City of Dreams Manila’s reported layoffs has landed the casino in hot water with Philippine lawmakers.
Senator Miriam Defensor Santiago filed Senate Resolution 1520 on Aug. 19, in which she calls for an investigation “in aid of legislation” over reports that Melco Crown Philippines, which operates the casino resort, is suspending 100 workers amid profit losses that “widened” in June.
The casino operator’s filings with the Philippine Stock Exchange showed a consolidated comprehensive loss of P1.82 billion ($38.97 million) from April to June 2015, which is 27 percent higher than P1.43 billion ($30.62 million) from the same period last year.
“The losses were allegedly due to gaming tax and license fees; inventories consumed; employee benefit expenses; depreciation and amortization; other expenses; payments to the Philippine parties; interest expenses; other finance fees; and amortization of deferred financing costs,” the resolution stated.