PCSO Sees Higher Earnings With Curb On Illegal Gambling

The Philippine Charity Sweepstakes Office (PCSO) could have contributed even more to the government's coffers if efforts to crack down on illegal gambling had been more successful.

In 2023, the PCSO recorded a notable revenue of P61.45 billion, representing a seven-percent increase from the total gaming revenue of P57.467 billion in 2022. I Image: Philippine Information Agency

PCSO General Manager Mel Robles made this statement following the agency's recent acknowledgment by President Ferdinand Marcos for its substantial financial contribution to the national treasury.

The recognition was conferred during the 2024 Government-Owned or Controlled Corporation's Day held at the Philippine International Convention Center in Pasay City.

This recognition follows the PCSO's turnover of a dividend contribution amounting to P2,684,933,915.10, a significant increase from its 2022 dividend contribution of P2,665,701,213.78.

In 2023, the PCSO recorded a notable revenue of P61.45 billion, representing a seven-percent increase from the total gaming revenue of P57.467 billion in 2022.

"We have been working very hard to maximize our revenue so that we can provide higher remittances to the national treasury, which the government could allocate for its socio-economic initiatives and high-priority programs," said GM Robles.

He added, "However, our efforts are being hindered by the proliferation of illegal gambling operators who exploit PCSO-sanctioned games for personal gain while significantly impacting our potential earnings."

GM Robles highlighted that illegal gambling operations adversely affect the agency's revenue, resulting in income losses that deprive underprivileged Filipinos of essential healthcare and other assistance and benefits provided by the PCSO.

Among the illegal games that the PCSO is combatting are bookies, jueteng, unauthorized small-town lottery draws, and illegal online lotto operations.

Authorities estimate that the PCSO loses billions of pesos in potential revenue to illegal gambling operators annually. Despite the challenges posed by illegal gambling, GM Robles expressed confidence that the PCSO would surpass its income target for the year.

He pledged to intensify their campaign against illegal lotto operators and encouraged the gaming public to support the fight against illegal gambling by patronizing only PCSO-sanctioned games.

Under Republic Act 7656, government-owned and -controlled corporations (GOCCs) like the PCSO are required to remit at least 50 percent of their annual net earnings to the national treasury.

However, Finance Secretary Ralph Recto increased the remittance rate to 75 percent for 2023 earnings to support the Marcos Jr. administration's priority infrastructure, social development, and economic projects.

GM Robles emphasized the agency's ongoing commitment to conducting and supporting various charitable and health programs nationwide despite Recto’s increased remittance requirements.