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Singapore may set tax for high rollers lower than Vegas

Linus Chua

Thursday, Dec. 30, 2004 | 10:50 a.m.

Singapore, proposing its first casino as part of a resort and convention center complex, is offering the company that operates it a gaming-revenue tax rate for so-called high rollers lower than that of Las Vegas.

The government said today in an e-mailed statement the proposed tax rate for "premium players," who bring S$100,000 ($60,885) to gamble, would be 5 percent. That's a third of the general 15 percent gaming revenue tax the city-state would impose on casino operators.

The 5 percent rate would be less than a 7 percent gaming revenue tax imposed in Las Vegas, lowest among developed casino markets such as those in U.S., U.K., Macau or Australia, said Jonathan Galaviz, a partner of Galaviz, Ong & Co., a Las Vegas- based gaming industry analyst. It would also be the first time tax incentives have been used to draw high rollers.

"Attracting high-end players will increase Singapore's entertainment profile for high-net-worth individuals around the world," Galaviz said.

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