PAGCOR proudly shares its increased earnings

Transcript

00:00 The Philippine Amusement and Gaming Corporation proudly shared its increased earnings as its

00:05 officials attended the deliberations of the proposed national budget for next year.

00:10 The agency also laid down plans on how to expand revenue in the next few years.

00:14 Melalee Moras has the full details.

00:19 As officials of the Philippine Amusement and Gaming Corporation faced the House Committee

00:24 on Appropriations today for the deliberation of the proposed 2024 national budget, the

00:29 agency proudly shared its increase in revenues which is now nearly at pre-pandemic level.

00:35 This is really vital as an income-generating institution considering the fact that the

00:39 PAG-COR is one of the sources of the country's annual national budget.

00:45 In the first half, we were able to achieve about 36 billion.

00:55 We're looking really at 72 as the minimum level.

00:59 Barring any geopolitical problems, I commit that we will continue to make sure that PAG-COR

01:08 will be run professionally and that we will make sure that we can reach the 100 billion

01:16 mark.

01:17 Hopefully, my target is in 2025.

01:20 2024, I think I am confident we can surpass pre-pandemic levels.

01:28 PAG-COR announced the further increase in its income as 45 of its casinos are set to

01:33 be privatized by 2025.

01:35 Among the flagship projects that the PAG-COR aims to pull off is the construction of more

01:40 school buildings, creation of e-learning centers, community wellness centers, and other social

01:46 civic centers.

01:47 PAG-COR disclosed how they have been receiving various daily requests for different projects,

01:52 but they clarified they can't accept all of them due to the limitations mandated by the

01:56 constitution.

01:57 There are many requests that PAG-COR is not qualified to run, like the ambulance.

02:04 So what I told the group, if possible, you should immediately answer when explained

02:11 because in my administration, more than 70 to 80 percent of the requests are not qualified.

02:23 During the discussion, some controversies were also brought up like the issue on PAG-COR's

02:27 new logo.

02:28 Definitely, it followed the procurement process under Republic Act 9184.

02:35 The process was followed, in fact, after the controversy, I had it reviewed.

02:43 The process was definitely followed.

02:47 After the PAG-COR, officials of the Philippine Charities Sweepstakes Office also faced the

02:51 lawmakers, but the hearing was suspended.

02:54 Melalas Moras for the Nation.