PAGCOR recognised for contribution to Philippine Treasury
The Philippines’ Department of Finance (DOF) has recognised the Philippine Amusement and Gaming Corporation (PAGCOR) for remitting PHP12.7 billion ($218.9 million) in dividends to the National Treasury in 2024. The gaming regulatory body received a Certificate of Recognition during the 2025 Government-Owned or –Controlled Corporations’ (GOCCs) Day held at Malacañang Palace on 16 September.
According to the DOF, PAGCOR had the third-highest remittance among GOCCs for 2024, following the Land Bank of the Philippines with PHP33.5 billion ($577.4 million) and the Bangko Sentral ng Pilipinas (BSP), the country’s central bank, with PHP18.9 billion ($325.8 million).
Of PAGCOR’s total remittance, PHP8.45 billion ($145.7 million) represented the mandatory 50 percent government share of its net income, while PHP4.22 billion ($72.7 million) represented a 25 percent advance that may be applied to future obligations.
Compliance with the Dividends Law
Under Republic Act No. 7656, or the Dividends Law, GOCCs are required to remit at least 50 percent of their net earnings from the previous year as dividends to the national government. The DOF, however, has encouraged GOCCs to increase their contributions by an additional 25 percent to strengthen non-tax revenues.
The DOF said this call for higher remittances aims to enhance fiscal resources and support government spending priorities.
PAGCOR affirms commitment to nation-building
PAGCOR Chairman and CEO Alejandro Tengco said the DOF’s recognition affirms the corporation’s continued dedication to public service and fiscal responsibility.
“This award is a meaningful affirmation of PAGCOR’s steadfast commitment to nation-building and fiscal responsibility,” Tengco said. “Each peso we generate and remit to the National Treasury reflects the dedication of our workforce and the trust placed in us by the Filipino people.”
“As a GOCC, we take pride in being a reliable partner of the Department of Finance in strengthening our country’s fiscal position and supporting programs that uplift lives and sustain growth,” Tengco stated.
The PAGCOR chief said that the agency’s remittance underscores its role as a consistent revenue generator and a partner of the government in advancing national development programmes.
DOF commends GOCCs for exceeding expectations
Finance Secretary Ralph Recto commended PAGCOR and other GOCCs for their cooperation and performance in fulfilling their dividend obligations. “Because of your cooperation, the government continues to improve public services without asking ordinary Filipinos to carry the burden of new taxes,” Recto said.
“When we set a higher bar for dividend remittances, you have not only responded, but many of you have even exceeded expectations. And you did so not merely because the law required you to, but because you remain true to the very reason you exist: to serve the Filipino people,” he added.
Recto said the cooperation of state-run firms like PAGCOR plays a vital role in helping the government fund essential programmes in infrastructure, healthcare, and education without imposing additional tax burdens on the public.
Continued fiscal support through gaming revenues
PAGCOR earlier said that its contribution to the Philippine National Treasury forms part of its broader effort to use gaming revenues for public benefit. The regulatory body added that it channels its earnings to support nation-building initiatives, including remittances to the Treasury, funding for sports development, and allocations for local government units hosting Casino Filipino branches.
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