The Cambodian government has encouraged the casino industry to flourish in the country and its 69 licensed casinos have witnessed a combined increase in revenues during the first nine months of this year bringing in an additional $34.7 million in gambling taxes, which is a 35.5% increase when compared...
The Supreme Court of the Philippines has upheld its decision that declared Bloomberry Resorts and Hotels, Inc.’s (Bloomberry)(BLOOM.PS) exemption from paying a corporate tax, imposed by the Bureau of Internal Revenue (BIR), as a franchisee of the Philippine Amusement and Gaming Corporation (PAGCOR). The High Court has enjoined the BIR...
Japan has taken another major step toward lifting the country’s ban on casinos and opening what could become one of the world’s most lucrative gaming markets. On Tuesday, the lower house of the Diet (parliament) passed a casino bill that has taken years to advance and has piqued the interest...
Rent paid by the Golden Nugget casino intended to go to the city of Biloxi, but that inadvertently went into the state general fund, has made its way to the Mississippi city. The $2.6 million, which is most of the city’s share of the rent once divided between the property owners,...
Mayor Don Guardian and Atlantic City legislators submitted a proposed financial recovery plan that was a 125 pages long outlining what the beleaguered city plans to do in the next 5 years to reduce its $500 million debt and increasing funding for its growing budget. One of the points highlighted...
A report issued on Tuesday by Cambodia’s Ministry of Economy and Finance (MEF) indicates that over the first nine months of 2016, one-third more tax was contributed by the country’s casino industry. According to the MEF report, as of September 30, the country located in Southeast Asia had 69 licensed...
Australian billionaire James Packer who is the biggest shareholder in Crown Resorts has come under the radar of Israeli authorities after showering Israeli Prime Minister Benjamin Netanyahu and his family with a number of gifts and benefits. Channel 10 confirmed earlier this week that an investigation has been launched...
The tax for slot machines and betting shops in the Russian Federation will be doubled by the Russian Finance Ministry, according to an Asia Gaming Brief report. The news agency reports that Deputy Finance Minister Alexei Moiseyev (pictured) made the remarks during a briefing on Friday at the Moscow Financial...
Despite adjourning for the remainder of the year last week without approving a measure that would have reinstated a local share tax on casino revenues, a Pennsylvania legislator is advising potentially worried municipalities that they need not panic. A measure passed in 2006 mandated that the eastern state’s twelve casinos...
On Friday, the United States Internal Revenue Service filed a notice of federal tax lien against Hong Kong Entertainment (Overseas) Investment Ltd. The company is the owner of the Tinian Dynasty Hotel & Casino and reportedly, have not paid their taxes for the 2015 to 2016 time frame. The...