Wednesday, August 10, 2022

SC rules in favor of Bloomberry Resorts Corp.

The Philippines Supreme Court has ruled in favor of casino operator Bloomberry Resorts Corp. regarding its legal dispute with the Bureau of Internal Revenue (BIR), local media reports.

In April 2013, the BIR imposed a corporate income tax to casinos licensed by the Philippine Amusement and Gaming Corp (Pagcor), including Bloomberry Resorts Corp.

However, BRHI, the casino operator at Solaire Resort & Casino filed a petition in 2014, seeking to nullify the provision. The petition argues that as it is a contracting party of Pagcor, it was subject only to the 5 percent franchise tax on its gross gaming revenue, in lieu of all taxes.

On August 10, the SC ruled in favor of BRHI, allowing it to revert to its original license fee structure.

“This Supreme Court decision will allow Pagcor and BRHI as an integrated casino resort to revert to the original license fee structure of 15 percent and 25 percent license fee (inclusive of the 5 percent franchise tax) for high rollers/junket and mass gaming respectively,” the disclosure said on August 10.

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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