SEARCH NEWS:

 

Singapore Official: Gaming Operator Merger Won't Hurt Charities

SINGAPORE – As reported by the Straits Times: "Small charities now being supported by Singapore Pools have been assured they will continue to receive funding after the gaming operator is acquired by the Totalisator Board (Tote Board).

"Second Finance Minister Lim Hng Kiang said in Parliament yesterday that the move on May 1 would in no way affect the donations, outreach and commitment to such organisations.

"…The two gaming operators now separately manage the donation of the surpluses generated. This has led to some overlap in donations, especially in the charitable and community development sectors, he said during a debate on changes to the law to enable Singapore Pools to come under the Tote Board.

"With the change, the Board will have sole right to conduct all betting activities and manage donation of surpluses

"…Mr Lim said the sporting community - which received about $120 million from Singapore Pools last year - would continue to receive strong support from the Tote Board…"

< Gaming News