Pagcor registers record income of P1.81billion in May

The Philippine Amusement & Gaming Corp. (Pagcor) announced yesterday that its net income for the month of May reached P1.81 billion, the highest ever in the corporations’s history.

Pagcor said that with this outstanding performance, the poor are assured of getting more financial aid from the government of President Arroyo.

The record income is a remarkable jump of P170 million from April’s showing of P1.64 billion.

Some P1.12 billion or 61.86 percent of P1.81 billion has been earmarked for the government and its mandated beneficiaries, including assistance to socio-civic projects for the poor of President Arroyo.

Even more phenomenal, Pagcor said is that its income from January to May this year had already reached P8.10 billion, an increase of 19 percent from the P6.78 billion generated during the same period in 2001.

Already impressed by the trail-blazing income record of Pagcor, President Arroyo may be seeing nothing yet. As she speaks of the good work Pagcor has done in revenue generation, Pagcor Chairman Efraim Genuino announced that the corporation is confident of hitting its target of P2 billion a month within the remaining months of the year which will mean an increase of P800 million a month in income over the previous administration’s record of P1.2 billion.

"Pagcor has done the incredible by breaking all its previous income records in spite of the shattering economic turmoil that continue to characterize the global landscape today," Genuino said.

More importantly, he said that Pagcor’s increased revenues means more money has become available to help the President uplift the lives of the poorest of the poor.

"We offer this achievement to President Arroyo. Her leadership, her clear directive to produce outstanding results, continue to be our inspiration and our guide," Genuino said. "We continue to achieve outstanding results through scientific management and humane leadership and the fantastic efforts of our highly motivated Pagcor employees."

Pagcor established new records beginning March when its 13 casinos, bingo parlors and two slot machine arcades registered winnings of P1.63 billion, "We will sustain the momentum by increasing our creative marketing efforts through modernization program to make Casino Filipino a recognized brand in gaming and entertainment all around the world," Genuino said.