RWS & MBS casino tax revenue net increase at S$900m for FY10
The overall net increase in tax revenue from the casinos of Singapore's two integrated resorts (IRs) is about S$900 million for FY10, based on estimates from the Ministry of Finance.
SINGAPORE: The overall net increase in tax revenue from the casinos of Singapore's two integrated resorts (IRs) is about S$900 million for FY10, based on estimates from the Ministry of Finance.
For the first 10 months of FY11 - between April 2011 and January 2012 - the figure is also at about S$900 million.
Both amounts took into account the loss of tax revenues from the resultant decline of other gaming activities such as lotteries, horse and sports betting and fruit machines operated by clubs.
Acing Minister for Community Development, Youth and Sports Chan Chun Sing said this in a written parliamentary reply to Member of Parliament for Pasir Ris-Punggol GRC, Mr Gan Thiam Poh on Thursday.
Mr Gan wanted to know the total tax revenue generated by the two casinos.
He also asked about the total number of visitors who've visited the two casinos so far.
Mr Chan said the two operators recently released data showing that 136,434 unique local patrons visited the casino at Resorts World Sentosa (RWS) and 137,259 visited the casino at Marina Bay Sands (MBS) in 2011.
Taking into account an estimated 30 per cent overlap in local visitors between both casinos, the number of locals who have visited the IR casinos in 2011 is around 200,000.
Mr Chan said most locals, even if they patronise the casinos, do not appear to visit frequently.
However, there is a small group of frequent gamblers which the government is concerned about.
Mr Chan said his ministry is looking into introducing 'circuit-breakers' and expanding third-party casino exclusion for a small group of problem gamblers and financially-vulnerable local gamblers who visit the casinos frequently.
He said it'll also be studying responsible gambling practices in other casino jurisdictions, such as Holland, Austria and Australia.
It'll consult the IR operators and public on these measures.