White label solutions


Subscribe

订阅

Asia Casino News │ ACN东方博彩新闻

Asia Casino News outlet for Online Gaming and Gambling Industry in Asia.

Image Source Manila Standard

Philippine Sports Commission Could Receive up to P25 billion From PAGCOR, PCSO

August 29, 2024 Philippines iGaming & GamblingSports

The Supreme Court’s landmark decision on the proper remittances of two government agencies to the Philippine Sports Commission (PSC) is far from over.

Former Pampanga congressman and PBA coach Yeng Guiao emphasized the importance of seeing this decision put into action. The ruling mandates the Philippine Amusement and Gaming Corp. (PAGCOR) to remit 5 percent of its gross income to the PSC from 1993 to the present. Additionally, the Philippine Charity Sweepstakes Office (PCSO) must allocate 30 percent of its charity fund from sweepstakes and lottery draws to the PSC from 2006 onward.

Guiao was quoted as saying in an August 27 PNA report, “Ayaw natin na parang moral victory lang ito. Legally and morally, we’re standing on solid grounds. Yung bulk of the work andiyan na, e.” (We don’t want this to be just a moral victory. Legally and morally, we’re standing on solid grounds. The bulk of the work is already done.) He spoke during the August 27 Philippine Sportswriters Association (PSA) Forum accompanied by his lawyer, Avelino “Jun” Guzman Jr.

Guzman added, “Ang kailangan talaga dito yung pondo pumasok sa PSC.” (What is really needed here is the funds to be remitted to PSC.) He emphasized the necessity of ensuring that the funds reach the PSC and not just remain a theoretical victory.

The Supreme Court’s decision, finalized last week, ordered PAGCOR and PCSO to release the necessary funds to the PSC. This decision comes eight years after Guiao, then vice chairperson of the House of Representatives Committee on Youth and Sports, initially filed the petition. Senior Associate Justice Marvic Leonen authored the ruling, which was reviewed by all 15 justices of the Supreme Court.

Under the court’s rules, PAGCOR and PCSO cannot appeal the decision but have 15 days to file a motion for reconsideration. As of Tuesday, neither agency had taken any action.

Guiao estimates that the PSC could receive up to PHP25 billion. This estimate is based on the fact that PAGCOR reduced its contribution to 2.1735 percent of its gross income starting in 1993 following an executive order issued during President Fidel V. Ramos’s administration.

“Ang kuwenta ko, tingin ko nasa PHP25 billion siya,” (My estimate is that it could be around PHP25 billion,) Guiao said. He considers the ruling one of the most significant developments since the PSC’s establishment in 1990.

Guiao believes this substantial funding could help build sports complexes nationwide and support the training and development of Filipino athletes for years.

“Masarap pakinggan, magandang isipin. Pero ang dapat makinabang dito yung mga atleta. Makalimutan na kami, ok lang yun. Pero at least sa next generations of athletes, may na-contribute kami,” (It sounds good and is nice to think about. But what matters is that the athletes benefit. We can be forgotten, that’s fine. At least, for the next generations of athletes, we’ve contributed.)

Read related article: Supreme Court Orders PAGCOR to Remit 30 Years’ Worth of Payments to Philippine Sports Commission

Leave a Reply

Your email address will not be published. Required fields are marked *