Operator News

Philippines – PAGCOR’s remittances up 9.3 per cent after ‘banner’ year

By Phil - 16 November 2023

PAGCOR, the Philippines gaming regulator and casino operator, has heralded a ‘banner season’ with its cash remittances to the National Treasury for 2022 reaching US$125m after it recently handed over an extra US$90m.

Its total remittances for the year stand at Php6.95bn, 9.3 per cent higher than last year.

PAGCOR Chairman and CEO, Alejandro H. Tengco said: “Last year was a banner season for us in terms of revenue generation, and this enabled us to set aside additional funds to support various national government initiatives.”

Deputy Treasurer Eduardo Anthony G. Mariño added: “The latest cash dividend remittance from PAGCOR could not have come at a better time. The national government, particularly the Department of Finance, is really working towards ensuring the physical stability of the state after the pandemic, and having additional funds would certainly aid in that effort.”