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Menu managing director Devin Kimble worried they could become “black holes”, sucking in consumer dollars. As the re- sorts approach their second anniversaries, Mr Kimble says his fear has come true. “My hope is eventually that will change,” he adds. He also echoes a complaint heard in
BETTING ON ‘CASH-SUCKING BLACK HOLES’ B
efore Singapore opened its casino resorts, restaurant and catering group
Macau: along with spending, the casino resorts suck in labour, making the situa- tion more dif cult for other employers. Mr Kimble says Menu closed two outlets of its Brewerkz microbrewery chain due to insuf- cient manpower. Entertainment complex Saint James
Power Station chief executive of cer Den- nis Foo campaigned for legal casinos for more than decade to boost Singapore’s tourism. Since the resorts opened last year, visitor arrivals have risen an estimat- ed 40 percent while visitor spending is up more than 70 percent. But Mr Foo admits he should have
been more careful about what he wished for. For the most recent scal year, Saint James reported a loss of S$1 million (MOP6.1 million). In a statement, the Singapore-listed company blamed the
resorts, “as many of the target audience in the nightclub industry have found casinos an alternative form of entertainment”. “The integrated resorts have come
up with different schemes to encourage you to come in,” Singapore International Chamber of Commerce chief executive Phillip Overmyer says. Aside from casinos, where Singapore citizens and permanent
residents need to pay S$100 (MOP615) to enter, “the rest is very popular with residents.” “To me, the litmus test of it all is this:
is the home market proud?” Marina Bay Sands’ rst CEO Thomas Arasi says. From the Singaporeans guiding visitors around the resort, the answer appears to be a resounding “yes”.
JANUARY 2012
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