City Of Dreams

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Posted

Hi everyone

 

 

Will James Packer's City of Dreams casino be good for the Philippines or will it just bring more decadence to Manila?

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Posted

Good question.

It will provide service jobs for a number of local Filipinos along with some tax revenue. 

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Posted

with some tax revenue.

 

 Now there is a debatable Phrase  :rolleyes:  A good CPA (Accountant) will soon have that Offset, along with the Bogus workers. :hystery:

 

 I say this as because a Cleaning Company here in Dumaguete was Reported as Registering more Workers than they had, yet the wages were allocated.  :unsure:  Now I wonder where they went  :rolleyes:

 

JP :tiphat:

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Posted

I think it will be good, more tourists, high flyers and money coming in.

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Posted

I think it will be good, more tourists, high flyers and money coming in.

 

With the profits going to Australia (like the electric company owned by Indonesia). It will bring in some from Hong Kong because Macau has put in restrictions but it will hurt the poor who have this dream of winning with the 200p in their pocket.

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Posted

 

with some tax revenue.

 

 Now there is a debatable Phrase  :rolleyes:  A good CPA (Accountant) will soon have that Offset

Sure most of, but IF it's checked they at least need to pay the taxes and fees for the employed,

plus MINIMUM 2 % of the REVENUE !          These 2 % have to be paid by companies who CORECT LOSE money too !!!  which is rather common when companies are in the start phase and need the money the most   :1 (103):

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Posted

 

I think it will be good, more tourists, high flyers and money coming in.

 

With the profits going to Australia (like the electric company owned by Indonesia). It will bring in some from Hong Kong because Macau has put in restrictions but it will hurt the poor who have this dream of winning with the 200p in their pocket.

 

 

I doubt if many that have P200 will be even considering the casino. What you got to think of is the ongoing benefits to the Philippines and its people. Jobs not just at the casino but like airlines, suppliers of food for the restaurants, delivery drivers, taxis, hotel workers. This list goes on and on. I have no idea of the structure of where profits of the casino go but a lot of locals will reap some rewards associated with having it there.

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Posted (edited)

I deplore this - it will bring in the wrong sort of foreigners (Chinese gangsters and politicians), it will encourage prostitution and other forms of undesirable behaviour and it will pay very little tax whilst generating very little employment.

Some of the cash washing around will be diverted to further political corruption, of which there is no shortage...

Anyone who thinks that casinos are desirable need only visit Macau.

Sent from my iPhone using Tapatalk

Edited by Methersgate
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Posted

We plan on going next week its very near the S&R we shop at, I'll let you all know how it is. I have already seen "City of Dream" busses plying around the city picking up folks from the subdivisions. Lots of retired folks go there spending their kids inheritance :mocking: .

 

As to your fears Meth, my gut feeling is that this casino will not cause a lot of problems. It is located near Mall of Asia and the other new casino Solaire. It is located in a new area of town called Aseana (reclaimed from Manila Bay) with lots of new office parks and upscale hotels. They have done a very good job keeping the squatter and such away from the area.

 

Anyway I'll report what I find :cheersty:

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Posted (edited)

I will say that I do not like Casinos at all. They do no good, and they do harm in all sorts of ways.

The real reason for the interest in casinos in the Philippines is because the PRC Government is "cracking down" on Macau, which has become not just an open scandal but a serious problem for China.

It is a serious problem because of the ease with which a casino can be used for money laundering.

Now. I ask everyone who reads this to think carefully about the state of money laundering regulation in the Philippines...

This is a country where, thanks in no small measure to "Saint" Miriam Santiago, who lived in a bungalow near UP until her husband became Director of Customs, and who now lives as a neighbour of ex-President Arroyo, ina rather expensive gated community, nobody is obliged to make public or to declare the contents of their foreign currency bank accounts.

Yes, you did just read that right.

The Philippines is potentially the money laundering capital of the world, with all that implies for Russian and Chinese gangsters and Latin American drug barons.

And China is closing down the money laundering operations in Macau...

Add to this the well known social problems associated with casinos and ask yourselves - do we really want this?

What good will it do, and what harm will it do?


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Edited by Methersgate
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