Is this revenue worth the social risk and problems?
Casino entry level fees collected by the government in the past 18 months reached S$288 million, Minister of State for Finance Josephine Teo said on Tuesday.
Used to fund social and charitable causes, the levies amounted to $93 million in the first six months of this year and $195 million over the whole of last year.
A daily entry levy of $100 and annual entry levy of $2,000 is imposed on Singaporeans and permanent residents seeking to enter the casinos.
Speaking at Parliament in response to a question over casino levies and taxes, Teo said the amount channeled by the government specifically to tackle gambling social ills has increased from $3.8 million in 2009 to $9 million last year.
Teo also indicated that profitable casino-resorts in Singapore have provided a bonanza in tax revenues to the Singapore government in the past two years.
The minister disclosed that tax revenues from the integrated resorts experienced a net increase of $900 million in 2010 and $1.1 billion last year.
"Through these (tax revenues) the government is able to provide support and care to many Singaporeans," she said.
Marina Bay Sands, operated by Las Vegas Sands Corp, and Resorts World Sentosa, run by Genting Singapore, opened in 2010 and have been raking in hundreds of millions in revenues per quarter.
More social safeguards and tighter rules for casinos
http://www.knowtheline.sg/draw-the-line/casino-exclusion-measures.html
I really hope They are satisfied with such earnings!
Casino entry level fees collected by the government in the past 18 months reached S$288 million, Minister of State for Finance Josephine Teo said on Tuesday.
Used to fund social and charitable causes, the levies amounted to $93 million in the first six months of this year and $195 million over the whole of last year.
A daily entry levy of $100 and annual entry levy of $2,000 is imposed on Singaporeans and permanent residents seeking to enter the casinos.
Speaking at Parliament in response to a question over casino levies and taxes, Teo said the amount channeled by the government specifically to tackle gambling social ills has increased from $3.8 million in 2009 to $9 million last year.
Teo also indicated that profitable casino-resorts in Singapore have provided a bonanza in tax revenues to the Singapore government in the past two years.
The minister disclosed that tax revenues from the integrated resorts experienced a net increase of $900 million in 2010 and $1.1 billion last year.
"Through these (tax revenues) the government is able to provide support and care to many Singaporeans," she said.
Marina Bay Sands, operated by Las Vegas Sands Corp, and Resorts World Sentosa, run by Genting Singapore, opened in 2010 and have been raking in hundreds of millions in revenues per quarter.
More social safeguards and tighter rules for casinos
http://www.knowtheline.sg/draw-the-line/casino-exclusion-measures.html
I really hope They are satisfied with such earnings!
