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BIG BOOST TO PHL SPORTS
The Philippine Star
|August 23, 2024
SC APPROVES PETITION ON PAGCOR REMITTANCE TO PSC
In a development that could help sustain the Olympic gains, the Supreme Court acted favorably on the petition seeking to give the Philippine Sports Commission its full share of five percent of gross income from the Philippine Amusements and Gaming Corp as mandated by law.
The petition was filed in 2016 by former congressman Yeng Guiao, who sought to enforce Section 26 of Republic Act 6847 or the PSC law that mandates the gaming body to remit five percent of its gross earnings to the National Sports Development Fund (NSDF).
With the SC decision, the PSC's NSDF coffers stand to get billions in pesos from Pagcor, not to mention the sports agency's share from the Philippine Charity Sweepstakes Office that was also included in the petition.
Esta historia es de la edición August 23, 2024 de The Philippine Star.
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