PAGCOR contribution to PSC continues

MANILA, Philippines — The Philippine Amusement and Gaming Corp. said it has turned over to the Philippine Sports Commission its monthly allocation for February and March, ensuring there will be money for all national athletes and coaches amid the COVID-19 pandemic.

The PAGCOR statement came a few days after the PSC stated that the money it intended for the implementation of the government’s Social Amelioration Program or SAP for members of the Philippine team will come from its remaining funds after PAGCOR placed its monthly allocation on hold.

“The PAGCOR wishes to clarify that it just remitted P150.75 million to PSC on March 31, 2020,” it said in a press statement. “This amount represents the state-gaming agency’s mandated contribution to PSC for the month of February 2020.

“Likewise, PAGCOR has already released P99.42 million for its mandated contributions to PSC for the month of March. PSC, however, has not yet claimed the check,” it added.

Overall, PAGCOR had coughed up P409.01 million to the government sports agency in the first quarter of 2020 alone.

Understandably, PAGCOR said the amount decreased by 4.7 percent this year due to lower revenues caused by the suspension of all gaming operations in the country because of the pandemic.