Casino levy hike a welcome move, but more effort needed to curb addiction
EARLIER this month, the Singapore government increased the casino entry fees for citizens and permanent residents by 50 per cent to S$150 for the 24-hour daily levy (up from S$100), and S$3,000 for the annual levy (from S$2,000). The surprise announcement was made on the evening of April 3, with the new amounts kicking in just hours later at the stroke of midnight.
It is the first time that the levies have gone up since the two integrated resorts - Marina Bay Sands (MBS) and Resorts World Sentosa - opened in 2010. The higher charges are meant to deter casual and impulse gambling by locals, said the Ministry of Home Affairs and the Ministry of Social and Family Development. The fee hike was determined after the authorities looked at the state of the problem gambling situation, household income levels, and the cost of visiting alternative gambling locations in the region.
While it is not possible to eradicate gambling addiction entirely, the statistics show that problem gambling here is under control. According to the two ministries, local visitorship to the two casinos has declined significantly over the last decade. At MBS, for instance, the number of locals frequenting its casino each year has fallen by 50 per cent since 2010.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access