PAGCOR remits almost $230 million to Philippine National Treasury
The Philippine Amusement and Gaming Corporation (PAGCOR) has remitted PHP12.67 billion (USD 227.2 million) in dividends to the National Treasury, representing 75 percent of its net income for 2024, well above the 50 percent minimum required under Republic Act No. 7656.
“Our 75 percent dividends remittance is in line with Finance Secretary Ralph Recto’s directive to government-owned and controlled corporations (GOCCs) to advance an additional 25 percent dividend to support government spending,” Alejandro Tengco, PAGCOR Chairman and CEO, said. The turnover ceremony was held on Wednesday, 14 May, at PAGCOR’s corporate office in Pasay City.
Of the PHP12.67 billion (USD 227.2 million), PHP8.45 billion (USD 155.5 million) corresponds to the mandatory dividend, while the remaining PHP4.22 billion (USD 75.7 million) is an advance payment that may be credited towards future obligations.
Treasury welcomes added resources
The dividend cheque was received by Deputy National Treasurer Eduardo Anthony Mariño, who acknowledged the timely support PAGCOR provides to the government’s fiscal goals.
“This substantial dividend contribution will go a long way in boosting our fiscal resources and furthering the administration’s development agenda,” Mariño said. He noted that the funds will assist in financing infrastructure, healthcare, education, and other social services.
Strong Q1 revenues recorded
The remittance to the Philippine government follows PAGCOR’s performance in the first quarter of 2025 when it reported PHP28.07 billion (USD 503.8 million) in total revenues – an 11.2 percent increase year-on-year. Gaming operations contributed PHP25.52 billion (USD 458.4 million), with the electronic gaming sector accounting for the majority at PHP14.32 billion (USD 257.4 million) or 56 percent of total gaming income.
PAGCOR’s net income for the first quarter reached PHP4.22 billion (USD 75.7 million), marking a 23% increase from the same period last year. Operating expenses were reduced by 15.54%, from PHP7.36 billion (USD 132.3 million) to PHP6.21 billion (USD 111.6 million), helping to improve overall profitability.
Commitment to public benefit
Tengco earlier reaffirmed PAGCOR’s dedication to using its earnings for the public good. In Q1 2025 alone, contributions to nation-building rose to PHP18.9 billion (USD 339.8 million), a 21.5 percent increase compared to the same period last year. These contributions include remittances to the National Treasury, support for sports development, and allocations to local government units hosting Casino Filipino branches.
The agency’s recent performance comes after it retained its ISO certification, which DQS Certification Philippines, Inc awarded. The audit, conducted in December 2024, cited improvements in internal controls, customer feedback mechanisms, and compliance training. As PAGCOR continues to build on its financial and operational reforms, the agency is poised to maintain its role as a key contributor to the country’s development efforts.
