{"id":777017984,"date":"2024-08-08T09:47:51","date_gmt":"2024-08-08T12:47:51","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777017984"},"modified":"2026-04-22T07:22:10","modified_gmt":"2026-04-22T10:22:10","slug":"pagcor-to-fund-philippine-olympic-gold-medal-reward","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/pagcor-to-fund-philippine-olympic-gold-medal-reward","title":{"rendered":"PAGCOR to fund Philippine Olympic gold medal reward"},"content":{"rendered":"\n<p>Gymnast Carlos Yulo will receive PHP20m from PAGCOR.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>The Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) will award  PHP20m to <strong>Carlos Yulo<\/strong>, a Filippine gymnast who has won two gold medals at the 2024 Paris Olympics.<\/p>\n\n\n\n<p>Through the Republic Act (RA) 10699, also known as the National Athletes, Coaches, and Trainers Benefits and Incentives Act, Olympic gold medalists are entitled to PHP10m for each gold medal, with the funds drawn from PAGCOR&#8217;s National Sports Development Fund. Yulo&#8217;s coach and trainer, <strong>Allen Aldrin Casta\u00f1eda<\/strong>, will receive PHP5m per gold medal.<\/p>\n\n\n\n<p><strong>See also:<\/strong> <a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-provides-aid-for-typhoon-carina-victims\" rel=\"noreferrer noopener\">PAGCOR provides aid for Typhoon Carina victims<\/a><\/p>\n\n\n\n<p>PAGCOR\u00a0has reported that <a href=\"https:\/\/focusgn.com\/asia-pacific\/pagcor-expenses-reach-us266-6m-in-h1\" target=\"_blank\" rel=\"noreferrer noopener\">its expenses amounted to PHP15.64bn (US$266.6m) in the first half of the year<\/a>. The figure was up 26 per cent compared to last year (PHP12.3bn). The regulator said actual spending had surpassed its target expenses by 20 per cent.<\/p>\n\n\n\n<p>Personnel services expenses rose by 28 per cent to PHP7bn (US$119.3m). Maintenance and other operating expenses increased by 52.5 per cent to PHP5.3bn (US$90.4m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gymnast Carlos Yulo will receive PHP20m from PAGCOR.<\/p>\n","protected":false},"author":176,"featured_media":17179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"PAGCOR will award PHP20m to Filipino gymnast Carlos Yulo for his two Paris 2024 Olympic gold medals, as mandated by RA 10699, with his coach also receiving incentives. Concurrently, PAGCOR reported a 26% year-on-year increase in H1 expenses, reaching PHP15.64bn, surpassing its target by 20%, driven by significant rises in personnel and maintenance costs.","focusai_entities":"PAGCOR, Philippine Amusement and Gaming Corporation, Carlos Yulo, Allen Aldrin Casta\u00f1eda","focusai_location":"Philippines, Paris","focusai_target_profile":"ceo_executive (0.8), regulator (0.9), compliance_legal (0.7), operator_casino (0.8), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"PAGCOR H1 Expense Drivers?","query":"What specific operational or strategic shifts within PAGCOR contributed to the 26% year-on-year increase in H1 expenses, particularly the 52.5% rise in Maintenance and Other Operating Expenses?"},{"label":"Impact on Net Revenue?","query":"How will PAGCOR's increased operational expenditure impact its net revenue contribution to the national treasury, and are there any planned adjustments to its revenue generation or cost management frameworks?"}],"footnotes":""},"categories":[23876,16333],"tags":[405],"class_list":["post-777017984","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-social-news","category-south-east-asia-news","tag-pagcor"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017984","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=777017984"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017984\/revisions"}],"predecessor-version":[{"id":777017989,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777017984\/revisions\/777017989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17179"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777017984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777017984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777017984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}