Singapore casinos experience bad results
Singapore casinos have contributed with the lowest levies during last fiscal year.
Singapore.- The Government of Singapore has received the lowest casino levies during last fiscal year, according to an official statement. Gaming operators contribute with the Singaporeans and permanent residents (PR) with regular payments under the country’s casino laws to develop the local economy.
With the opening of the casinos at Resorts World Sentosa and Marina Bay Sands in 2010, authorities approved the regulation demanding monthly casino payments. As revealed by the Singapore Totalisator Board (Tote Board), the last financial year represented the lowest levies achieved by the government in relation to casino activities.
Casino operators contributed with US$134 million in casino entry levies in its last financial year. The results represents a decline of 21 percent from the US$170 million collected in financial year (FY) 2012/2013. “Singaporeans and PRs have to pay a $100 daily levy or $2,000 annual levy to enter a casino here,” explains the statement.
Economist Song Seng Wun said: “The shine of the casinos and the novelty have worn off.” And added: “It’s a routine for many people to buy 4-D regularly to try their luck. And you see more people joining the queue to buy 4-D and Toto.” However, the casino numbers showed that Singaporeans prefer other forms of entertainment.
