Tuesday, June 28, 2022

Lawmaker requests probe into underreported casino revenue


A member of the House Committee on Games and Amusement has filed a resolution urging Congress to look into the tax compliance of integrated resorts and casinos in the Philippines, local media reports.

In House Resolution 627, House Assistant Majority Leader Niña Taduran of ACT-CIS Party-list urged the lower chamber to look into reports of misdeclaration of revenue by integrated resorts, which would affect gaming tax remittances to the government. 

The lawmaker referenced a report from the Philippine Amusement and Gaming Corp. (Pagcor), which said that Credit Suisse, an investment bank, forecasted earnings of P297.4 billion from casinos in 2018, but only reached P200 billion.

“An inquiry and audit on the GGR [gross gaming revenue] of these casinos will be beneficial in ensuring that the right taxes are paid to the government,” she said.

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

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