PAGCOR has been a bulwark in the Philippine gaming industry. The regulator-slash-operator of gaming businesses in the Asian country has also been a big contributor to the state budget, good causes, relief funds, educational initiatives, and local government schemes. PAGCOR’s Corporate Social Responsibility mandate has now resulted in a total of PHP19.5 million or $331,000 turned over to various organizations as part of its strong commitment to supporting regional developments.
Numerous Beneficiaries of Latest Grants
The new grants have been awarded to the Kaginhawaan Development Institute, Inc, Wounded Soldiers Agriculture Cooperative, Provincial Government of Isabela and Barangay Bautista, and Organization of Student Services Educators, Inc. The biggest chunk of the donation, PHP12.5 million ($212,000) was allocated to the Kaginhawaan Development Institute to support the organization’s Livelihood Expansion for Marketing and Agri-Learning Program.
An additional PHP1.83 million ($31,000) was allocated to the Wounded Soldiers Agriculture Cooperative, the regulator stated. Last but not least, the University of the Philippines Diliman, the Provincial Government of Isabela and Barangay Bautista, Laguna all received PHP2.46 million ($42,000), PHP 2.36 million ($40,000) and PHP 366,400 ($6,200) respectively. The sums are allocated based on merit and urgency and are a part of PAGCOR’s broader commitment to ensure that it continues to support government initiatives.
PAGCOR Insists the Status Quo Works
PAGCOR has held its ground firmly against accusations that the regulator is doing too little to bring in revenue to the state when, in reality, every peso generated through tax from the gambling industry has been remitted straight to the governmen ufa888 t or directed as per government requests to different regional initiatives.
PAGCOR is currently also debating whether state-owned casinos should be privatized, a move in which the organization’s new CEO and chairman, Alejandro Tengco, sees a rationale as it may actually end up boosting results across the board and generate even bigger revenue for the state coffers. Whether this would work this way remains to be seen.
