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The
Business Times, 21 Apr 04
Casino likely to be run by private firm,
says Hng Kiang
Totalisator Board has no intention to expand operations
By Chuang Peck Ming
A PRIVATE company will probably run the casino that the government
is mulling over on one of Singapore's southern islands - if the go-ahead
for the casino is given.
'The casino ought to be run by a private operator,' Second Finance
Minister Lim Hng Kiang told Parliament yesterday. Replying to Amy
Khor (Hong Kah) during the debate on the Singapore Totalisator Board
(Amendment) Bill, he said the Totalisator Board 'has no intention
to expand its operations'.
The passing of the Bill yesterday paved the way for the Totalisator
Board to acquire Singapore Pools from Temasek Holdings, the Singapore
investment company. Singapore Pools is given the right by the government
to conduct 4D, Toto, Singapore Sweep and football betting. The Totalisator
Board itself operates 4D and betting on horse races. With the acquisition
of Singapore Pools, the board will hold the right to operate all legalised
gaming activities in Singapore.
If a private company is allowed to run the proposed casino, then Singapore
will for the first time open its gaming industry to private investors.
Vivian Balakrishnan, Minister of State for Trade and Industry, told
Parliament on Monday the government will decide on the casino in the
next six to nine months.
Yesterday, Dr Khor said the government's ownership of the lottery
and horserace-betting franchises has raised 'delicious' speculation
that it may also run or own part of the planned casino. A government
stake 'could well address some of the public concerns voiced over
the moral and social consequences of having a casino in Singapore',
she said.
Mr Lim did not say if the government would take a stake in any privately
run casino. But Dr Balakrishnan said on Monday that although the casino
is aimed at tourists, the government is very mindful of the likely
social fallout on Singaporeans. |
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