FOLLOWING the country’s best finish yet in the Tokyo 2020 Olympic Games, the Philippine Amusement and Gaming Corporation (PAGCOR) takes pride in its long-standing support to sports development in the country.

Being one of the main funding sources of the Philippine Sports Commission (PSC), PAGCOR remits a substantial portion of its revenues to the government sports agency to finance the country’s sports development programs and fuel the training of national athletes in their participation to international sports competitions.

From 2016 up to June 2021 alone, the state-run gaming firm remitted a total of P7.37 billion to the PSC. Of this amount, P7.10 billion comprised the PSC share by virtue of Republic Act (RA) 6847.

Meanwhile, P276.23 million was awarded to athlete medalists by virtue of RA 10699, otherwise known as the National Athletes and Coaches Benefits and Incentives Act, which mandates PAGCOR to grant cash incentives to gold, silver and bronze medal winners and their coaches/trainers in major international sports competitions.

PAGCOR Chairman and CEO Andrea Domingo said the agency believes in the talent, determination and grit of Filipino athletes. Hence, despite the challenges in revenue generation due to the ongoing pandemic, PAGCOR does its best to fulfill its commitment to its mandated beneficiaries, including the PSC.

“We salute all Filipino sports heroes who are deeply driven by their desire to win and bring honor to the country. Their sacrifices and patriotism inspire us not only to stay committed to our duties but to also to continuously improve our performance and go the extra mile for our country,” she cited.

Prior to the pandemic, PAGCOR’s remittances to the PSC averaged to P124.27 million per month.

Domingo added that on top of its mandated contributions to the PSC, PAGCOR also released more than P1 billion financial support for the country’s hosting of the 30th Southeast Asian Games (SEAG) in December 2019.

Alongside the country’s SEAG hosting, the agency contributed P842.5 million to refurbish key sports structures like the Rizal Memorial Coliseum (RMC) and Ninoy Aquino Stadium (NAS) inside the historic Rizal Memorial Sports Complex (RMSC) in Malate, Manila and the Philsports Complex Multipurpose Arena (PCMA) in Pasig City.

In 2020, despite the sharp decline in its revenues following the strict community quarantine restrictions and temporary closure of gaming operations, PAGCOR was able to remit a total of P712.38 million to the PSC.

Further, in the first half of 2021, the state-run gaming firm has already contributed P354.04 million to the Sports Commission despite depleted funds due to the economic impact of the pandemic.

On top of its mandatory remittances, PAGCOR has been providing financial assistance to some athletes who compete internationally in sports disciplines such as billiards, chess and dancesports among others. A total of P10.97 million cash aid was released by the agency from 2016 to July 2021 for this purpose.

PAGCOR was also the major funding source of the “Kasibulan” Grassroots Football program which was launched in 2012 in partnership with the Philippine Football Federation (PFF). The program helped discover and develop young football talents from the grassroots level to produce potential talents who will represent the country in future international football competitions.