A remarkable amount of S$93 million ($73 million) has been generated as the entry levies collected from the locals who visited the two casinos of Singapore in the first half. This information was made available by the Minister of State for the Finance Ministry, Josephine Teo. The Minister informed the Parliament that the previous year recorded a collection of S$195 million from the permanent residents. She said Genting Singapore Plc (GENS) and Las Vegas Sand Corp. (LVS) paid revenues to the tune of S$900 million in 2010 and S$1.1 billion during the next year. In response to a query from a lawmaker, Teo said that the casino operators earned huge amounts and also made great contributions to the State revenues that were utilized for many welfare schemes and expansion of Singapore resources.
The Minister added that the government is obtaining public opinion to reorganize the Casino Control Act with greater control upon crime, improvement in tax administration and social safeguards. Limits on the frequent visits of the financially sound persons are planned and maximum fine on the defaulter casinos is also in the pipeline. Teo said that during the last two years, almost double the amount has been spent to check problem gambling. She informed the Parliament that approx 93,000 persons, listed on the exclusion list are barred from visiting these two casinos. The high-frequency gamblers, i.e. the persons with about six to ten monthly casino visits are approx 4,000 to 6,000. With a view to strengthen tourism, the four-decade ban on the casinos was lifted by the island-city. Genting Singapore and Las Vegas Sands invested more than $10 billion on the two gaming resorts that came into existence in 2010 when number of visitors, their spending and gross domestic product growth touched record heights.
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