PAGCOR boosts rehab of SEAG facilities with P842.5 million grant to PSC
Wed | 6.26.2019 | 5:20 PM
PAGCOR Chairman and CEO Andrea Domingo (3rd from right) hands over the check amounting to P842.5 million to Philippine Sports Commission (PSC) Chairman William Ramirez. The amount will be used to fund the rehabilitation of facilities that will be utilized for the country's hosting of the 30th Southeast Asian Games this coming November. With them in photo are (from left) PAGCOR Director Reynaldo Concordia, President and COO Alfredo Lim, Director Gabriel Claudio and PSC Executive Director Merlita Ibay.
THE country’s hosting of the 30th Southeast Asian Games this November got a much-welcome shot in the arm after the Philippine Amusement and Gaming Corporation (PAGCOR) granted a total of P842.5 million to the Philippine Sports Commission (PSC) for the rehabilitation of facilities that will be utilized for the biennial regional multi-sports event.
PAGCOR Chairman and CEO Andrea Domingo, together with President and COO Alfredo Lim and Directors Reynaldo Concordia and Gabriel Claudio, led the turnover of the check to PSC Chairman William Ramirez and Executive Director Merlita Ibay at the PAGCOR Executive Office in Manila on June 26, 2019.
With more than four months remaining before the opening of the keenly-awaited athletic spectacle, the local sports governing agency seeks to fast-track the refurbishment of various sports structures like the Philsports Complex Multipurpose Arena, Rizal Memorial Track and Football Stadium and the Ninoy Aquino Stadium.
The said facilities will house some of the events and will serve as headquarters of the Philippine Southeast Asian Games Organizing Committee (PHISGOC).
“The aid given to us by PAGCOR is priceless. The rehabilitation of the facilities for the SEA Games is an important contribution to Philippine sports as it will help improve the performance of our athletes and change the picture of local athletics. Napakalaking bagay nito para sa amin,” Ramirez said.
The P842 million granted by PAGCOR to the PSC is separate from the monthly remittance of the state-run gaming firm to the local sports governing agency. PAGCOR is mandated by law to remit five percent of its income to the PSC to finance the country’s sports development programs. It also funds the Sports Benefits and Incentives Act, which provides monetary rewards to athletes and coaches who win in international sports competitions.