TJ Palanca: On the News: The Philippines is hitting the

Gaming instinct: Growing casino industry in Philippines. By: Ma. It’s not stretching things too far to say this market could be doing $1.8 billion in gaming revenue by 2013, even without Philippines Opening $1 Billion Casino-Resort This Weekend Studies project the country's gambling revenue of $1.9 billion will rise to $6 billion in five years. Gross online casino revenue in Denmark 2012-2019 Online gambling and betting: quarterly e-commerce revenue in Spain 2013-2019 Europe: online and offline gross gambling revenue (GGR) 2003-2023 The Philippines missed its gaming revenue estimate by 12 percent in 2013 as it took a hit from lower-than-expected tourist arrivals from mainland China and Hong Kong due to a territorial conflict On the News: The Philippines is hitting the jackpot, and the cash is here to stay. This week in news: The Philippines posts large gaming revenue gains from recent resort and casino developments along Manila Bay, and the risk of capital flight remains relatively low amid prudent government finance and capital controls. Ranked as the Philippines’ third-richest person with a net worth of $4.4 billion according to Forbes, Razon opened the $1.2 billion Solaire by the azure waters of Manila Bay in 2013. Philippine casinos generated PHP152.55 billion ($2.92 billion) in land-based gross gaming revenue (GGR) during 2017, an increase of 13.8 percent compared the previous year. The casino gross gaming revenue (GGR) grew markedly from ₱41.63 billion (US$0.88 billion) in 2008 to ₱152.46 (US$3.02 billion) as of end 2017. 5 In a 2013 ruling, the Supreme Court upheld the exemption of PAGCOR, its contractees and licensees from the corporate income tax of 30 percent as income from gaming operations is only subject to the 5% franchise tax under Presidential Decree 1869.6

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