PAGCOR loses P2.2b due to unpaid revenues by POGO that went missing

THE Philippine Amusement and Gaming Corporation (PAGCOR) has registered P2.2 billion in “losses” from Philippine Offshore Gaming Operations (POGO) firm that has closed shop.

At a budget hearing of the House appropriations committee, PAGCOR chief Alejandro Tengco made the statement to legislators in reference to the over P2 billion of PAGCOR collectibles that the Commission on Audit (COA) reported in June 2022.

“The amount was not collected in the past administration... it was a P2.2-billion receivables from a POGO licensee during the last administration. During the pandemic, nawala na lang po parang bula iyong POGO,” Tengco told the panel chaired by Ako Bicol Rep. Elizaldy Co.

The Co panel deliberated Monday on the Pagcor’s proposed P5.768-trillion budget for 2024.