PAGCOR remits over P250 million to PSC


THE Philippine Amusement and Gaming Corp. (PAGCOR) recently turned over a check worth P256.38 million in remittances to the Philippine Sports Commission (PSC) for the training of athletes bound for the Cambodia 32nd Southeast Asian Games (SEAG) in May.

The amount represents PAGCOR’s mandated contributions to the PSC for the months of November (P124.45 million) and December (P131.93 million) last year.

PAGCOR Chairman and CEO Alejandro Tengco personally handed the state-run gaming firm’s remittances to newly-appointed PSC Chairman Richard Bachmann in a simple turnover ceremony at the PAGCOR Executive Office in Malate, Manila.

“With the amount that we remitted, we hope to contribute significantly to the training of our national athletes for various international competitions and to the further development of Philippine sports,” Tengco said. “Our future remittances will be bigger as our operations are slowly easing back to normalcy.”

Bachmann, on the other hand, thanked PAGCOR for its latest remittances to the PSC, saying they would be very beneficial especially to the players representing the country in the Cambodia SEAG set from May 5 to 17.

“This is definitely a big help to us as there are already a lot of requests coming from the NSAs [National Sports Associations] for equipment that they need for the training of their athletes for the coming SEA Games,” Bachmann said.

Besides remitting its mandated shares to PSC, PAGCOR also hands cash grants to athletes and coaches who win in international competitions under the National Athletes and Coaches Benefits and Incentives Act.

The agency played a vital role in the successful staging of the 30th SEAG in 2019 by donating P842.50 million to the PSC for the rehabilitation of major sports facilities utilized for the Games.

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