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