Philippine athletes, coaches and trainers may be celebrating the Christmas not just this December but for the upcoming months as a financial windfall awaits the Philippine Sports Commission.
Thanks to Santa Yeng Guiao who haled PAGCOR and PCSO to court when he was the Congressman of Pampanga’s First District.
Spin.PH reported that the appeal of PAGCOR on the previous ruling of the SC to remit all PSC shares from the gaming agency’s 5 percent gross income was denied by the High Tribunal.
“This is a victory for Philippine Sports and our people in general. It’s been long delayed justice that the Supreme Court has rectified with this landmark decision,” Guiao said.
“We should be grateful to all the justices of the supreme court for their unanimous judgement on this matter of utmost consequence to the future of Philippine sports,” he added.
This covers year 1993 to present. Under RA 6847 or the PSC Law, the Sports agency should be receiving shares from Pagcor and the PCSO.
The PCSO was also mandated to remit 30% of the charity fund from six sweepstakes or lottery draws annually, from 2006 to the present.
Sports insiders estimate that PSC stands to get a windfall of at least ₱30 billion.
PSC Chairman Patrick “Pato” Gregorio welcomed the news as this would boost the national sports development program.
“I am forever grateful to (Coach) Yeng Guiao. I thank him for believing In Philippine Sports.
“I must point out, our relationship with PAGCOR under the leadership of
chairman Al Tengco is stronger than ever. There is no Philippine Sports if there is no PAGCOR,” Gregorio said.
Once remitted, PSC will ramp up its improvement of its existing facilities, build new training centers and come up with more incentives and benefits for national athletes and coaches.
It has recently approved more allowances and Christmas bonuses for the Philippine delegation to the SEA Games in Thailand this month.
