Manila Casinos Taking on Singapore Hinges on Tax

Bloomberg – Macau casino mogul Lawrence Ho said gambling revenue in the Philippines “could easily” double to $4 billion in a couple of years, setting the stage to challenge Singapore as Asia’s second-biggest gaming hub. To ensure success, the Philippines will have to decide how to tax casino developers and operators, Melco Crown Entertainment Ltd. (MPEL) co-Chairman Ho said in an interview in Manila yesterday. In April, the nation’s tax bureau ordered all casino operators to pay income tax on their gaming earnings, removing an exemption provided for by the licenses given to four operators developing casinos in the capital….