Pagcor grants for 30th SEA Games
(The Philippine Star) - December 14, 2019 - 12:00am

The Philippine Amusement and Gaming Corp. (PAGCOR) would like to clarify some important points relative to the financial support granted by the state-gaming agency for the 30th Southeast Asian Games (SEA Games) hosted by the Philippines.

It can be recalled that on June 26, 2019, PAGCOR turned over P842.5 million as a donation to the Philippine Sports Commission (PSC). It is important to note that this amount is a separate and distinct fund on top of the agency’s mandated remittance to PSC, which averages P124.27 million per month.

By virtue of RA no. 6847, PAGCOR, without fail, remits five percent of its revenues to the PSC to finance the country’s sports development programs.

Since the current management took over in 2016, PAGCOR has already remitted a total of P5.71 billion to the PSC.

Aside from the PSC share, PAGCOR also funds the Sports Benefits and Incentives Act, which provides monetary rewards to athletes and coaches who win in prestigious international sports competitions.

The P842.5 million donation last June was intended to help refurbish various sports structures in the country such as the Philsports Complex Multipurpose Arena, Rizal Memorial Track and Football Stadium and the Ninoy Aquino Stadium – which will be utilized for the regional multi-sports event.

It is our hope that with these mandated remittances and additional financial grants, PAGCOR will not only continue to be instrumental in upholding sports development in the country but also help in the successful staging of the 30th SEA games in the Philippines. – Philippine Amusement Gaming Corp.

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