99
9.7 million visitors last year.
But with restrictions on native
residents, it is relying on taking busi-
ness from other Asian gaming centres
including Macau.
Analysts expect the casino re-
sorts to help the city meet its targets
through the new “integrated resorts”.
Robert McIntosh, executive direc-
tor of consultancy firm CBRE Hotels
Asia Pacific, said: “There is clearly a
push to add to the range and depth of
attractions here and that is important
for a place like this.
“They (casino resorts) are a mas-
sive boost to overall tourism to Sin-
gapore.”
CLSA Asia-Pacific Markets, an
independent brokerage firm, said Sin-
gapore’s casinos are expected to gen-
erate revenues of US$2.1 billion this
year, rising to US$3.5 billion in 2011.
Singapore agreed to go ahead
with the two casino resorts in 2005
after a rare public debate – overturn-
ing a ban on gambling that had been
in force since independence in 1965.
Opponents feared gambling
would threaten the city’s “family val-
ues” and put it at risk of becoming a
centre for money laundering.
But the government has put in
safeguards, including imposing a
S$100 (US$70) entrance fee for Sin-
gaporeans and permanent residents
and banning anyone declared bank-
Chairman of Resorts
rupt from the casinos outright.
World Sentosa and its
developer, Malaysia’s
Other restrictions include a bar
Genting Group Lim
on entry to anyone under 21, a ban
Kok Thay plays on bank cash machines on the casi-
baccarat to begin
no floor, the formation of a National
the soft opening of
Council on Problem Gambling and a
Singapore’s first casino
blacklist of gamblers with known ad-
diction problems.
discussions between the two casino gi- “This is a significant milestone in
In January the government
ants about possible future link-ups. Singapore’s business history. We prom-
launched a dedicated police unit to in-
Genting Singapore’s US$4.7 billion ised to deliver a true integrated resort,
vestigate casino-related crimes.
Sentosa complex houses 530 tables, and we have not deviated from that.
Resorts World Sentosa and Mari-
1,300 slot machines, and a 12-table “We will be the most exciting gam-
na Bay Sands are the only two casino
poker pit in the casino as well as a Uni- ing resort in the world.”
developments approved so far.
versal Studios theme park, shopping
Tan Hee Teck, Chief Executive
malls, restaurants and four hotels. Marina Bay is next
Officer of Resorts World Sentosa,
The casino was granted a trading Singapore’s second casino, Las Vegas
said: “We know a lot of Singaporeans
license a week before its soft launch Sands’ nearby US$5.5 billion Marina
are looking forward to the opening
while full opening is expected to fol- Bay Sands, is due to begin its phased
of both our major elements, the ca-
low in the next two months. opening next month, though many ana-
sino and Universal Studios Singapore.
Lim, who inaugurated the complex, lysts doubt it can meet that target.
We are ready to soft-open the casino
said: “In less than three years since the Singapore, which has the highest
but are still fine-tuning the rides and
time we broke ground and commenced density of millionaires in the world,
shows in the theme park, which are
construction for Resorts World Sentosa, is aiming to get 17 million visitors a
still on schedule to open in the first
we have taken our vision from drawing year to generate more than US$30 bil-
quarter of 2010.”
board to reality. lion from tourism by 2015, up from *GamblingCompliance/Macau Business
March 2010
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