Friday, August 12, 2022

Entertainment City casinos to feel the full brunt of license fees


Philippines state-run gaming regulator will soon revoke the reduced license fees given to the four casinos in Entertainment City, according to the Manila Bulletin.

Philippine Amusement and Gaming Corp chairperson Andrea Domingo said the Commission on Audit had already warned Pagcor about the imposition of special rates for some casinos, which costs the government billions in tax income.

Domingo said the original rates will be reinstated “as soon as we can.”

However the Pagcor chief also added that the cancelation of the lowered fees will require approval from the new Pagcor board.

“Since that decision was decided by the previous board, my decision has to be ratified by the present board,” the Pagcor chief said.

The lowering of license fees came in May 2014, after the Bureau of Internal Revenue (BIR) brought a 30-percent income tax to gaming companies.

Before the reduction, Pagcor had originally proposed a 15 percent share from casinos’ gross gaming revenues from high roller tables and junket operations and 25 percent on gross gaming income from non-high roller tables, slot machines and electronic gaming machines.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

3rd party / Cookies
Show settings
Contact us

ASIA GAMING BRIEF
PO Box 1139, Macau SAR
Tel: +853 2871 7267
Fax: +853 2871 7264

Asia Gaming Brief