The Commonwealth Casino Commission determined that an increase in rebate for VIP players at the Saipan casino would increase revenues and tax collected, in approving a rebate increase earlier this month from 1.4 percent of amount rolled to 1.8 percent.<\/p>\n
According to commission executive director Edward Deleon Guerrero, the rolling chip rebate program is considered a marketing cost, an expense that is deductible from tax obligation.<\/p>\n
\u201cThe more you raise the rolling chip [rebate] the more you will offset your tax liability at the end of the year because it is subject to deductions,\u201d Guerrero said.<\/p>\n
\u201cThey\u2019re [Best Sunshine International, Ltd.] explanation is that our volume would go up because of the encouragement of the market is higher. People would come out here because we offer very high\u201d rebates.<\/p>\n
Still, from the commission\u2019s point of the view, Guerrero said, the question was: would it increase the revenue?<\/p>\n
Guerrero said the answer was yes.<\/p>\n
\u201cBefore we approved it\u2026we ran a couple of numbers. If you were to pay [a rebate] at 1.4 percent, 1.5 percent, all the way up to 2 percent, what would be tax implication at the end of the year?<\/p>\n
\u201cAnd our calculations are that we would come out better at the end of the year. So…it will be a better overall tax, both on a monthly basis versus the end of the year<\/p>\n
This would happen even if the rebate was tax deductible, Guerrero said, \u201cbecause the volume would increase,\u201d or the number of players are expected to increase.<\/p>\n
The commission approved on April 5 the casino\u2019s rebate matrix for the casino rolling chip program.<\/p>\n
Under the matrix, for example, if a player played between $20,000 and $500,000 the cash rebate offered to player would be 1 percent of the amount rolled. If a player rolled $500,000, the player would get one percent.<\/p>\n
Under the matrix, if you play $5 million or more, the player gets 1.3 percent rebate.<\/p>\n
The Saipan casino requested the commission to increase the \u201cceiling\u201d from 1.4 to 1.8 percent rebate, which was approved.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Commonwealth Casino Commission determined that an increase in rebate for VIP players at the…<\/p>\n","protected":false},"author":47,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[256,3339,67,4139],"class_list":["post-225575","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-casino","tag-edward-deleon-guerrero","tag-people","tag-vip"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/225575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/47"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=225575"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/225575\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=225575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=225575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=225575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}