PAGCOR approves financial grant for Casino Filipino host cities
The Philippine Amusement and Gaming Corporation (PAGCOR) has approved a P34.6m ($700,000) grant to cities and local government units that host a Casino Filipino branch.
The support comes as the Covid-19 pandemic “continues to take a toll on the local gaming industry’s revenue performance.” It aims to help some of PAGCOR’s host cities “cushion the impact of the pandemic” on the local economy.
“We resumed payment of the host cities’ share in January 2021, provided that the Casino Filipino branch is allowed to operate by host local government unit, and on the condition that said branch meets the minimum target or operates at break-even at least,” said PAGCOR Chairman and CEO Andrea Domingo.
“With the approved grant of P34.64 million, our host cities will be able to receive financial support that is almost equivalent to their host city share allocation under full operational capacity.”
The financial aid sent by PAGCOR to its host communities serves various purposes, including improving infrastructure, basic health services, peace and order, livelihood, emergency assistance to calamity victims, education programs, and anti-drug abuse campaigns.
From 2016 to 2020, the corporation has remitted over P1.93bn to cities throughout the country that host a Casino Filipino branch.
“PAGCOR is able to produce revenues that help boost community development projects by regulating gaming and preventing the proliferation of illegal gambling in the Philippines,” added Domingo.
“Through the share, many cities that host a Casino Filipino branch were able to fund sustainable programs, such as water filtering systems in their public schools or funding for disaster response initiatives.”
The grant follows a similar decision from PAGCOR earlier this week to release P50m for the construction of multi-purpose evacuation centres for two towns in Laguna.
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