PAGCOR offers P20M for Yulo's Olympic golds
The Philippine Amusement and Gaming Corporation (PAGCOR) announced a reward of P20 million for Filipino gymnast Carlos Yulo following his victory in two Olympic gold medals at the men's artistic gymnastics events.
Under Republic Act 10699, each gold medal comes with a P10 million reward under PAGCOR’s mandate, and Yulo's coach Aldrin Castaneda will receive a total of P10 million as well.
Yulo's unprecedented double-gold win marks a historic achievement for the Philippines since its first participation in the Summer Olympics in 1924.
The City Government of Manila announced it will reward Yulo with P2 million -- P1 million for each gold medal -- alongside a hero's welcome upon his return to the Philippines.
Aside from the rewards from PAGCOR and Manila, Yulo is also set to receive other incentives including a three-bedroom unit in McKinley Hill from Megaworld and at least P6 million from the House of Representatives.
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