Integrated resorts in the Entertainment City are proving themselves to be the country’s biggest players, particularly in terms of local taxes.
The 120-hectare Philippine Amusement and Gaming Corporation’s (Pagcor) development project is located in the city of Paranaque, and the local government said operators of the recently-opened City of Dreams Manila and the Solaire Resorts and Casino led the city’s list of top taxpayers in 2015, the Philippine Star reported.
According to the news outlet, Belle Corp. topped the city’s list after remitting a total of PHP 135.9 million (US$2.86 million) in real property tax last year.
Belle Corp.’s principal assets include properties at the Pagcor Entertainment City, which are being leased on a long-term basis to Melco Crown Entertainment. The 6.2 hectares of land is the site of the City of Dreams Manila, which opened to public on February 2, 2015.