Edgar Perez, Author of The Speed Traders, Speaker at The Speed Traders Workshop 2012 Singapore: How Algorithmic and High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX, September 15
As reported in Bloomberg BusinessWeek, Singapore collected S$93 million ($73 million) from entry levies placed on locals visiting the city’s two casinos in the first half, according to Josephine Teo, minister of state for the Finance Ministry.
The entrance fee of S$100 a day or S$2,000 annually from citizens and permanent residents amounted to S$195 million in 2011, Teo said in Parliament. The government also collected more from the two casino-resort operators, Las Vegas Sands Corp. (LVS) (LVS) and Genting Singapore Plc (GENS), with the net gain in tax revenue amounting to S$900 million in fiscal 2010 and S$1.1 billion the following year, she said.
“The casino operators have made more money, but at the same time it contributed to our tax revenues,” Teo said. “Through these tax revenues, the government is able to provide support to Singaporeans in many areas and expand our resources.”
The proposed changes include limiting visits by “local, financially vulnerable patrons who visit the casinos frequently” and raising the maximum penalty imposed on casinos that flout the law to 10 percent of gaming revenue from the existing limit of S$1 million, according to a document posted on the government’s public consultation website.
As the Singapore government has more than doubled its spending in the past two years to contain problem gambling, Mr. Edgar Perez, author of The Speed Traders, will present The Speed Traders Workshop 2012 Singapore, "How Algorithmic and High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX" (http://thespeedtradersworkshopsingapore.eventbrite.com/) on September 15 at the SGX Centre, as he continues his global tour educating investors and traders which has taken him to the world’s most important financial capitals, including Jakarta, Seoul, Mexico City, Hong Kong and Dubai.
Mr. Perez is widely regarded as the preeminent expert in the specialized are of high-frequency trading. He is author of The Speed Traders, An Insider’s Look at the New High-Frequency Trading Phenomenon That is Transforming the Investing World (http://www.thespeedtraders.com), published by McGraw-Hill Inc. (2011) and currently being translated into Chinese, course director of The Speed Traders Workshop 2012, How Algorithmic and High Frequency Traders Leverage Profitable Strategies to Find Alpha in Equities, Options, Futures and FX (http://www.TheSpeedTradersWorkshop.com), and founder of Golden Networking.
Mr. Perez was a vice president at Citigroup, a senior consultant at IBM, and a consultant at McKinsey & Co. in New York City. Mr. Perez has an undergraduate degree from Universidad Nacional de Ingeniería, Lima, Peru (1994), a Master of Administration from Universidad ESAN, Lima, Peru (1997) and a Master of Business Administration from Columbia Business School, New York, with a dual major in Finance and Management (2002). He belongs to the Beta Gamma Sigma honor society. Mr. Perez resides in the New York City area and is an accomplished salsa and hustle dancer.