PAGCOR earns 99.46% rating in gov’t’s annual performance evaluation system

The state-run gaming regulator, Philippine Amusement and Gaming Corp (Pagcor), has been officially recognized by the Governance Commission for Government-Owned or -Controlled Corporations (GOCCs) in the Philippines for its outstanding performance in the 2022 round of the annual performance-evaluation system (PES).

Pagcor’s accomplishment, with a score of 99.46%, is considered to be among the finest in the company’s history. Following Pagcor’s consistent commitment to effectiveness and accountability among GOCCs, this distinction has been granted.

At the first GOCC Governance Awards Ceremony on November 20, Pagcor’s president and chief operating officer, Juanito Saosa, was presented with the honor. Underscoring the medal’s importance, Saosa remarked, “This award serves as validation of our efforts and hard work, but it also inspires us to continuously exceed our past accomplishments – all in the service of our country.”

Pagcor’s flawless scores in a number of areas, such as nation-building projects and increasing payments to national government coffers, contributed to its outstanding overall performance. The achievements of the state gaming regulator were recognized for their beneficial influence on the inclusive economic growth and advancement of the Philippines.

Executive Secretary Lucas Bersamin underlined the contribution that GOCCs provide to the advancement and development of the economy. As evidence of their importance in supporting the country’s finances, he pointed to the fact that the Bureau of Treasury received dividends totaling PHP48.68 billion (US$877.0 million) from several GOCCs.

Pagcor gave the National Treasury PHP6.95 billion for the dividend year 2022. As of the end of 2022, further retained profit distributions are included in this figure. The financial contributions made by the regulator are intended to strengthen national finances and support a number of government projects.

Projecting a net operating income of PHP61.5 billion for the next year, Pagcor is demonstrating its continued dedication to sustaining strong financial performance and making a substantial contribution to the Philippine economy.

Original story by: GGRAsia