Philippine Amusement and Gaming Corp. (Pagcor) infused P10.1 billion to the national coffers during the first 11 months of 2008, according to the Bureau of Treasury.

Pagcor turned in P1.01 billion worth of dividends to the Treasury Department in November, bringing to P10.1 billion the total amount it remitted in the January to November period last year.

In 2007, Pagcor remitted P10.31 billion to the government or 7.4 percent more than the P9.6 billion it remitted in 2006. It is one of the biggest profit-earners among government-owned and -controlled corporations (GOCCs) as it operates a network of casinos and other gambling facilities nationwide.

As a GOCC, Pagcor is required by the law to remit as much as 50 percent of its annual gross earnings to the government.

It was created by Presidential Decree 1067-A, and Presidential Decree 1067-B gave it a 25-year franchise to operate casinos nationwide. Both decrees, issued by the late dictator Ferdinand Marcos, took effect on January 1977, which means Pagcor's franchise was supposed to have expired on January of 2002.

But the Congress is deliberating on pending bills that seek to extend the franchise of Pagcor by another 25 years.

Meanwhile, state-owned enterprises and government financial institutions ((GFIs) beefed up the national coffers by P5.42 billion for the 11-month period of last year

Dividends remitted by GOCCs and GFIs in 2007 plunged by 43 percent P9.16 billion from a record P16.25 billion in 2006 after these state-run enterprises pursued infrastructure projects and social services programs to spur the domestic economy.