Singapore Balances Gambling Industry With Sustainable Tourism

Singapore Balances Gambling Industry With Sustainable TourismThe wealthy Asian city-state of Singapore has taken steps to balance the economic profits derived from its casino market with any potential social costs, by further linking casino operator licenses to how well they  develop their unrelated gambling attractions.
In the past, measures the casino operators have taken to develop their non-gambling related tourism include the addition of high-end hotels and restaurants, as well as theme parks, theaters, museums and boutiques.
These are all seen as ways to protect Singapore from the adverse effects related from gambling while sustaining a healthy tourism sector. As Genting chairman Lim Kok Thay, elaborates: “The domestic market.. will be sustained by inflow from the foreign players. As we open more facilities, that will give us an edge in marketing overseas and in telling the world we are not just a gaming resort, but we have other things for families to do. It does help us in our gaming revenue.”
Now, further proposed amendments to the Casino Control Act are expected to pass into law soon. These include even more stringent rules for Singapore’s two casino operators, Las Vegas Sands Corp and Genting Singapore Plc, as well as tougher fines for non-compliance. Measures to ensure the social costs of gambling are kept to a minimum include native residents paying a casino entry fee of S$100 a day.  Furthermore, whereas at present there is a cap on casino fines of S$1 million, the new rules could see a casino penalized 10% of its yearly gross gaming revenue, which could potentially cost the casino around S$200 million.
Explaining Singapore’s casino market strategy further, Yap Wai Ming from Stamford Law Corp said: “It is timely that the legislation be reviewed and further tweaks be made to ensure that the objectives of setting up the integrated resorts are achieved. They have already invested billions of dollars and the casinos are still generating very healthy profits despite the enforcement actions.”

Other news:   Multi-state online poker compact bill introduced in Pennsylvania

Poker News
Japan Introduces Responsible Gambling Bill
28 May 2018
Japan’s bicameral legislature, known as The National Diet, consists of an upper House of Councillors and a lower House of Representatives, with the latter having started discussing the Integrated Resorts Implementation Bill last week. Being debated is the regulatory framework required in order to set up an efficient and well functioning casino market in the
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Virginia Poised For Historical Gambling Expansion
11 May 2018
Virginia is among the country’s more conservative states when it comes to gambling, and for many decades has resisted the allure and revenues that the industry might bring. In the 1990s, for instance, its legislature turned down a push for riverboat gambling, and the following decade Internet gambling cafes were outlawed. For the past five