Philippine Amusement and Gaming Corporation

Domingo: PAGCOR will help secure PH’s economic future post-COVID-19

Wed | 06.10.2020 | 9:30 AM

Domingo: PAGCOR will help secure PH’s economic future post-COVID-19PAGCOR Chairman & CEO Andrea Domingo delivers her Keynote Message during the first day of ICE-SIGMA Asia digital conference on June 8, 2020.

Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Andrea Domingo underscored the significant role that the local gaming industry will play in securing the Philippines’ economic future post-COVID-19.

In her keynote address during the kick-off of ICE-SIGMA Asia Digital conference on June 8, 2020, Domingo said that the resumption of gaming operations in the country will not only benefit PAGCOR and the government but will also trigger economic activities.

“The local gaming industry employs about 132,000 direct hires. It also generates many other economic activities and businesses like restaurants, hotels, malls in Integrated Resorts (IRs), services, transport and real estate. There will be more economic employment opportunities when other gaming stations and casinos open,” she said.

Domingo is hopeful that PAGCOR’s owned and operated casinos can resume operations this June or at the very latest in July.

“We would have been doing very well but then COVID came, and somehow we have to take three steps back. But we’re going to get back and provide funding for the government which is badly needed now,” she cited.

PAGCOR, according to Domingo, has been contributing significantly to the national coffers because of effective regulations and operations. Apart from its mandated contributions, the agency turned over a hefty amount for the government’s COVID-19 response efforts.

“Aside from our mandated contributions, we recently contributed P12 billion cash dividends to the National Treasury. We also gave P2.5 billion to the Office of the President (OP) to help the Department of Health purchase personal protective equipment (PPEs) and medical equipment they need to fight COVID. We likewise gave P12 billion to the OP’s Socio-Civic Projects Fund, a portion of which is being used to provide free medicines to government hospitals and military officials every month,” Domingo shared.

Recently, PAGCOR also remitted an additional P5 billion cash dividends to the National Treasury, bringing the agency’s cash dividends contribution for 2019 to P17 billion.

The PAGCOR chief meanwhile assured that as the regulator and operator of casinos in the country, they ensure that there is a level playing field, where players are protected and government revenues are properly collected.

She likewise noted that PAGCOR looks forward to rise from the challenges brought by the COVID-19 pandemic. Supporting events such as the ICE-SIGMA Asia Digital conference will help broaden the agency’s market and establish its presence not just in the Philippines and Asia, but all over the world.

“By participating in events like this, PAGCOR will learn from what other gaming regulators and operators have been doing in trying to cope with the situation that we all are in right now,” Domingo said.

Organized by Clarion Gaming, the ICE-SIGMA Asia Digital 2020 is a free online conference which runs from June 8-10, 2020. Event topics include future of gaming, tech innovation, e-Sports opportunity, Asian Marketing trends and how the market will recover post-COVID-19.

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