The Philippine Amusement and Gaming Corporation (PAGCOR) recently announced that it has contributed a total of Php5 billion in dividends to the national treasury. This is the highest amount of dividends ever paid by the state-owned gaming and entertainment company in its history.

PAGCOR is a government-owned and controlled corporation that is mandated to generate funds for the government through the regulation of gaming and entertainment activities. It operates casinos, bingo halls, sports betting, and other gaming activities in the country. It also provides financial assistance to local governments for the development of tourism-related projects.

The Php5 billion dividend payment is part of PAGCOR’s commitment to help the government raise funds for its various programs and projects. It is also a testament to the company’s success in its operations. The amount is equivalent to 10 percent of its total income for the year, which is higher than the 5 percent mandated by law.

PAGCOR Chairman and CEO Andrea Domingo expressed her gratitude to President Rodrigo Duterte for his support and guidance in making the dividend payment possible. She also thanked the members of the Board of Directors for their hard work and dedication in ensuring that PAGCOR remains a reliable source of funds for the government.

The Php5 billion dividend payment is expected to help the government fund its various programs and projects, such as infrastructure development, health care, education, and social welfare. It is also expected to boost economic growth and create more jobs in the country.

Overall, PAGCOR’s contribution of Php5 billion in dividends to the national treasury is a major milestone for the company. It is a testament to its success in its operations and its commitment to help the government raise funds for its various programs and projects.