According to reports in The Manila Times this week, taxes in the Philippines are exacerbating the impact on the lockdown of gambling companies.
The Philippine Amusement and Gaming Corporation (PAGCOR), which is state-operated, issued the warning after two companies, including one part of the Suncity group closed down.
Apart from the junket operator, Don Tencess Asian Solutions had also cancelled its licence. PAGCOR suspended the operations of Filipino offshore gaming operators when the lockdown began but when they were permitted to reopen on May 1, the government said that they could not resume business until they had settled their tax liabilities.
PAGCOR assistant vice president for offshore gaming licensing, Jose Tria, told the newspaper that 13 service providers had closed down in face of the franchise tax payment demanded by the government and high overheads.
At the same time, PAGCOR said that casinos in the country had recorded GGR of US$912.6m in the first quarter of the year, a 13.6 per cent drop.
