104 Gaming
The vast majority of mega-meetings ernment to loosen up, or that may be a
that could fill the Sands centre, and the necessary condition to attract, retain and
thousands of added hotel rooms in and inspire those best and brightest.
around the IRs, are based in the Western “Singapore has no idea what is
hemisphere, according to experts, with about to hit it with the opening of the
little prospect of moving east. IRs,” Menu’s Devin Kimble a resident of
Asia’s share, perhaps 10 percent of the city-state since 1995, says.
the total, includes events tied to Japan “Singapore opened up to casinos be-
and China likely to stay put. “Singapore is a place that people cause it doesn’t have much other choice.
Arasi is optimistic: “We have just want to visit but are sometimes disap- We need something extra and that will
announced a strong line-up of events pointed when they arrive as there is not be to develop a ‘fun’ infrastructure.
that will bring over 150,000 attendees a huge amount to do,” CLSA’s Aaron Eventually, the society will have to
to the integrated resort beginning 2010. Fischer observes. open up to make it work. And I think it
Several of these events are new to Sin- “With the IRs, people will now stay will. Asian societies don’t tend to stay
gapore and some are returning to Singa- longer and come back for repeat visits.” particularly puritanical where money’s
pore after more than a decade.” That’s likely to be true, but it’s hard- to be made.”
That sounds great, but Macau has ly the revolutionary transformation Lee “Singapore is a geographic and his-
heard similar MICE promises without see- envisioned. torical accident that prospered by being
ing any real impact on the overall market. The IRs may simply expand what more efficient than the rest of Asia, and
Singapore already has: more shopping, more capitalist and pro-West than Chi-
X-factor more business meetings, more ill-gotten na,” Aaron Brown, hedge fund manager
“We seek to be a global city, attracting funds, say from Russia as well as Asia, in New York and author of The Poker
talent from around the world, lively, vi- finding their way into property and other Face of Wall Street, observes. “The
brant, and fun to live and work in. We investments. competition has gotten much fiercer in
want Singapore to have the X-factor – Or the IRs may spark the best and both areas. Singapore must somehow
that buzz that you get in London, Paris brightest in Singapore and the region package independence plus efficiency
or New York.” to find new ways to exploit the city- into a salable product for business, talent
Prime Minister Lee Hsien Loong state’s international crossroads status, its and recreation.
gave that explanation in April 2005 to wealth, and other advantages. “If it can’t do it for resorts, it will
help justify casino legalisation. They IRs may also lead the gov- eventually lose it for everything.”
Singapore and Macau
can co-exist, says Sands
Singapore and Macau can co-exist in the asian
tourism market, says president and chief executive
of Marina Bay Sands, Thomas arasi. “Singapore
and Macau are culturally and geographically
distinct markets,” arasi told the Sydney Morning
herald. “Singapore is in a strategic location
and is a global destination. Macau is important
in north asia and attracts many mainland
chinese tourists,” he added. Marina Bay Sands,
operated by las Vegas Sands, “will further boost
Singapore’s status as a leading travel destination
offering new experiences for visitors,” arasi said.
In Macau, las Vegas Sands operates Sands
Macau, the Venetian Macau and the Plaza Macau.
March 2010
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