Singapore’s two casinos have been given the green light for major expansion but also imposed higher taxes on gambling revenue and boosted casino entry levies by 50%.
On Wednesday, Singapore’s government announced plans to extend the exclusivity period granted to the city-state’s two integrated resorts (IR), Las Vegas Sands’ Marina Bay Sands (MBS) and Genting Singapore’s Resorts World Sentosa (RWS). The two IRs will now have the market all to themselves until at least 2030.
The two IRs have also been granted permission to expand their gaming floors beyond their current 15k-square-meters apiece. MBS has been okayed to expand its Approved Gaming Area (AGA) by an additional 2k-square-meters, on which it can place an additional 1k gaming machines. RWS was granted a smaller expansion, an additional 500-square-meters to accommodate another 800 machines.
The government said it was granting these perks to the IR operators based on their “substantial investment” to date and to ensure “business certainty” for their operations going forward. On top of the total S$15b (US$11.1b) the two operators initially invested to build their properties, they have now committed an additional S$9b ($6.65b) toward non-gaming amenities to boost tourism.