By Liezelle Soriano
MANILA — Alejandro Tengco, chairperson of the Philippine Amusement and Gaming Corporation (PAGCOR), announced on Tuesday (August 6, 2024) that Carlos Yulo, who won two gold medals at the 2024 Paris Olympics, will receive P20 million from PAGCOR.
“PAGCOR is mandated to award P10 million for each gold medal won. Since Mr. Yulo has two gold medals, he will receive P20 million,” Tengco stated during a House of Representatives hearing on PAGCOR’s contributions.
Tengco also mentioned that Yulo’s coach and trainer will receive 50 percent of the donation amount, totaling P10 million.
In addition to the P20 million from PAGCOR, Yulo will also receive a condominium worth P32 million from Megaworld, along with an additional P3 million in cash from the same real estate company.
The double-gold winner is expected to receive further incentives from other corporations as well.
The House of Representatives will also give at least P6 million to the athlete.
(ia/mnm)
