• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Not right time for gaming tax in Saipan: regulator

Jul 14, 2016 Newsdesk Latest News, Top of the deck, World  


Not right time for gaming tax in Saipan: regulator

Representatives of the Commonwealth Casino Commission on Saipan say that imposing an additional tax on the local casino industry – in the form of a 10 percent tax on casino gaming revenue – would not be appropriate at present, reported the Marianas Variety newspaper.

Hong Kong-listed Imperial Pacific International Holdings Ltd has the exclusive right to a casino licence on Saipan, the main island of the Commonwealth of the Northern Mariana Islands. The firm has been operating a temporary casino (pictured) on Saipan via a local unit called Best Sunshine International Ltd.

In a meeting with members of the House of Representatives on Tuesday, representatives of the Commonwealth Casino Commission said Best Sunshine is already paying taxes, including an exclusive licence fee, gross revenue tax and other regulatory fees.

Representative Edmund S. Villagomez has proposed a 10 percent tax on casino gaming revenue on top of the business gross revenue tax the company pays, reported the Marianas Variety.

Best Sunshine’s temporary casino has achieved a monthly VIP table game rolling chip turnover average of US$2.25 billion in the first six months of 2016, according to regulatory filings by the parent company. The temporary casino’s unaudited VIP table games rolling chip turnover generated for June was US$1.66 billion.

The firm’s US$25-million temporary casino began operations in November. It had a total of 16 VIP gaming tables and 32 mass tables in the first quarter.

The Commonwealth Casino Commission executive director Edward Deleon Guerrero was quoted saying on Tuesday that given the taxes that Best Sunshine already pays and the size of its investment in Saipan, a 10 percent additional tax “may not be prudent at this time”.

“Let’s give them a year after the Grand Mariana is completed,” Mr Guerrero reportedly said, in a reference to the under-construction Grand Mariana Casino and Hotel Resort.

Best Sunshine started the construction of its US$500-million Grand Mariana casino resort in mid-2015. According to the firm, the venue will feature 350 hotel rooms, 15 villas, more than 200 gaming tables, 400-plus slot machines, several restaurants, a beach club and a night club.

The Grand Mariana is expected to open in the first quarter of 2017, according to earlier announcements by Imperial Pacific. But the property might open earlier, likely “at the end of this year”, Mark Brown, chief executive of Best Sunshine, told GGRAsia in an interview in May.


  • tweet
Related articles
  • Macau monthly gaming tax take rises to US$355mln in Nov
    Macau monthly gaming tax take rises to...

    Dec 18, 2020  

  • Japan PM tells lawmakers of commitment to casino policy
    Japan PM tells lawmakers of commitment...

    Oct 29, 2020  

More news
  • Face tech ATMs in mainland’s Zhuhai near Macau say reports
    Face tech ATMs in mainland’s Zhuhai...

    Jan 19, 2021  

  • Investors see 2H Macau gain, rebound 2022: Bernstein
    Investors see 2H Macau gain, rebound...

    Jan 19, 2021  


Latest News

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Face tech ATMs in mainland’s Zhuhai near Macau say reports

Jan 19, 2021  

Bank automated teller machines (ATMs) with facial recognition technology have been installed since Monday in some places in the mainland China city of Zhuhai, next door to Macau, according to several...
Read More
Investors see 2H Macau gain, rebound 2022: Bernstein

Investors see 2H Macau gain, rebound 2022: Bernstein

Jan 19, 2021  

MBS ArtScience Museum to host Star Wars exhibition

MBS ArtScience Museum to host Star Wars exhibition

Jan 19, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

"We forecast Grand Lisboa Palace will have EBITDA of HKD2.0 billion (US$260 million) with 330 tables by 2022, and HKD3.5 billion with 380 tables by 2023"

Credit rating agency Fitch Ratings




Most Popular

  • CNY 2021 unlikely to boost Macau casinos, say observersCNY 2021 unlikely to boost Macau casinos, say observers January 15, 2021
  • Casino op MGM China to pay most staff discretionary bonusCasino op MGM China to pay most staff discretionary bonus January 18, 2021
  • Mass market play record 65pct Macau GGR in 4Q: govtMass market play record 65pct Macau GGR in 4Q: govt January 15, 2021
  • Malaysia Covid outlook negative to Genting Bhd: Moody’sMalaysia Covid outlook negative to Genting Bhd: Moody’s January 15, 2021
  • Wakayama casino RFP deadline affirms still 2 suitorsWakayama casino RFP deadline affirms still 2 suitors January 18, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us