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| Filipino Olympic medalists Hidilyn Diaz, Nesthy Petecio, Carlo Paalam and Eumir Marcial with their coaches and officials of PSC and PAGCOR during the courtesy call inside Malacañang Palace (Image Source: Philippine News Agency) |
Philippine Sports Commission (PSC) chairman William Ramirez acknowledges the vital role played by the Philippine Amusements and Gaming Corporation (PAGCOR) in the country's historic finish in the Tokyo 2020 Summer Olympics. In a letter to the state-run gaming firm, Ramirez expressed his gratitude for the support that PAGCOR continuously extends to the PSC, which he said helped the Philippine delegation come up with a triumphant campaign in the recently-concluded Olympic Games, highlighted by the country's first Olympic gold medal and a haul of two silvers and one bronze. "Pagcor’s contributions funded the training and preparation of the Philippine team for the Olympics. With their help, our national athletes are able to show the world just how talented the Filipino athletes are," Ramirez stated in an August 24, 2021 news release.
On August 23, 2021 (Monday), the PSC formally released the PAGCOR-funded cash initiatives to the Olympics achievers during their courtesy call to Philippine President Rodrigo R. Duterte inside Malacañang Palace. Getting the lion's share of the cash windfall was weightlifter Hidilyn Diaz who received a total of Php15 million for winning the Philippines' first Olympic gold medal and setting a new national and Olympic record. Rewarded with Php5 million each were silver medalist boxers Nesthy Petecio and Carlo Paalam while another boxer Eumir Marcial received Php2 million for his bronze medal finish. On the other hand, Diaz' trainer Antonio Agustin Jr. received a total of Php5 million for helping the weightlifter achieve the historic feat while boxing coaches Elmer Pamisa, Nolito Velasco, Ronald Chavez and Reynaldo Galido have also received cash incentives from the state-run gaming firm. Meanwhile, swimmer Luke Michael Gebbie and weightlifter Eireen Ann Ando also received Php250,000 each for setting respective national records.
The release of cash incentives for the triumphant Filipino Olympians is mandated by Republic Act No. 10699, also known as the National Athletes and Coaches Benefits and Incentives Act, which provides financial rewards to athletes and their coaches for their achievements and exemplary performance in major international sports competitions. Under the said act, the funds will come from PAGCOR, chargeable against its National Sports Development Fund. PSC officials and PAGCOR chairperson and chief executive officer Andrea Domingo joined the President during the turnover of cash incentives to the winning athletes. Domingo said PAGCOR takes pride in being instrumental to the country's triumphant campaign in the Tokyo 2020 Olympic Games with its long-standing support to national sports development programs. “We will never tire in our effort to pump-in the necessary support to athletic development as we’re certain that more Filipino sports heroes will emerge in the future with ample financial backing,” she stated.
Being one of PSC's main funding sources, PAGCOR remits a substantial portion of its revenues to the government sports agency to finance the country's sports development programs and fuel the training of national athletes in their participation to international sports competitions. From 2016 to June 2021 alone, the state-run gaming firm remitted a total of Php7.37 billion to the PSC. Of this amount, Php7.10 billion comprised the PSC's share by virtue of Republic Act No. 6837. When the Philippines hosted the Southeast Asian Games in 2019, PAGCOR also donated Php842.5 million on top of its regular remittances to the government sports agency for the rehabilitation of major sports facilities including the Rizal Memorial Coliseum and Ninoy Aquino Stadium inside the historic Rizal Memorial Sports Complex in Malate, Manila as well as the Philsports Complex Multipurpose Arena in Pasig City.
