The Philippines wants to generate tax revenue from the gaming industry, calling for 25% income tax on foreign employees and 5% tax on offshore gaming operators’ gross gaming revenue. Offshore Gaming Operators to Pay 5% Tax in the Philippines Philippine President Rodrigo Duterte has called lawmakers to move forward and pass the bill, which would set income […]
The Philippines still hasn’t been able to start its recovery from COVID-19, with cases still emerging that are hindering the relaxation of health restrictions. Metro Manila is still under modified quarantine, and will be until the middle of the month, which means casino revenue will still be under expectations. The biggest benefit can be offered […]
PAGCOR, the Philippine gambling regulator released data outlining gross gaming revenue for Q1 of 2021. GGR in Q1 of 2021 hit Php23.27 billion, which marks an increase of 17.5% when compared to Q4 2020. Licensed Casinos Mark Increase in GGR for Q1 2021 More than a year has passed since the start of the global […]
The pandemic has prompted Philippines gambling regulator PAGCOR to expedite the transition towards online legal gaming hosted by the country’s leading casino resorts. Casino Resorts in the Philippines Turn to Online Gambling as Lifeline Philippines state-controlled Entertainment City integrated resort operators have launched online casinos as the country continues to battle a raging COVID-19 pandemic which has […]
While other areas of the world have seen significant improvements in the COVID-19 fight, the Philippines haven’t been as lucky. The country hasn’t been able to free itself from the grasp of the coronavirus, which forced the government to issue new quarantine restrictions at the end of last month. These restrictions affected casino operators in […]
The Supreme Court of the Philippines has blocked a 5% franchise tax that focuses on POGOs turnover instead of their revenue, leading to many deciding to quit in the end. Philippines Puts the Tax Burden on POGOs The Philippines is struggling with a mass exodus of casino operators that have been leaving due to a […]
PAGCOR contributed $354 million to the Bureau of the Treasury in a bid to bolster Covid-19 relief efforts in 2020. PAGCOR Continues to Help in Covid-19 Relief Efforts The Philippines gaming regulator (PAGCOR) has played a key role in offsetting the economic impact the Covid-19 pandemic has inflicted on the country, remitting an estimated $354 […]
Rich Goldman Holdings announced in a filing to the Hong Kong Exchanges and Clearing (HKEX) December 30, 2020, it signed a profit share agreement with the joint venture partner to commence junket business at Solaire Resort & Casino in Manila. Junket Operations Cleared to Commence The signed profit share agreement between the former Macau junket […]
The Philippines has extended the lockdown measures on Metropolitan Manila until 31 January next year. Extended Measures On Monday, Philippine President Rodrigo Duterte announced that Metropolitan Manila will remain under general community quarantine (GCQ) until the end of January 2021. Mr. Duterte’s statement was released by the country’s official media agency – the Philippine News […]
The Philippines plan to revive its gambling industry by attracting foreign operators, allowing betting for locals, and providing new services such as horse racing and cockfighting. The Philippines Revives Economy with More Online Gambling and Betting The Philippines is moving towards introducing online gambling for local operators, expanding overseas, and coining new gambling products such […]
