SINGAPORE: The Government saw a net increase in betting tax and GST revenue of S$420 million with the entry of the Integrated Resorts (IRs) between April and November last year.
Separately, the net increase in casino entry levies collected by the Totalisator Board (Tote Board), with the entry of the IRs, was about S$130 million over the same eight-month period.
However, responding
in Parliament on Tuesday, Second Minister for Finance Lim Hwee Hua said:
"While the IRs have brought in new revenues, collections from other
gaming activities such as lotteries, horse and sports betting and fruit
machines operated by clubs have fallen".
The collections from the Tote Board will go towards funding activities benefiting the community.
These range from educational and health programmes, to sports and the arts & culture.
Some
of Tote Board's ongoing commitments include the Tote Board Social
Service Fund, the Tote Board Community Healthcare Fund, the Yellow
Ribbon Project and the Community Chest.
Meanwhile, revenues collected by the Government from the IRs will flow into the Consolidated Fund.
Mrs
Lim said the fund is not earmarked for specific purposes, but go
towards funding of the Government budget as a whole, allowing
flexibility to channel funds to areas with the greatest needs.
-CNA/wk
confirm one
4D & TOTO outlet queue length is no more e old days le
casino entry levies collected was about S$130 million over the eight-month period
tats $16.25 m a month by 162,500 singaporean ?