Reports
SOUTH EAST ASIA - THE PHILIPPINES
CASINOS 21
CASINO SLOTS 17,908
CASINO TABLES 1,888
CASINO REVENUE P112.1bn
EGM SITES REVENUE P21.1bn
ONLINE GAMING Permitted under new law
In 2007, PAGCOR was permitted 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.
plus indoor beach and nightclub in a huge dome called Cove Manila. Te project is also known as Okada Manila and is being run by a company controlled by Japanese gaming businessman Kazuo Okada.
It is a $2bn project which missed an earlier deadline in 2015 and has since been given more time to complete. Te opening of the property, hotel and food, drink outlets. Last year PAGCOR fined Tiger $2.2m and threatened to suspend its permit citing delays in the casino project.
RESORT WORLD MANILA Resort World Manila was born with a bid to
boost tourism figures. In June 2008 AGI, through Travellers International Hotel Group (a joint venture between Genting Hong Kong and Alliance Global Group), received the first provisional licence from PAGCOR to develop a gaming project.
Te first project was Resort World Manila which is the Philippine’s first integrated tourism estate
P66 NEWSWIRE / INTERACTIVE /
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and opened back in August 2009. Resorts World Manila is a US$700m luxury casino resort located on an 11.5 hectare site in Newport City, the first tourism economic zone in the Philippines, and just across from Terminal 3 of the Ninoy Aquino Airport.
Resort World Manila has four hotels – the five star Marriot Hotel Manila; the six star casino hotel Maxims Hotel; the budget Remington Hotel and the Belmont Hotel. Two more hotels – Sheraton and Hilton – are under construction. Tere is also the Newport Mall including games arcade GameZoo, 3D cinemas, 50 plus restaurants and a 1,500 seat theatre.
Te resort also inaugurated the Newport City Transport Terminal which provides round the clock access to and from the airport terminals as well as to various parts of metro Manila and neighbouring provinces.
Te casino is 13,167 sq.m in size and has 311 tables, 210 electronic table games and 1,800
slots over three floors and includes a VIP room and junket rooms.
Net revenues for Resorts World Manila in 2015 were P24.6bn of which P24.2bn came from the gaming sector. Te resort sees around 18,000 visitors per day.
Te company is subject to gaming and VIP tax of 25 per cent and 15 per cent respectively, in lieu of all taxes, in reference to the GGR. Tis changed in 2014 and PAGCOR reduced the rate to 15 per cent and five per cent respectively and 10 per cent of the licence fee was allocated for income tax on gaming.
THUNDERBIRD FIESTA RESORTS Tere are two Tunderbird casino resorts one in
Poro Point and a second in Rizal. Poro Point overlooks the West Philippine Sea and is based on a 65 hectare site with a Mediterranean theme with five star accommodation. Te Fiesta casino has 28 tables and 291 slots.
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