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The Philippine Charity Sweepstakes Office (PCSO) Vice Chairperson and General Manager Melquiades Aypa Robles and Philippine Racing Commission (Philracom) Chairman Aurelio P. De Leon have agreed to promote horse racing events for 2022.
To implement this, Robles and De Leon signed a Memorandum of Agreement (MOA) in support of this year’s horse racing events on Thursday, August 4, at the Philracom Office, 4th Floor, Electra House Building, Salcedo St., Legaspi Village, Makati City.
The MOA signifies the commitment of PCSO to support the horse racing industry by sponsoring the prizes of several races conducted by Philracom.
For the month of August, Philracom has two races lined up, such as the 2YO Maiden Stakes Race, August 7, San Lazaro Leisure and Business Park, and *2YO Maiden Stakes Race, August 21, MetroTurf.
The PCSO “is the principal government agency for raising and providing funds for health programs, medical assistance and services, and charities of national character.”
It is a self-sustaining government agency; the PCSO does not receive even a centavo of budget from the General Appropriations Act (GAA). It funds itself and its programs and services through its many gaming products.
Every peso of its revenue from its products goes to Prize Fund (55 centavos), Charity Fund (30 centavos), and Operating Fund (15 centavos). (✓)