Ramirez: PSC will get 5% from Pagcor
CHANGE will happen quickly when the Philippine Sports Commission finally gets its rightful share from the revenues of the Philippine Amusement and Gaming Corp. (Pagcor).
Incoming PSC Chair William “Butch” Ramirez said he will pursue the original 5-percent share of the sports agency which the state-owned casino corporation has slashed into half over the years.
“We will bring it up with the ES (Executive Secretary),” said Ramirez after his meeting yesterday with outgoing PSC Chair Richie Garcia at the PSC administration office.
Article continues after this advertisement“We can also talk to the chairman of the Pagcor and even the President.”
Since 1993, Pagcor has been remitting only 2.5 percent of its monthly gross revenue to the PSC, instead of the 5-percent share as mandated by law.
It is estimated that the uncollected amount from Pagcor is now over P10 billion.
