The Philippine Amusement and Gaming Corporation (PAGCOR) remitted PHP3.27 billion to the national government in May 2024. This marked a significant 26.1 percent increase from the nearly PHP2.6 billion remitted in May of the previous year.
According to the Bureau of the Treasury’s latest cash operations report, PAGCOR’s May contribution pushed its total remittance for the first five months of 2024 to PHP17.38 billion. This figure reflected a strong 31.2 percent surge compared to the PHP13.25 billion the agency sent to the government during the same period in 2023.
Moreover, the current five-month total surpassed pre-pandemic levels. It rose by 23.3 percent from the PHP14.10 billion that PAGCOR remitted during the first five months of 2019. That year marked the last full period of regular activity before the disruptions caused by COVID-19.
PAGCOR, which serves as the Philippines’ gaming regulator, actively oversees and licenses private-sector casinos. These include large integrated resorts operating within Manila’s Entertainment City.
At the same time, PAGCOR operates publicly-owned casinos under the Casino Filipino brand. In line with its modernization efforts, the agency recently reaffirmed its plan to privatize these government-run establishments.
In addition, Republic Act No. 7656—known as the Dividends Law—requires all government-owned and controlled corporations to remit at least 50 percent of their net earnings to the national government. PAGCOR reiterated this legal responsibility in a statement released in late March.
Furthermore, the continued growth of online gaming in the local market has contributed to rising revenues. PAGCOR noted that properly regulated digital platforms can significantly help boost the national economy.
By expanding its oversight and optimizing income from both land-based and online gaming operations, PAGCOR has strengthened its role in supporting public programs. Its solid financial performance throughout early 2024 highlights its growing contribution to national development.
