The Macau Metro Monitor, January 8, 2013
SINGAPORE UPS ANTE FOR CASINO FIRMS WITH NEW RULES, BIGGER FINES Reuters
Amendments to the Casino Control Act cleared parliament late last year and now await formal passage into law, giving the operators of Marina Bay Sands and Resorts World Sentosa little choice but to adapt to the new rules - including fines of up to 10% of gaming revenue - and the costs of compliance.
The operators, which have been fined for admitting minors and failing to collect the levy for the government, will face a maximum penalty of 10% of annual gross gaming revenue. The current cap on fines is S$1 million but, if fully enforced, the new ceiling could be closer to S$200 million. A panel will also be set up by the trade ministry to help the Casino Regulatory Authority determine how attractive the resorts are as tourist destinations - an assessment that will apply to the renewal of their casino licenses from January 2015.
MAINLAND'S LOTTERY MARKET SETS NEW RECORD Macau Business
The mainland’s lottery industry hit a new annual revenue record last year, of RMB262 billion (MOP336 billion). That is above Macau’s casino gross gaming revenue for the same period. Full-year revenue from the mainland’s Welfare Lottery and Sports Lottery went up by 12% YoY in 2012, with the growth rate slowing down from the 18% recorded in 2011, government agencies said.