4. Value of contract

In these Regulations, any reference to the value of a contract shall be a reference to —

the total amount of money or money’s worth payable at the completion of the contract in respect of the performance of the contract —

including any amount payable for goods or services which may be acquired by an option granted under the contract; but(ii)excluding any goods and services tax (or equivalent tax) payable in relation to the supply of the goods or services under the contract; and

where a number of distinct contracts are entered into in connection with the same casino operator —

with the same vendor; and

within a period of 12 months,the total value of all such contracts, each computed in accordance with paragraph (a), notwithstanding that the value of any such contract alone does not exceed $500,000.