Monday, February 27, 2012

Genting SP

Genting SP: the govt is reviewing the Casino Control Act that regulated the two IRs here and hopes to disclose more details in 2H12. The review will look into the economic, security, and social issues.

Some safeguards that were being worked on, include expanding third-party casino exclusions, as well as introducing circuit breakers found in overseas casinos that imposes time limits and spending limits to help financially strapped gamblers with poor self-control. These ideas may be rolled out over the next few months.

On raising casino entry levies on Sporeans and PRs, the govt noted that may not be an adequate brake on gambling rates. Business Times reported that the two IR operators have a contractual agreement with the govt that entry levies would not be raised for 10 years, which should put to rest previous fears that this policy may be suddenly revised.

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