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 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...
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...
In New York, four new casino resorts are set to begin operations from as early as next week amid criticism that previously agreed arrangements with local governments will see a trio of the properties benefiting from lucrative sales, mortgage and property-tax breaks. According to a report from the Democrat And...
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,...
The Tigre de Cristal was the first casino to open in Russia’s Primorye Integrated Entertainment Zone, a special economic zone created by the government for the casino industry. Hong Kong based Summit Ascent Holdings which is the majority shareholder in the casino recently reported that the casino had generated...
In Russia, the Ministry Of Finance has published proposed amendments for the nation’s gambling laws that could see bookmakers and tote operators required to hand over a significant portion of their quarterly proceeds for the development of sports. According to a report from Asia Gaming Brief citing Russian news outlet...
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...
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...