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Asia News - Page 98

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South Korean Gaming Tax May Fund Local Areas

International News Brief: Funds from the South Korea special excise tax on horse and bicycle racing tracks and casinos may be reallocated to local governments to secure financial resources for local areas.

South Korean Casinos to Open in 2005

International News Brief: After a 10-year lull, three new foreigner-only casinos will open in an effort to meet the needs of the increasing number of tourists, to promote the flourishing tourism industry and create new jobs, a South Korean government official said Friday.

Singapore Developers Partner with Gaming Operators

International News Brief: Local property developers look set to muscle in on a Singapore casino by joining forces with foreign gaming operators, industry sources say.

Macau's Gambling Growths Worries Some

International News Brief: The gambling industry's growth boosted GDP by 25 percent in the first quarter, but some warn that Macau must diversify its economy.

Indian Bookies Pick Election Favorites

International News Brief: Bookmakers in Mumbai say the betting rates right now show that the Congress-NCP combine and its alliance partners will win the Maharashtra Assembly elections.

Singaporeans Split Over Casino Idea

International News Brief: Singaporeans are split over the idea of allowing a casino to be opened in the island state even with restricted entry, according to a recent survey.

Money Rolling into Revamped Macau

International News Brief: Gambling Macau-style has changed dramatically since Sands, a subsidiary of the Venetian company that owns its namesake hotel-casino complex in Las Vegas, opened in May.

Bus Driver Arrested for Using Fake Card to Pay Casinos

International News Brief: Macau police arrested a Hong Kong mini-bus driver who allegedly used a fake credit card to pay back a HK$ 90,000 debt to loansharks in Hong Kong.

China Clamps Down on Vices

nternational News Brief: Hundreds of China’s entertainment venues have been shut down following a campaign to clamp down on prostitution, gambling and drugs.

Countries Use Variety for Gambling Restrictions

International News Brief: Many countries are using different methods to control and restrict gambling within their borders.

Lower-Income Singaporeans May Be Barred from Casinos

International News Brief: Lower-income people may be barred from Singapore's proposed first casino if the government decides to go ahead with the project, Prime Minister Lee Hsien Loong said.

Canadian Sues Nepalese Casino

International News Brief: A Canadian has dragged a casino in Nepal to court for violating the norms of blackjack.

Singapore Joins Global Casino Scene

International News Brief: Singaporean Prime Minister Lee Hsien Loong has announced plans for a casino resort, hoping to cash in on the wildfire expansion of gambling around Asia.

Singapore Development May Include Casino

nternational News Brief: Land-starved Singapore is relaxing its property ownership rules to sell an exclusive waterfront development that may include a casino.

Israel Illegal Gambling Profit Subject to Taxes

International News Brief: Israel’s Ministry of Finance income and property tax division has ruled that profits from illegal gambling are subject to the regular tax rate.

Hong Kong Sports World Hit by Gambling Scandal

International News Brief: While doping scandals rock the Olympic games in Greece, police in Hong Kong Saturday busted an underground network of illegal sports gambling.

More Casinos to Impact Asia

International News Brief: The opening of more casino industries in the Asian region will present more opportunities for operators to expand but it could also pose a threat to their existing businesses due to increased competition, according to GK Goh Research.

Police Bust Bug Betting Ring

International News Brief: Hong Kong's obsession with gambling reached unusual extremes on Monday when 115 people were arrested for betting on insect fights.

Indonesian Police Raid Gambling Den

International News Brief: Indonesian police have raided a gambling den reportedly owned by former East Timor militia boss, Eurico Guterres, who has been convicted of crimes against humanity in his former homeland.

Four Arrested in Vietnam for Illegal Euro Betting Network

International News Brief: Four men were arrested in Vietnam for operating an illegal network that took bets on Euro 2004, taking the total number of gambling-related arrests during the championship to 643, police said Wednesday.

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