The Philippine Amusement and Gaming Corp.(Pagcor) remitted P2 billion to the Bureau of the Treasury (BTr) as additional advance cash dividends last Friday, the agency said in a statement over the weekend.
Pagcor said this increased the agency’s total cash dividend contributions to P5 billion.
Of the P5 billion cash dividend remittances, P4.17 billion represents the state-run gaming firm’s advance contributions that may be utilized for future cash dividend obligations.
The agency said its latest remittance was in response to the request of Finance Secretary Carlos Dominguez for Pagcor to remit P5 billion cash dividends in support of the government’s revenue generation effort.
Aside from this latest remittance, Pagcor released P1.345 billion on May 28 and P1.655 billion in cash dividends on May 12 to the BTr.
BTr deputy treasurer Ed Mariño said the latest cash dividend remittance from Pagcor will further supplement the government’s fund requirements especially with the forthcoming re-implementation of enhanced community quarantine (ECQ) status in the National Capital Region and other parts of the country, amid the threat of the coronavirus disease 2019 delta variant.
“This latest remittance from Pagcor could not have come at a better time. As always, we would like to thank Pagcor for always being cognizant of the government’s urgent need for emergency resources,” Mariño said.
In 2020, Pagcor remitted P18 billion to the BTr for the year 2019. (A. Celis)
