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Malaysia Raises Gambling License Fees

28 October 2005

KUALA LUMPUR, Malaysia – As reported by Dow Jones: "Malaysia's government will sharply raise from January 2006 the annual license fees for operators of pool betting companies and the country's only casino, industry sources said Friday.

"'I can confirm the fees are going up but I can't tell you the quantum,' said one source, who declined to be named. The new fees are about five times current levels, sources said.

"…'The impact is small, perhaps a 1% to 2% erosion in the bottom-line,' said a gaming analyst at a local brokerage.

"…The new annual fees for companies governed by the Pools Betting Act will be MYR10 million, from MYR2 million previously, sources said…"

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