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Supreme Court orders PAGCOR to restore 5% sports commission remittance

Regulation

The Supreme Court of the Philippines ordered PAGCOR to restore monthly remittances of 5% of gross revenue to the Philippine Sports Commission, reportedly requiring arrears dating from 1993 to be paid over 10 years. The outstanding amount was reported at PHP37bn, and commission chairman Patrick Gregorio said he had met PAGCOR chief Alejandro Tengco to discuss payment terms.

PAGCOR’s required remittances affect its payments to the sports commission and the treatment of past obligations.

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Regulation

PAGCOR expects government commission endorsement of proposed decoupling

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