Pagcor – Carlos Yulo to Receive P10 Million for Each Olympic Gold Medal

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MANILA, Philippines — Gymnast Carlos Yulo is set to receive a cash reward of P10 million from the Philippine Amusement and Gaming Corporation (Pagcor) for every gold medal he secures at the 2024 Paris Olympics, as announced by Pagcor Chairman Al Tengco on Tuesday.


During a hearing by the House Committee on Appropriations regarding Pagcor's contributions to the national budget, Tengco revealed that Yulo's success could earn him a total of P20 million if he wins two gold medals. "As mandated by law, Pagcor is required to grant P10 million to every gold medalist, so since Mr. Yulo has two golds, he will receive P20 million. This is the first time I am making this announcement publicly," he stated.


In addition to Yulo's earnings, his coach and trainer will receive 50% of Pagcor's total donation, amounting to P10 million, or P5 million for each gold medal.


House Speaker Ferdinand Martin Romualdez previously mentioned that Yulo would also be awarded P3 million from the House of Representatives for each gold medal, bringing his total expected earnings to P6 million.


Yulo made history by winning two gold medals at the 2024 Paris Olympics, first in the men’s artistic gymnastics final on Saturday night and then in the men’s vault finals on Sunday night.

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