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WHAT IS PAGCOR?
The Philippine Amusement and Gaming Corporation (PAGCOR) is a 100 percent government-owned and controlled corporation.

The agency was created during the Martial Law years by virtue of a Presidential Decree (PD1067-A) issued by then President Ferdinand Marcos in response to calls for
the Philippine Government to put a stop to the growing proliferation of illegal casino operations in various parts of the country. The law creating PAGCOR was later
amended and consolidated under PD 1869 otherwise known as the PAGCOR Charter.

Under its Charter, PAGCOR was given a three-pronged mandate:

1. To regulate, operate, authorize and license games of chance, games of cards and games of numbers, particularly casino gaming in the Philippines;
2. TogeneraterevenuesforthePhilippineGovernmentssociocivicandnationaldevelopmentprogramsand
3. To help promote the Philippine tourism industry.

In June 2007, Republic Act No. 9487 was passed by the Philippine Congress which extended the corporate life of PAGCOR by 25 years, renewable for another 25 years.
The amended law also provided for the following amendments to the PAGCOR Charter:

1. PAGCOR can enter into agreements, including joint venture, with any person, firm, association or corporation.
2. RequirementtoobtainconsentofthelocalgovernmentauthoritythathasterritorialjurisdictionovertheareachosenassiteforanyofPAGCORsoperations.
3. Exclusion of jai alai from PAGCOR operations; and
4. Delimitation of regulatory authority and power over gaming activities covered by other existing franchises, regulatory bodies or special laws.

WHERE DOES PAGCOR INCOME GO?

In accordance with its Charter and other governing laws, PAGCOR earnings are distributed as follows:

5 percent of winnings goes to the BIR as franchise tax;

50percentofthe95percentbalancegoestotheNationalTreasuryastheNationalGovernmentsmandatedincomeshare
5percentoftheremainingbalanceafterdeductingthefranchisetaxandtheNationalGovernmentsmandatedincomesharegoestothePhilippineSport
Commission(PSC)tofinancethecountryssportsdevelopmenprograms
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1 percent of the net income goes to the Board of Claims, an agency under the Department of Justice (DOJ), to compensate victims of wrongful detention and
prosecution; and

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5 percent of winnings goes to the BIR as franchise tax;

50percentofthe95percentbalancegoestotheNationalTreasuryastheNationalGovernmentsmandatedincomeshare
5percentoftheremainingbalanceafterdeductingthefranchisetaxandtheNationalGovernmentsmandatedincomesharegoestothePhilippineSport
Commission(PSC)tofinancethecountryssportsdevelopmenprograms
1 percent of the net income goes to the Board of Claims, an agency under the Department of Justice (DOJ), to compensate victims of wrongful detention and
prosecution; and
Cities hosting PAGCOR casinos are given fixed amount for their respective community development projects.

PAGCOR has also been tapped to provide funds for the implementation of vital laws such as the Early Childhood Care and Development (ECCD) program which
promotes pre-school education. The program got an initial allocation of P2 billion from PAGCOR beginning 2002.

The state-owned gaming agency also funds the Sports Incentives and Benefits Act which provides monetary rewards to athletes who win in international sports
competitions.

PAGCOR is also presently waiting for the Implementing Rules and Regulations (IRR) for RA 9153 or the Renewable Energy Act of 2008, funding of which will be sourced
from1.5%ofPAGCORsannualnetincomeandforRA10066ortheNationalCulturalHeritageActof2009whichprovidesforPAGCORsmandatoryfundingofP500
million (at P100 million annually for five years).

On the other hand, the computed net cash income of the corporation is remitted to the Social Fund to sustain the priority projects of the Office of the President.

On top of its mandatory remittances to various government entities, the state-owned gaming firm has also been actively implementing life changing Corporate Social
Responsibility (CSR) projects under its incumbent management.

NEWSLETTER

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