I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Monday, 24 April 2017

Clubs still milking millions from jackpot cash cows


Read? Clubs still milking millions from jackpot cash cows


 The jackpot operations of social clubs have been in the news lately after it was reported that the Tiong Bahru Football Clubhouse, at the basement of People's Park Centre in Chinatown, generated an eye-popping S$36.8 million in revenue from its 29 slot machines in the last financial year.

 That works out to roughly S$1.27 million for each machine, or just over S$100,000 per machine each month. The club paid out about S$23 million to punters in 2016, according to its annual report submitted to the Football Association of Singapore.

 (CW: 36.8 - 23 = $13.8M)
Posted by Createwealth8888 at 08:12
Labels:

2 comments:

  1. RayNg24 April 2017 at 08:59:00 GMT+8

    The clubhouse, which operates from 10am to 2.30am daily, is already a popular haunt for retirees on most days.

    Why these retires want to throw good money to the slot machine? :(

    ReplyDelete
  2. Spur28 April 2017 at 17:09:00 GMT+8

    Hmm I always knew jackpot machines really bring in the money ever since I helped out at the former NCO Club on Beach Rd (originally the colonial Britannia Club) in the late 1980s. But no guts or contacts to setup one.

    I remember even the old MND staff lounge had like 5 or 6 one-arm bandits, and they earned enough every year for lavish D&D and heavily-subsidized holiday trips. Not sure whether still got now.

    Below are the 2 main steps to start:
    1. Form a society with at least 500 voting members.

    2. Apply to police for private lottery permit --- $195 per year license.

    - Cannot advertise but each member can bring 2 guests.
    - Food & drinks can be served.
    - Annual tax to IRAS of 9.5% of takings.

    ReplyDelete

Subscribe to: Post Comments (Atom)
Related Posts with Thumbnails