Pagcor breaks income record anew

April proved to be another record-breaking month for the Philippine Amusement and Gaming Corp. (Pagcor) as it reported a total income of P1.644 billion for the month, surpassing the previous record of P1.629 billion set only last March.

Pagcor Chairman Efraim Genuino reported that the corporation’s earnings for the first four months of the year now stands at P6.29 billion, or a 16-percent increase over the P5.43 billion income posted during the same period last year.

"Thanks to our resolute efforts to modernize and expand the offerings of our 13 casinos and two slot machines arcades from mere gaming to family-oriented entertainment, our earnings continue to move upward," Genuino said.

He noted that, "Pagcor’s exponential growth only proves that the corporation is a dynamic partner in President Gloria Macapagal-Arroyo’s campaign to help improve the life of the less fortunate among us."

"Our success means there will be more funds to support the government’s socio-civic and other charitable projects," Genuino added.

The Pagcor chief lauded its 11,000-strong workforce for their excellent performance which greatly contributed to the corporation’s phenomenal income. "Our success is really the result of the concerted effort of the whole Pagcor family," he said.

Of Pagcor’s P1.644 billion income for April, P696 million was remitted to the national treasury as the government income share while P90.5 million in taxes was paid to the Bureau of International Revenue. Casino host-cities got P33.5 million. The rest was distributed to beneficiaries mandated by law such as the Philippine Sports Commission, P34.8 million; the Early Childhood Care & Development Fund, P33.3 million; then Gasoline Station Training & Loan Fund, P10 million; the Sports Benefits & Incentives Act, P10 million; and the Board of Claims, P726,000.