributions.<\/p>\n","protected":false},"author":176,"featured_media":777008355,"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 Corporation (PAGCOR) has remitted an additional PHP5bn (US$92.8m) to the National Treasury, bringing its cumulative contribution to PHP6.95bn (US$127.5m) for the year, a 9.32% increase from 2021. This significant remittance, driven by strong revenue generation, supports national government initiatives and adheres to Republic Act No. 7656, the Dividends Law.","focusai_entities":"Philippine Amusement and Gaming Corporation (PAGCOR), National Treasury, Alejandro H. Tengco, Eduardo Anthony G. Mari\u00f1o, Department of Finance","focusai_location":"Philippines","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.8), operator_casino (0.7), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR GGR Outlook?","query":"What is PAGCOR's projected Gross Gaming Revenue (GGR) for the next fiscal year, considering this robust performance and its impact on future remittances?"},{"label":"Fiscal Strategy Impact?","query":"How will this increased remittance from PAGCOR specifically influence the Department of Finance's fiscal strategy for post-pandemic economic recovery and infrastructure development?"}],"footnotes":""},"categories":[157,16333],"tags":[405],"class_list":["post-777011178","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\/777011178","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=777011178"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011178\/revisions"}],"predecessor-version":[{"id":777040949,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777011178\/revisions\/777040949"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777008355"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777011178"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777011178"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777011178"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}