4. In these Regulations, any reference to the value of a contract shall be a reference to —
(a)
the total amount of money or money’s worth payable at the completion of the contract in respect of the performance of the contract —
(i)
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
(b)
where a number of distinct contracts are entered into in connection with the same casino operator —
(i)
with the same vendor, or with 2 or more vendors which are related corporations; and
(ii)
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.