The funds were allocated to the Ministry of Family, Adolescence and Childhood and the Nicaraguan Institute of Sports.
Nicaragua.- The National Lottery of Nicaragua delivered the profits for the month of August, benefiting the Nicaraguan Institute of Sports (IND) and the Ministry of Family, Adolescence and Childhood (MIFAN) with C$ 12,250m (USD 329,568) each, for a total of C$ 24,500m (USD 659,136) in contributions during the month.
The ceremony of the funds delivery took place at the Michelle Richardson swimming complex and was led by the general manager of the lottery, Virginia Molina, who was responsible for handing over the checks to both government agencies benefited by these funds.
“In this eighth delivery of the year we total C$ 196m (USD 5.2m) in profits, C$ 98m (USD 2.6m) to MIFAN and C$ 98m (USD 2.6m) to the IND and the fulfillment of this task is mainly thanks to the sellers who every day offer the different Lottery products on the streets of the country bringing luck to the faithful players; to the workers of the National Lottery and to all the families that buy Ordinary lottery, scratch cards and now the Insta Cash games,” highlighted Molina.
See also: The National Lottery of Nicaragua delivered USD 3.9m in profits in the first half of the year
Molina also announced that Insta Cash has new games, "Bingo" and "Numbers on Fire" that with only investing C$ 30 can generate earnings up to C$ 80,000 (USD 2,100).
Deputy finance minister Julapun Amornvivat said discussions around the tax collection mechanism could last until the middle of this month.
Thailand.- Deputy finance minister Julapun Amornvivat has called all relevant state agencies for discussions regarding the government’s proposal to permit casinos to operate within entertainment complexes.
According to the Bangkok Post, Amornvivat said the focus of the discussion will be on the process for tax collection, given the constraints outlined in the State Fiscal and Financial Disciplines Act, which the government must comply with. The act stipulates that tax collection falls under the purview of the Customs, Revenues, and Excise departments within the Finance Ministry and cannot be delegated to a separate committee, as previously suggested by the House. Amornvivat said the debate could be finalized by mid-October.
As regards the House’s proposal to establish a new fund to support people with gambling-harm-related problems, Amornvivat said that the ministry would need to engage in more deliberations on the matter, as current regulations prohibit a ministry or agency from creating a redundant fund.
He indicated that the entertainment complex project will be open to all private investors interested in participating. Consequently, once the entertainment complex bill receives approval from the House, the government must establish clear regulations to govern the industry. The ministry, however, noted that this process may take considerable time to finalize.
He also mentioned that prominent entertainment companies like Walt Disney and Universal Studios could establish a presence in the country following the bill’s approval.
See also: Online slot games lead betting trends among Thai gamblers
The proposed legislation includes 30-year casino licenses, with the option for a 10-year renewal. Casinos would be part of large entertainment complexes with hotels, convention centers, and amusement parks. In May, Julapun Amornvivat suggested that the casino component would be no more than around 5 per cent of the project’s total area.
The draft bill stipulates that complexes should be located in designated areas and operated by companies registered in Thailand with a minimum paid-up capital of THB10bn (US$283m). A policy panel led by the prime minister and a regulatory agency would oversee the industry.
Five locations are considered potential hosts: two in Bangkok, and one each in the Eastern Economic Corridor, Chiang Mai, and Phuket. Authorities hope IRs could increase tourism revenue by US$12bn.
