Philippines gaming regulator PAGCOR has remitted Php256 million (US$4.7 million) to the Philippine Sports Commission (PSC) ahead of this year’s Southeast Asian Games (SEAG) in Cambodia.
The amount represents PAGCOR’s mandated contributions to the government sports body for the months of November and December 2022, with PAGCOR Chairman and CEO Alejandro Tengco stating the amount is expected to increase in future as gaming revenues across the Philippines continue to stabilize.
“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,” Tengco said.
PAGCOR said its support of local sports includes cash grants to athletes and coaches who win in international competitions under the National Athletes and Coaches Benefits and Incentives Act.
The agency donated Php842.5 million to the PSC for the 30th SEAG in 2019 which was used to upgrade major sports facilities utilized for the Games. These included the Rizal Memorial Coliseum and Ninoy Aquino Stadium inside the historic Rizal Memorial Sports Complex in Malate, Manila and the Philsports Complex Multipurpose Arena in Pasig City.
PAGCOR also made financial contribution to the Philippine Southeast Asian Games Organizing Committee for the hosting of the biennial meet, the agency added.
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