Gambling gains: PAGCOR remits P5B to Malacañang special fund
This is where gaming revenues go.
The Philippine Amusement and Gaming Corporation (PAGCOR) said they have remitted P5 billion to the Office of the President which will fund various Socio-Civic Projects Fund (SCPF) on Oct. 25.
In a statement, the gaming regulator and operator said the fund is used for general miscellaneous expenses undertaken by Malacañang, which is collected from casino operations.
The SCPF is often used in granting financial assistance to various sectors, which include healthcare aid for soldiers and police, burial fees, educational assistance, housing grants, among others.
PAGCOR has given P11.5 billion to the fund since last year.