Alvin Tan on Gambling Duties Bill
An extension of the casino licence exclusivity period for Singapore’s two integrated resorts (IRs) is provided for in the Gambling Duties Bill which was debated in Parliament on Monday (Jan 10). The IRs were originally given a 10-year exclusivity period to give them some “business certainty” in recouping their large investments. In 2019, the Government said the period would be extended to the end of 2030, after the IRs committed another US$9 billion to build new world-class tourism and MICE facilities. Minister of State for Trade and Industry Alvin Tan told the House that both IRs are committed to their expansion plans, but have signalled potential disruptions given the impact of COVID-19. He said the full extent of the delays is not yet clear.
An extension of the casino licence exclusivity period for Singapore’s two integrated resorts (IRs) is provided for in the Gambling Duties Bill which was debated in Parliament on Monday (Jan 10). The IRs were originally given a 10-year exclusivity period to give them some “business certainty” in recouping their large investments. In 2019, the Government said the period would be extended to the end of 2030, after the IRs committed another US$9 billion to build new world-class tourism and MICE facilities. Minister of State for Trade and Industry Alvin Tan told the House that both IRs are committed to their expansion plans, but have signalled potential disruptions given the impact of COVID-19. He said the full extent of the delays is not yet clear.
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