The Philippine Amusement and Gaming Corporation (PAGCOR) was awarded a Certificate of Recognition by the Department of Finance (DOF) for its valuable contributions to the National Government, specifically through dividends remitted to the National Treasury amounting to Php12.7 billion in 2024.
This award is a meaningful affirmation of PAGCOR’s steadfast commitment to nation-building and fiscal responsibility.
– Alejandro H. Tengco,
PAGCOR Chairman and CEO
The state gaming firm received the citation during the celebration of the 2025 Government-Owned or –Controlled Corporations’ (GOCCs) Day held at Malacañan Palace on September 16, 2025.
PAGCOR had the third highest remittance in 2024, next only to the Landbank of the Philippines (Php33.5 billion) and the Bangko Sentral ng Pilipinas (Php18.9 billion).
Of PAGCOR’s Php12.7 billion dividends, Php8.45 billion represents the mandatory 50 percent government share of PAGCOR’s net income while the remaining Php4.22 billion represents a 25 percent advance that may be applied to future obligations.
Under Republic Act No. 7656 or the Dividends Law, GOCCs are required to remit at least 50% of their net earnings during the preceding year as dividends to the national government. However, the DOF has requested GOCCs to increase their dividends by 25 percent to maximize non-tax revenues.
“This award is a meaningful affirmation of PAGCOR’s steadfast commitment to nation-building and fiscal responsibility,” said PAGCOR Chairman and Chief Executive Officer Alejandro H. Tengco.
“Each peso we generate and remit to the National Treasury reflects the dedication of our workforce and the trust placed in us by the Filipino people.
“As a GOCC, we take pride in being a reliable partner of the Department of Finance in strengthening our country’s fiscal position and supporting programs that uplift lives and sustain growth,” Mr. Tengco added.
Meanwhile, DOF Secretary Ralph Recto lauded the contributions of GOCCs.
“Because of your cooperation, the government continues to improve public services without asking ordinary Filipinos to carry the burden of new taxes,” Secretary Recto said.
“When we set a higher bar for dividend remittances, you have not only responded, but many of you have even exceeded expectations. And you did so not merely because the law required you to, but because you remain true to the very reason you exist: to serve the Filipino people,” he added.
