Calamity aid, assistance to schools and hospitals, and other ‘nation-building initiatives’ by the Philippine Amusement and Gaming Corp. (Pagcor) may face cuts due to a 2024 Supreme Court ruling that hiked the gaming regulator’s mandated contribution to the government’s sports body.
Pagcor chair and CEO Alejandro Tengco said its monthly contributions to the Philippine Sports Commission (PSC) is now at around P400 million, increasing from about P200 million, in accordance with a ruling by the high court which states Pagcor owes the sports body 5 percent of its gross income.
Pagcor appealed the ruling early this year but its motion was denied with finality.
This is apart from its P37-billion obligation to the PSC dating back to the 1990s, Tengco told a hearing by the House committee on appropriations, adding that Pagcor may need to remit an additional P300 million a month to settle its liability within 10 years.
‘This will affect our projects, our aid assistance because… instead of being poured for nation-building, it will have to be used to pay off the debt from the Supreme Court’s decision,’ Tengco said in Filipino