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Massive revenue from the Integrated Resorts (IRs)

January 12, 2011 | Author: candyce | Posted in Anthropology Sociology, Consumer Guides, Economics, Entertaining

Integrated Resort in Singapore

REVENUE from the integrated resorts (IRs) between April and November last year may have hit about $420 million but collections from other gambling activities have fallen.

Second Minister for Finance Lim Hwee Hua said this in Parliament on Tuesday.

Levies charged for entry at the IRs raked in $130 million for the Totalisator Board during the same period in 2010.

They will go towards funding activities benefiting the community. Areas include education, health, sports and the arts.

Revenues collected by the Government from the IRs will go to the Consolidated Fund.

Mrs Lim said the fund is not earmarked for specific purposes. Instead, it goes towards funding the Government budget as a whole – this provides the flexibility to channel funds to areas with the greatest needs.

http://www.straitstimes.com/BreakingNews/Singapore/Story/STIStory_622860.html

Author: candyce

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