Pagcor sees contribution to healthcare shrinking anew

MANILA, Philippines — The Philippine Amusement and Gaming Corp. (PAGCOR) warned yesterday that its contribution to the Universal Healthcare  Care (UHC) system may be reduced again this year as its gaming revenues shrink due to the reimposition of strict lockdowns in Metro Manila and adjacent provinces.

PAGCOR chairman and CEO Andrea Domingo said revenues from casino and other gaming operations this year could reach only up to P17 billion, roughly half of the P30 billion made in 2020, if the strict mobility restrictions remain.

Last year’s earnings were already a steep reduction from P80 billion revenues in 2019 because of the onset of the pandemic.

Domingo noted that last year’s revenue intake was still supported by full operations of government-owned and regulated casinos and gaming establishments in the first three months of the year before lockdowns were enforced.

This year, however, the start of the year was already met with the prolonged community quarantine and the subsequent reimposition of the strictest quarantine tiers this month that closed down 26 of PAGCOR-owned casinos in the NCR Plus bubble and 540 e-bingo and e-games establishments.

“It means PAGCOR is losing a daily average of P15 million. This is how the pandemic is affecting us,” said Domingo during the Kapihan sa Manila Bay forum yesterday.

The UHC law mandates that half of the national government’s share from PAGCOR’s income, as well as 40 percent of the charity fund of the Philippine Charity Sweepstakes Office (PCSO) should fund the program.

With even less revenues this year, Domingo said its income remittance to the UHC will be reduced to only around P5 billion this year from a high of P18 billion last year.

“In 2021, I’m afraid it may only be P5 billion or even less and that makes us very sad because we have so many problems with COVID and if we continue in this trend, we might not be able to help at all,” said Domingo.