Singapore’s government has extended the exclusivity period granted to Las Vegas Sands’ Marina Bay Sands (MBS) and Genting Singapore’s Resorts World Sentosa (RWS), enabling the two integrated resorts to dominate the market until 2030. The government also allowed the two casinos to expand their gaming floors, with MBS and RWS getting an additional 2000 square meters and 500 square meters, respectively. However, these concessions come with a steep rise in gambling taxes. The current 5% tax on VIP gambling revenue will rise to 8% on the first S$2.4b of gross gaming revenue, while mass gaming revenue’s current 15% tax rate will rise to 18% on the first S$3.1b.
‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌