Sanum Investments, a subsidy of Lao Holdings NV, which formerly managed the Savan Vegas Hotel and Casino located in the Savannakhet Province of Laos, has successfully argued its legal case against the government of Laos regarding its claim that its casino business was unjustly cancelled, reports the Straits Times. According to...
In Michigan, the Saginaw Chippewa Indian Tribe has announced that it has handed out just over $3 million to local schools and governments as part of the semi-annual distribution of net earnings from slots at its two area casinos. The federally-recognized tribe revealed that the distribution represents 2% of slot...
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...
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...
In Pennsylvania, legislators have adjourned for the remainder of the year without approving controversial legislation that would have legalized online gambling and reinstated a local share tax on casino revenues. A measure passed in 2006 mandated that the eastern state’s twelve casinos sacrificed 2% of their annual gross slot revenues...
Solaire Resort and Casino owner and operator Bloomberry Resorts Corp (BLOOM.PS) says that the Supreme Court of the Philippines has decided in its favor regarding a corporate tax imposed by the Bureau of Internal Revenue (BIR), according to GGRAsia. The tax dispute has to do with a 30 percent corporate...
As a result of the expected revenue from a Suffolk OTB casino being developed in the Marriott Hotel, a $4.4 million budget for 2017 has been proposed by Islandia officials. According to Islandia Mayor Allan Dorman, who spoke at a public hearing on Tuesday evening regarding the upcoming budget, the...
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...
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 city of Pittsburgh announced in early October that it had requested the Rivers Casino to voluntarily remit $10 million in gambling taxes. City officials stated that discussions between casino officials and city representatives were progressing well and that the Rivers Casino was open to the $10 million tax...