PAGCOR Turns Over ₱12.67B in Dividends to Treasury, Surpassing Mandated Share

The Philippine Amusement and Gaming Corporation (PAGCOR) has remitted ₱12.67 billion in dividends to the national government, representing 75% of its 2024 net income, the agency announced on Wednesday.

This remittance is significantly higher than the 50% requirement under Republic Act No. 7656, also known as the Dividends Law. PAGCOR said that ₱8.45 billion of the amount covers the mandatory government share, while an additional ₱4.22 billion is an advance payment that may be credited against future obligations.

In 2024, PAGCOR earned a net income of ₱16.76 billion, a sharp 146% increase from ₱6.81 billion in 2023.

PAGCOR Chairman and CEO Alejandro Tengco said the move follows Finance Secretary Ralph Recto’s call for government-owned and controlled corporations (GOCCs) to remit an extra 25% to help support public spending.

Deputy National Treasurer Eduardo Mariño added that the contribution will boost funding for vital government programs in infrastructure, healthcare, education, and social services.

“This significant dividend remittance strengthens our fiscal position and helps advance the administration’s development goals,” Mariño said.