Singapore to Curb Civil Servants’ Casino Visits

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http://www.businessweek.com/news/2013-08-12/singapore-to-curb-civil-servants-casino-visits-southeast-asia

Singapore is planning to tighten rules for public servants visiting the city’s two casinos after a handful of corruption charges against government officials in the past year.

Civil servants who go to the gaming halls “frequently” or those who buy annual passes will be required to declare such visits, Teo Chee Hean, Singapore’s deputy prime minister, said in Parliament yesterday. The city has a S$100 ($79) daily levy or S$2,000 annual tax for citizens and permanent residents entering the casinos.

Singapore lifted its four-decade ban on casinos, giving licenses to Las Vegas Sands Corp. (LVS:US) and Genting Singapore Plc, which opened their respective gaming resorts about three years ago. The two companies, which are recovering from falling gaming revenues, have been penalized for flouting rules including the visits by locals without paying levies.

The city, which was ranked fifth on Transparency International’s Corruption Index last year, wants to maintain its reputation as it competes for more foreign investors after lowering its forecast for exports this year. Singapore has also been ranked the easiest place to do business for seven straight years by the World Bank.