QUESTION from chat: Sir John, kinulong po ng gobyerno tatay ko ng walang kasalanan. Umabot ng 4 years ang kaso, nagutom kami, ako natigil sa pag-aaral. Na-abswelto siya last week. Paano kaya mabawi ni tatay ang nawala niyang income habang nakakulong?
ANSWER: Yes PWEDE. 1 percent of the net cash income of PAGCOR goes to the Board of Claims, an agency under the Department of Justice, which compensates victims of wrongful detention and prosecution.
PAGCOR COMPANY PROFILE
The Philippine Amusement and Gaming Corporation is a 100 percent government-owned and controlled corporation created in 1977 by virtue of Presidential Decree 1067-A and was amended to PD 1869 on July 11, 1983, later known as the PAGCOR Charter.
In 2007 the PAGCOR Charter was further amended through Republic Act No. 9487 extending the PAGCOR Franchise for another 25 years
PAGCOR was created with a three-pronged mandate: to regulate all games of chance, particularly casino gaming in the country, to raise funds for the governments' socio-civic and national developmental efforts, and to help boost the country's tourism industry.
In accordance with its Charter and other governing laws, PAGCOR earnings are distributed as follows:
• 5 percent of net winnings goes to the BIR as franchise tax
• 50 percent of the 95 percent balance goes to the National Treasury as the National Government’s mandated income share
• 5 percent of the balance after the franchise tax and the National Government’s mandated income share goes to the Philippine Sports Commission for financing of the country’s sports development programs
• 1 percent of the net cash income goes to the Board of Claims, an agency under the Department of Justice, which compensates victims of wrongful detention and prosecution
• Cities hosting PAGCOR casinos are given a fixed amount for their respective community development projects
The remaining balance is then remitted to the President’s Social Fund to help fund the priority projects of the government.
PAGCOR operates 13 casinos in 10 major cities across the Philippines, along with 28 satellite casinos 24 VIP Clubs and 4 PAGCOR Arcades. The popularity of Texas Hold’em poker is on the rise in the country with the licensed poker rooms up to 36.
The table games available for play in PAGCOR casinos are the Asian favourite Bacarrat, its variant Super 6, along with the equally popular Black Jack, Pontoon, Stud Poker, Pai Gow, Sic Bo and Craps.
Live entertainment is provided by premier artists, both local and foreign performing center stage on all casinos at given nights. This is peppered by home grown variety of talents that entertain gaming aficionados nightly.
PAGCOR also provide electronic and web-based games in partnership with Philweb.