The Philippine Amusement and Gaming Corporation (PAGCOR) remitted Php12.67 billion (US$227.2 million) in dividends to the National Treasury.
The remittance, which represents 75% of PAGCOR’s net income for 2024, surpasses the 50% requirement under Republic Act No. 7656, or the Dividends Law.
“Our 75% dividends remittance is in line with Finance Secretary Ralph Recto’s directive to government-owned and controlled corporations (GOCCs) to advance an additional 25% dividend to support government spending,” said PAGCOR Chairman and CEO Alejandro H. Tengco in a statement.
Tengco handed over the check to Deputy National Treasurer Eduardo Anthony Mariño, who lauded the state gaming agency’s contribution.
Of the total, Php8.45 billion (US$155.5 million) covers the mandated 50% share, while Php4.22 billion (US$75.7 million) is the 25% advance, which may be offset against future obligations.
Mariño said the remittance will help fund key programs in infrastructure, healthcare, education, and social services. “This substantial dividend contribution will go a long way in boosting our fiscal resources and furthering the administration’s development agenda.”
The remittance follows PAGCOR’s strong performance in the first quarter of 2025, where it posted PHP28.07 billion (US$503.8 million) in total revenues—an 11.2% increase from the same period last year, as per SiGMA report.
Gaming operations contributed PHP25.52 billion (US$ 458.4 million), with electronic gaming accounting for PHP14.32 billion (US$257.4 million), or 56% of total gaming income. Net income rose 23% to PHP4.22 billion (US$75.7 million), while operating costs dropped 15.54% to PHP6.21 billion (US$111.6 million).
In the same quarter, PAGCOR contributed PHP18.9 billion (US$339.8 million) to nation-building, up 21.5%. This covered National Treasury remittances, sports programs, and support for LGUs hosting Casino Filipino branches.
The agency also retained its ISO certification after a December 2024 audit by DQS Certification Philippines, which cited improvements in internal controls, customer feedback systems, and compliance training.
Original article: https://www.yogonet.com/international/news/2025/05/15/104859-pagcor-remits-2272-million-in-dividends-to-national-treasury
