The Philippine Amusement and Gaming Corporation (Pagcor) has remitted a substantial dividend to the national treasury, marking a significant contribution to government funds. The state-run gambling regulator announced that its dividend payment for the fiscal year surpassed previous records, reflecting robust earnings from casino operations and other gaming activities.
"This dividend underscores Pagcor's commitment to supporting the government's programs, especially in infrastructure and social services," said a Pagcor official.
The remittance comes amid ongoing reforms in the country's gaming industry, including measures to curb illegal gambling and enhance regulatory oversight. Pagcor's financial performance has been buoyed by the recovery of tourism and the resumption of full operations at Entertainment City and other integrated resorts.
Analysts note that Pagcor's dividend is a key revenue source for the government, which relies on such non-tax incomes to fund development projects. The agency is mandated to remit at least 50% of its net earnings to the national coffers annually.