In 15 days, Bloomberry revenue hits P578M
By Doris C. DumlaoGaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenue in the first 15 days of Solaire Manila Resort & Casino’s operations.
Gaming firm Bloomberry Resort Corp. chalked up P578.3 million in revenue in the first 15 days of Solaire Manila Resort & Casino’s operations.
Manila Electric Co., the country’s biggest power distributor, plans to invest P1.16 billion put up a new substation that will ensure adequate and reliable supply of power for the 120-hectare Entertainment City.
Gaming operator Travellers International Hotel Group Inc., a partnership between the groups of local retail tycoon Andrew Tan and the Genting group, has officially filed an application to conduct an initial public offering at the Philippine Stock Exchange.
Gaming operator Travellers International Hotel Group Inc., a partnership between the groups of local retail tycoon Andrew Tan and the Genting group, has officially filed an application to conduct an initial public offering at the local stock exchange.
What’s turning out to be a game changer for the country’s fledgling gaming industry—and not necessarily for the better—is a shift in the tax regime from the 5-percent franchise tax on gross gaming revenues to a 30-percent tax on net income. This is seen affecting the bankability of the industry especially as investors had come in on the assumption of a competitive cost structure versus regional gaming hubs.
Gaming stocks fell sharply Monday as the market weighed in risks of a change in tax regime arising from the loss of tax-exemption status by industry regulator Philippine Amusement and Gaming Corp. (Pagcor).
SM Prime Holdings Inc. president Hans Sy, the designated representative to the SM group’s public-private partnership (PPP) initiatives, did not realize that a lot of manual labor was required to participate in these auctions.
The local gaming unit of Macau’s Melco Crown group has obtained approval from the Securities and Exchange Commission to jack up its authorized capital stock ahead of a $400-million fresh equity offering plan.
The company supplying the majority of lotto terminals in Luzon on Tuesday accused the Philippine Charity Sweepstakes Office (PCSO) of “bending over backward” to accommodate a rival firm and renewing the latter’s contract without the benefit of a public bidding.
Gaming firm Pacific Online Systems Corp. got a two-year extension of its contract to lease its equipment to the state-run Philippine Charity Sweepstakes Office. In a disclosure, Pacific Online said an extension to the lease agreement, covering April 1 this year to July 31 2015, was signed this week. “Pursuant to its goal [...]
MELCO Crown (Philippines) Resorts Corp. (MCP), the backdoor listing vehicle for the local gaming operations of Macau’s Melco gaming group, plans to raise up to $400 million from a fresh equity offering.
President Benigno Aquino III opened a giant $1.2 billion casino on Saturday to kick off the Philippines’ high-stakes bid to join the likes of Macau and Las Vegas in an elite group of gaming destinations.
