The Prime Minister of Singapore, Lee Hsien Loong, has declared their intent of establishing casino resorts in their country. They are hoping to bank on this new venture. Expansion of gambling around Asia, specifically in Singapore, will be a culture shift. Casinos & gambling were once an immoral endeavor to the majority of the population in the Far East. However, today they are considered as the fastest growing industry worldwide.
The Philippines, Malaysia and Cambodia and other countries in Southeast Asia cash in at about $14bn (£7.7bn) a year. This leads Singaporeans to think and consider of taking their share in the casino industry.
Singapore’s geographical position is perfect. Since gambling is still illegal or considered to be a crime in the mainland of China, avid gamblers will definitely look forward to what Singapore could potentially offer. These days, most of the Chinese who desire to gamble will visit Macau, which is located at the west part of Hong Kong. Since the manufacturing industry has been dominated by China, Singaporeans are hoping that a new casino would help boost their tourism.
As the Singapore’s new Prime Minister Lee Hsien Loong said that if gambling is one of the things our tourists want to do here in Singapore, then maybe we should allow them to do that.
Establishing their own casino will help Singaporeans recover the estimated amount of $180M per year expenditure that Singaporeans spend in nearby Malaysian casinos.
More casinos mean more tourists, and with more tourists, Singapore will have more revenue from the gambling industry. Casinos will generate an increase in the tax revenue of the Singapore government. What’s in it for the casino enthusiasts?
The spokesman for the UK firm Ladbrokes said that casinos are essentially good fun and people who want to have a pleasurable time, betting at a casino can be an exciting experience.
Prior to making their decision, the Singaporean government is seeking for the public feedback regarding the new venture they are considering. At this stage, the proposal received a positive comment from the global casino giants. According to US giant Las Vegas Sands, Singapore casinos will take in as much as $2bn.
One of the spokesmen for the Gordon House Association, a UK-based organization that provides assistance and help to addicted gamblers, said that the people of Singapore need to watch out for the negative effects that the casino could have on their community. He also warned that there will be some opposition from the community in regards to this casino.
Singapore’s casino enthusiasts are nonchalant about the plans of limiting the casino access to the wealthy. A proposal has also been submitted to ban people with low income.
Certainly, all Singaporean casinos will be popular. However, the competition is tight since Las Vegas Sands (one of the global casino heavyweights) has recently made their newest casino available to the public in Macau, merging MGM Mirage/Mandalay Resort and Harrah’s/Caesars, and are both determined to attract more visitors from the Far East and significant number of foreign owned facilities are considering Administrative Regions of China as a location.
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