1. Date of Report (Date of earliest event reported)
Sep 5, 2016
2. SEC Identification Number
3. BIR Tax Identification No.
4. Exact name of issuer as specified in its charter
Bloomberry Resorts Corporation
5. Province, country or other jurisdiction of incorporation
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
The Executive Offices, Solaire Resort & Casino, 1 Asean Avenue, Entertainment City, Barangay Tambo, Parañaque City Postal Code 1701
8. Issuer's telephone number, including area code
(02) 883-8920
9. Former name or former address, if changed since last report
Unit 601 6th Floor Ecoplaza Bldg. Chino Roces Avenue Ext. Makati City
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Unclassified Shares, P1.00 par value 11,001,717,025
11. Indicate the item numbers reported herein
Other events

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Bloomberry Resorts CorporationBLOOM

PSE Disclosure Form 4-26 - Legal Proceedings References: SRC Rule 17 (SEC Form 17-C) and
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

The Supreme Court granted the certiorari petition of Bloomberry Resorts & Hotels Inc. (an indirect subsidiary of Bloomberry Resorts Corporation) against the imposition of corporate income tax by the Bureau of Internal Revenue (BIR) on BRHI as a licensed casino operator of the Philippine Amusement and Gaming Corporation (PAGCOR).

Background/Description of the Disclosure

Bloomberry Resorts and Hotels Inc. (BRHI) received today, 5 September 2016, a copy of the decision of the Supreme Court dated 10 August 2016 granting BRHI's certiorari petition against the BIR on the imposition of corporate income tax on income from gaming operations of BRHI as a casino duly licensed by the PAGCOR, under Revenue Memorandum Circular No. 33-2013 issued by then Commissioner Kim Henares.

Name of the court or agency in which the proceedings are pending Supreme Court
Date Instituted Jun 4, 2014
Docket Number G.R. No. 212530
Principal Parties

Bloomberry Resorts and Hotels Inc. vs. Bureau of Internal Revenue, represented by Commissioner Kim S. Jacinto-Henares

Nature and description of the legal proceedings

The Supreme Court in a decision dated August 10, 2016, but only released today (September 5, 2016), has ordered the Bureau of internal Revenue (BIR) to cease and desist from imposing corporate income tax on income from gaming operations of casinos duly licensed by the Philippine Amusement and Gaming Corporation (PAGCOR). The High Court granted the certiorari petition of Bloomberry Resorts & Hotels Inc. against the BIR. Bloomberry, the casino operator in Solaire Resort & Casino filed the petition in 2014 to nullify the provision of Revenue Memorandum Circular (RMC) No. 33-1013 issued by then BIR Commissioner Kim Henares in 2013 which imposed corporate income tax on casinos.

The Supreme Court affirmed Bloomberry's argument that as contracting party of PAGCOR, it was subject only to the 5% franchise tax on its gross gaming revenue, in lieu of all taxes, as provided under Section 13(2) of Presidential Decree No. 1869 (the PAGCOR Charter). The Court cited its en banc decision in PAGCOR v. The Bureau of Internal Revenue, GR No. 215427, dated December 10, 2014.

The effect(s) on the Issuer's business or operations, if any

This Supreme Court decision will allow PAGCOR and BRHI as an integrated casino resort to revert to the original license fee structure of 15% and 25% license fee (inclusive of the 5% franchise tax) for high rollers/junket and mass gaming respectively.

Other Relevant Information


Filed on behalf by:
Name Silverio Benny Tan
Designation Corporate Secretary