Philippine playing regulator PAGCOR transferred 256 million Philippine pesos ($4.7 million) to the Philippine Sports Commission (PSC) forward of this 12 months’s Southeast Asian Games (SEAG) in Cambodia.
This quantity represents PAGCOR’s necessary contributions to the state sports activities physique for November and December 2022, with PAGCOR Chairman and CEO Alejandro Tengko stating that the quantity is anticipated to extend sooner or later as gaming revenues within the Philippines proceed to stabilize.
“With the amount we have transferred, we hope to make a significant contribution to the preparation of our national athletes for various international competitions and the further development of Philippine sports. Our future remittances will be larger as our operations gradually return to normal,” Tengko mentioned.
PAGCOR mentioned its help for native sports activities contains money grants to athletes and coaches who win worldwide competitions beneath the National Athlete and Coach Benefits and Incentives Act.
The company donated PSC 842.50 million to the thirtieth SEAG in 2019, which was used to improve the primary sports activities amenities used for the Games. These embrace the Rizal Memorial Coliseum and Ninoy Aquino Stadium on the grounds of the historic Rizal Memorial Sports Complex in Malate, Manila, and the multipurpose enviornment of the Filsports Complex in Pasig City.
The company added that PAGCOR additionally made a monetary contribution to the Organizing Committee of the Southeast Asian Games within the Philippines for a biennial assembly.