247.com Reports
SOUTH EAST ASIA - THE PHILIPPINES
PAGCOR’s income is distributed with five per cent of winnings going to the BIR as franchise tax; 50 per cent of the balance goes to the National Treasury; five per cent of the balance then goes to the Sports Commission and one per cent of the net income goes to the Board of Claims. Cities hosting PACOR casinos also received a fixed amount for community projects.
In 2007 as the licence was extended it also permitted PAGCOR to enter into agreements such as joint ventures. Te company is the government’s third largest source of revenues and recorded P32.7bn in assets in June 2016 and P18.1bn in liabilities. In 2015 the company collected P47.2bn in total revenues, an increase of P7.2bn on the previous year, of which P43.3bn was income from gaming operations. From this amount some P22.8bn went to the government as contributions and net profit was P3.8bn.
PAGCOR’s income is distributed with five per cent of winnings going to the BIR as franchise tax; 50 per cent of the balance goes to the National Treasury; five per cent of the balance then goes to the Sports Commission and one per cent of the net income goes to the Board of Claims. Cities hosting PACOR casinos also received a fixed amount for community projects.
In July actor and TV host Arnell Ignacio, who has been a vocal supporter of President Duterte, was appointed assistant vice president for the Community Relations and Services Department at PAGCOR. Te PAGCOR casinos are:
Casino Filipino Malate is located in the tourist
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district of Manila in the Hyatt Hotel. It was opened in 1994 and has three floors of gaming with tables and slots.
Casino Filipino Pavilion is also in Manila and is the premiere casino for PAGCOR opened 25 years ago in the Pavilion Waterfront Hotel. It has three floors of gaming with VIP room. Gross total rake collections for this casino in 2015 were P16.8m.
Casino Filipino Angeles is a themed casino based on Kamampangan folklore located in Pampanga province. It is set on three storeys offering table games, slots and bingo. It has been based at Cauayan Isabela after the eruption of Mount Pinatubo led to its relocation in 1992. It was housed in a new building in 2003. Tere are 489 slots in total. Gross total rake collections for this casino in 2015 were P26.2m.
Casino Filipino Bacolod is located in a Spanish era inspired hotel in the heart of Goldenfields Commercial complex. It began operation 26 years ago. Tere are 264 slots in total, table games and bingo.
Casino Filipino Cebu is in Cebu city and is a
primary destination for around 35 per cent of foreign visitors. Te casino is located in the castle-like Waterfront Cebu City Hotel was one of the first themed casinos in the Philippines and is based on the 19th century era. Tere is 41,000 sq.m of gaming divided into three areas and a total of 737 slots.
Casino Filipino Davo is the biggest city in terms of land area and home to Mount Apo. Te casino is in the Grand Regal Hotel in Lanang. Tere are 15 table games and slots.
Casino Filipino Laoag – is one of the most beautiful casinos in the Fort Ilocandia Resort Hotel in Laoag City, a resort know for its sandy beaches and is a favourite with players from Hong Kong and Taiwan. Tere are 14 VIP rooms with different themes and 136 slots in total.
Casino Filipino Olongapo is based in the Olongapo city with its array of bars, duty free, golf course and restaurants the casino is found in the heart of the entertainment district. Gross total rake collections for this casino in 2015 were P9.3m.
Casino Filipino Tagaytay is in the city Tagaytay
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