• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Thursday 11 September 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

PAGCOR remits US$81 million to National Treasury including 25% advance

Newsdesk by Newsdesk
Mon 25 Mar 2024 at 17:25
PAGCOR remits US$81 million to National Treasury including 25% advance
7
SHARES
172
VIEWS
Print Friendly, PDF & Email

Philippine gaming regulator PAGCOR said Monday it had remitted a total of Php4.59 billion (US$81.4 million) in cash dividends to the National Treasury to help fund the national government’s efforts towards ensuring the country’s sustained economic growth and development.

The remittance represents 75% of PAGCOR’s net income in 2023, the regulator said, and is higher than the usual 50% remittance as per a request from Finance Secretary Ralph Recto to PAGCOR to advance an additional 25% dividend to fund government expenditures.

PAGCOR Chairman and CEO Alejandro H. Tengco said the industry’s strong recovery in 2023 saw it book Php79.4 billion (US$1.41 billion) in gross revenues Php6.13 billion (US$109 million) in net earnings in 2023 as a dividend base, paving the way for a higher dividend rate declaration.

“Our remarkable income performance in 2023 set the stage for this higher dividend contribution to the national government, and this epitomizes not just financial success but our unwavering commitment to national development,” Tengco said.

The dividend declaration consists of Php3.06 billion (US$54.3 million) or 50% of PAGCOR’s 2023 net earnings plus an advanced 25% or Php1.53 billion (US$27.1 million) which may be applied to future dividend remittances, the agency explained.

The dividend check was received by Deputy National Treasurer Eduardo Anthony Mariño III during a ceremony at the new PAGCOR Executive Office in Pasay City.

“Every peso of this latest remittance from PAGCOR is directly translatable to additional expenditure which can help accelerate growth. This would certainly empower the national government in initiating transformative change this year,” Mariño said.

RelatedPosts

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

Wed 10 Sep 2025 at 22:22
MGTO now expecting new record daily average for visitor arrivals during current National Day Golden Week holidays

Citi: Macau GGR likely to exceed MOP$1 billion per day during October Golden Week, strong events calendar may provide lengthy tail

Wed 10 Sep 2025 at 14:34
Galaxy Macau named Asia’s Best Integrated Resort at 2025 IAG Academy IR Awards

Galaxy Macau named Asia’s Best Integrated Resort at 2025 IAG Academy IR Awards

Wed 10 Sep 2025 at 10:36
Alejandro Tengco recognizes legitimacy of PAGCOR Employees’ Association as impact of Casino Filipino privatization looms

Alejandro Tengco recognizes legitimacy of PAGCOR Employees’ Association as impact of Casino Filipino privatization looms

Wed 10 Sep 2025 at 06:18
Load More
Tags: GamingNational TreasuryPAGCORPhilippinesremittance
Share3Share
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Evolution Asia
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
NWR

Related Posts

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

VIDEO: IAG chats with StarDream Cruises President Michael G. Johansen

by Newsdesk
Wed 10 Sep 2025 at 22:22

Michael G. Johansen, President – Gaming Division of Genting’s StarDream Cruises, offers insights into the company’s cruise operations and how it approaches the customer experience.

MGTO now expecting new record daily average for visitor arrivals during current National Day Golden Week holidays

Citi: Macau GGR likely to exceed MOP$1 billion per day during October Golden Week, strong events calendar may provide lengthy tail

by Ben Blaschke
Wed 10 Sep 2025 at 14:34

Macau’s casino operators are tipped to average daily gaming revenues of MOP$1.05 billion (US$131 million) during the upcoming eight-day October Golden Week holiday, but strength could also be maintained well beyond Golden Week thanks to the city’s impressive events calendar,...

Galaxy Macau named Asia’s Best Integrated Resort at 2025 IAG Academy IR Awards

Galaxy Macau named Asia’s Best Integrated Resort at 2025 IAG Academy IR Awards

by Newsdesk
Wed 10 Sep 2025 at 10:36

Galaxy Macau has defended its title as Best Integrated Resort in Asia at the IAG Academy IR Awards on Tuesday night. The winners of the 23 award categories were announced at a lavish Gala Dinner held in the Manila Ballroom at Manila...

Jeju Shinhwa World rebrands Landing Casino as “LES A Casino”

by Newsdesk
Wed 10 Sep 2025 at 06:26

The former Landing Casino at Korea’s Jeju Shinhwa World has rebranded to “LES A Casino”, according to a company announcement. The property’s parent company, Hong Kong-listed Shin Hwa World Ltd, said it had been pushing for a rebranding since 2022...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English