EMPOWERING FILIPINO SPORTS HEROES
WITH its unwavering support to local sports development over the years, the Philippine Amusement and Gaming Corporation (PAGCOR) has continuously aided in the country’s resurgence as a force to reckon with in the international athletic stage.
From 2016 to 2021, the state-run gaming firm released a total of P7.84 billion in line with its mandate to support sports development.
Of this amount, P7.52 billion was remitted to the Philippine Sports Commission (PSC) as part of the government sports body’s income share as mandated by Republic Act (RA) 6847. Because of these remittances, PAGCOR helped fuel the training and development of athletes who made historic feats in the 30th Southeast Asian Games (SEAG) hosted by the Philippines in 2019, the 2020 Tokyo Olympics and in the 31st SEAG held in Hanoi, Vietnam this year.
Apart from its remittances to the PSC, PAGCOR has also released a total of P318.18 million to cover the retirement benefits and cash incentives to athletes and their coaches who put the country in the global sports map with their outstanding performances in major international competitions.
A huge chunk of said amount – or P38.50 million was given by the agency as cash windfall to the Filipino athletes who made history after clinching medals in the Tokyo Games. The lion’s share of the incentives went to weightlifter Hidilyn Diaz, who received a total of P15 million for winning the Philippines’ first-ever Olympic gold medal and erecting new Olympic and national records.
Other Filipino Olympics achievers, silver medal-winning boxers Nesthy Petecio and Carlo Paalam, each received P5 million, while fellow pugilist, Eumir Marcial, was rewarded P2 million for his bronze medal conquest in the quadrennial meet.
Likewise handed cash incentives were the triumphant athletes’ coaches and trainers, which was equivalent to their wards’ financial rewards.
With the Philippine delegation bringing home more than two hundred medals after the recently concluded 31st SEAG, PAGCOR is set to fulfill its obligation to release the cash incentives to the medalists and their coaching staff.
The grant of cash incentives to winning athletes is mandated by RA 10699, otherwise known as the National Athletes and Coaches Benefits and Incentives Act, which provides financial rewards to athletes and their coaches who win in major international sports competitions.
Also comprising PAGCOR’s cash incentives remittances from 2016 to 2021 was the P1.8 million grant released for the medal-winning athletes in the Taipei 2018 Taekwondo Championship and the P1.65 million the agency gave to the athletes and their coaches who bagged honors in the Asian Weightlifting Championship held in Uzbekistan.
Besides remitting its mandated shares to PSC and cash grants to winning athletes, PAGCOR played a vital role in the successful staging of the 30th SEAG in 2019 by donating P842.50 million to the PSC for the rehabilitation of major sports facilities utilized for the Games. Among these sports facilities were the Rizal Memorial Coliseum and Ninoy Aquino Stadium inside the historic Rizal Memorial Sports Complex in Malate, Manila and the Philsports Complex Multi-purpose Arena in Pasig City.
The state-run gaming firm also made financial contribution to the Philippine Southeast Asian Games Organizing Committee for the hosting of the biennial meet.
