Pagcor remittance to Philippines government down 9% in 2010

Peter Amsel
October 30, 2010
3 Comments

pagcor-remits-philippinesPagcor, the state-owned Phillipine Amusement and Gaming Corporation, has remitted 7.7b Philipines pesos ($180m US) to government coffers in the first nine months of 2010. That’s down 9% from the nearly 8.5b pesos ($198m US) remitted during the same period last year. Estimates for the total year contribution are expected to be off 10% from 2009’s tally.

Pagcor oversees 13 casinos, 28 satellite casinos, 25 exclusive clubs and four Arcades across the country. The casino gaming regulator is required to kick 5% of net winnings to the Bureau of Internal Revenue as franchise tax, with half of the remaining 95% going to the Bureau of Treasury. With the government trying to get its escalating deficits under control, President Benigno Aquino is looking to privatize Pagcor, and perhaps get all the golden eggs out of that goose’s belly all at once.

If you have any further information related to this story that you would like to share with us privately please click here.

Can't get enough CalvinAyre.com? Follow us on Twitter and Facebook, then you'll never miss out on the latest gaming industry news.

Share
Tags: Article, PAGCOR, Philippines
Views and opinions expressed are those of the Author and do not necessarily reflect those of CalvinAyre.com
  • http://topsy.com/calvinayre.com/2010/10/30/business/pagcor-remittance-philippines-government-down/?utm_source=pingback&utm_campaign=L2 Tweets that mention Pagcor remittance to Philippines government down 9% in 2010 — Topsy.com

    [...] This post was mentioned on Twitter by Calvin Ayre and Calvin Ayre, James Boyer. James Boyer said: Pagcor remittance to Philippines government down 9% in 2010: Pagcor remittance down 9% this yearBusiness News http://bit.ly/cFx1QQ [...]

  • http://calvinayre.com/2011/01/27/business/text-based-lotto-game-headed-to-the-philippines/ Text-based lotto game headed to the Philippines

    [...] online gambling market in the Philippines, as the Philippine Amusement and Gaming Corporation (Pagcor) has already launched a number of similar products.Yet the games must still earn the approval of [...]

  • http://calvinayre.com/2011/08/09/casino/pagcor-loses-p160m-to-syndicate/ Scam costs Pagcor P160m | Casino news

    [...] row has broken out in the Philippines after the Philippine Amusement and Gaming Corp (Pagcor) lost around P160million to three members of a foreign gambling syndicate. The three members of the [...]