PCSO remits P2.68B to nat'l treasury

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MANILA – The Philippine Charity Sweepstakes Office (PCSO) on Wednesday said it has turned over to the national treasury a dividend contribution of P2.68 billion for the year 2023.
The amount represents a significant increase from its 2022 dividend contribution of P2.66 billion, the state lottery firm said in a news release.
In 2023, PCSO achieved a notable revenue of P61.45 billion, marking a 7-percent rise from the total gaming revenue of P57.467 billion in 2022.
"We have been working very hard to raise as much revenue as we can, so that we can hand higher remittances to the national treasury which the government could use in its socio-economic initiatives, and high-priority programs," PCSO general manager Mel Robles said.
"However, our goal is being stymied by the proliferation of illegal gambling operators who were using the PCSO-sanctioned games to line their pockets while greatly affecting our potential earnings," he added.
He said illegal gambling operations have a detrimental impact on the revenue generated by the agency, as the income losses deprive poor Filipinos of the healthcare, and other assistance and benefits the PCSO provides.
Among the illegal games that the PCSO is trying to combat are bookies, jueteng, unauthorized small-town lottery draws, and illegal online lotto operations.
Authorities estimate that the PCSO is losing billions of pesos in potential revenue to illegal gambling operators annually.
Despite the continued operations of illegal gambling, Robles, however, is confident that PCSO will surpass its target income this year.
Under Republic Act 7656, government-owned and -controlled corporations (GOCCs) such as the PCSO must remit at least 50 percent of their annual net earnings to the national treasury.
However, Finance Secretary Ralph Recto has increased the remittance rate to 75 percent for 2023 earnings to support the Marcos administration's priority infrastructure, social development, and economic projects.
Despite the DOF's increased remittance requirements, Robles assured that the agency would continue supporting various charitable and health programs nationwide.
Lone bettor wins P51.9-M jackpot
Meanwhile, a lone bettor from Bataan province became an instant millionaire after hitting the P51. 9million jackpot of Tuesday night's Super Lotto 6/49 draw.
In an advisory Wednesday, PCSO said the winning combination 40-18-07-06-24-27 carried a total jackpot prize of P51,964,353.60.
The tickets were purchased Balanga City.
Winners have one year from the date of the draw to claim the prize, as specified in Republic Act 1169, the law on PCSO lotteries.
All jackpot prizes must be claimed at the PCSO main office in Shaw Boulevard, Mandaluyong City. Lotto winnings of more than P10,000 are subject to 20 percent tax under the Tax Reform for Acceleration and Inclusion Law.
Meanwhile, 15 others won P50,000 each for guessing five of the six winning digits; 1,179 will get P1,200 each for four correct digits; and 22,151 will settle for P50 each for three correct digits.
The Super Lotto 6/49 is drawn every Tuesday, Thursday, and Sunday.
PCSO urges the public to patronize their games as a large chunk of revenues goes to charity programs. (PNA)

Last Modified: 2024-May-08 17.56.26 UTC+0800