The Philippine Amusement and Gaming Corp. (PAGCOR) received a certificate of recognition from the Department of Finance (DOF) for remitting P12.7 billion in dividends to the National Treasury in 2024.
The state gaming firm was honored at the 2025 Government-Owned or –Controlled Corporations’ (GOCCs) Day celebration held at Malacañan Palace on Sept. 16, 2025.
PAGCOR’s dividend remittance was the third-highest among all GOCCs in 2024, following the Landbank of the Philippines (P33.5 billion) and the Bangko Sentral ng Pilipinas (P18.9 billion).
It said of the P12.7 billion, P8.45 billion represents the mandatory 50-percent government share of PAGCOR’s net income, while the remaining P4.22 billion is a 25-percent advance payment that can be applied to future obligations.
DOF Secretary Ralph Recto lauded the contributions of all GOCCs, saying their cooperation allows the government to “continue to improve public services without asking ordinary Filipinos to carry the burden of new taxes.”
“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,” Recto said.
PAGCOR chairman and chief executive Alejandro Tengco called the award a “meaningful affirmation of PAGCOR’s steadfast commitment to nation-building and fiscal responsibility.”
“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,” Tengco said.
“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,” he said.
Under Republic Act No. 7656 or the Dividends Law, GOCCs are required to remit at least 50 percent of their net earnings from the preceding year as dividends to the national government.
The DOF, however, requested GOCCs to increase their dividends by 25 percent to maximize non-tax revenues.
