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PAGCOR remits P256.38 to Philippine Sports Commission

Posted: Jan 20, 2023 13:05 Category: Asia , Regulatory , Posted by Maria Debrincat

PAGCOR hopes to contribute significantly to the training of national athletes for various international competitions and to the further development of Philippine sports.

The Philippine Amusement and Gaming Corporation (PAGCOR) transferred P256.38 million in remittances to the Philippine Sports Commission on January 19, 2023. This money will aid Filipino athletes preparing for the 32nd Southeast Asian Games (SEAG) in Cambodia in May who can now step up their preparation for the biennial event (PSC).

Alejandro Tengco, the Chairman and CEO of PAGCOR, spoke about the sum and said, “With the amount that we remitted, we hope to contribute significantly to the training of our national athletes for various international competitions and to the further development of Philippine sports. Our future remittances will be bigger as our operations are slowly easing back to normalcy.”

The money was given to the sports organisation on Thursday.

PSC Chairman Richard Bachmann expressed his deep gratitude to the government-run gaming company for their most recent payments to the PSC, noting that they would be especially helpful to the athletes who would be representing the nation in the Cambodia SEAG. He said “this is definitely a big help to us as there are already a lot of requests coming from the NSAs (National Sports Associations) for equipment that they need for the training of their athletes for the coming SEA Games.”

PAGCOR significantly contributed to the 30th SEAG’s successful staging in 2019 by giving P842.50 million to the PSC for the renovation of significant sports venues used for the Games. Within the storied Rizal Memorial Sports Complex in Malate, Manila, and the Philsports Complex Multipurpose Arena in Pasig City, respectively, were the Rizal Memorial Coliseum and Ninoy Aquino Stadium.

The government-run gaming company also donated money to the Philippine Southeast Asian Games Organizing Committee in support of staging the twice-yearly competition.

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