Casino levies boost Tote Board's surplusIt doubles charity funds as levies make up for drop in Toto, 4D takings
By Ng Kai Ling
GAMBLERS have forsaken old favourites for the newest gaming in town.
Toto, 4D and horse-racing have seen a dip in takings after the integrated resorts (IRs) opened in February and April last year.
The chairman of the Singapore Totalisator Board (Tote Board), Mr Bobby Chin, revealed on Thursday that takings from the Singapore Turf Club have suffered by about 30 per cent while Singapore Pools' dipped by 3 to 5 per cent.
This, however, has not stopped the Tote Board from doubling its charitable commitment - its collections from casino levies more than made up for the shortfall, prompting it to announce on Thursday that it will be giving away $625 million.
Two of its major beneficiaries - the Tote Board Community Healthcare Fund and the Community Chest - received $100 million and $50 million respectively in a cheque presentation ceremony held at the National Council of Social Service (NCSS) auditorium on Thursday.
Said Mr Chin: 'We have been affected in some ways by the casinos but nevertheless, because the Government has directed the levy to the Tote Board, it means additional quantum and additional ability and capability to help fund-worthy projects.'
Read the full story in Friday's edition of The Straits Times.
kailing@sph.com.sg
Copyright © 2010 Singapore Press Holdings. All rights reserved.
http://www.straitstimes.com/Breaking+News/Singapore/Story/STIStory_633718.html
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