Singapore gives green light for casino floor expansion but…

Singapore’s government has extended the exclusivity period granted to Las Vegas Sands’ Marina Bay Sands (MBS) and Genting Singapore’s Resorts World Sentosa (RWS), enabling the two integrated resorts to dominate the market until 2030. The government also allowed the two casinos to expand their gaming floors, with MBS and RWS getting an additional 2000 square meters and 500 square meters, respectively. However, these concessions come with a steep rise in gambling taxes. The current 5% tax on VIP gambling revenue will rise to 8% on the first S$2.4b of gross gaming revenue, while mass gaming revenue’s current 15% tax rate will rise to 18% on the first S$3.1b.
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Singapore allows casinos to expand while hiking taxes and fees
Everything comes with a price

The Story

Singapore’s government has extended the exclusivity period granted to Las Vegas Sands’ Marina Bay Sands (MBS) and Genting Singapore’s Resorts World Sentosa (RWS), enabling the two integrated resorts to dominate the market until 2030. The government also allowed the two casinos to expand their gaming floors, with MBS and RWS getting an additional 2000 square meters and 500 square meters, respectively. However, these concessions come with a steep rise in gambling taxes. The current 5% tax on VIP gambling revenue will rise to 8% on the first S$2.4b of gross gaming revenue, while mass gaming revenue’s current 15% tax rate will rise to 18% on the first S$3.1b.

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PRESS RELEASE

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SHOUT OUT
Congratulations to Jonathan Little, Brad Owen, Johnnie Moreno, and Lex Veldhuis for being considered for the People’s Choice Award at the Global Poker Awards! The awards ceremony will be held on Friday.
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