In a move that will spur the economy and spice up Singapore's recreational landscape, the operators of the two integrated resorts will pump in $9 billion to build world-class attractions including three new hotels, a 15,000-seat entertainment arena and extensions to Universal Studios Singapore . A fourth tower will be added to the iconic Marina Bay Sands development.
The $9 billion investment is almost two-thirds of the IRs' initial investment of about $15 billion in 2006. On Sentosa, two new areas - Minion Park and Super Nintendo World - will be added to USS. The S.E.A. Aquarium will take over the space now occupied by the Maritime Experiential Museum, creating a new Singapore Oceanarium three times larger than the existing aquarium.
A new two-tiered casino tax system will also kick in from March 2022. Under the new system, the first $2.4 billion of gross gaming revenue from premium gaming will be taxed at 8 per cent, while the rest will be taxed at 12 per cent. Similarly, the first $3.1 billion from mass gaming will be taxed at 18 per cent, while anything over that will be taxed at 22 per cent.
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Source: ChannelNewsAsia - 🏆 6. / 66 Read more »