Reason Behind Opening CASINO
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Hey guys, I am sorry to say this. But I really feel something is wrong. LKY say he wun let gambling become legalise in Singapore that why we are without gambling for 30 years.
Why now suddenly say open 2. I am sure there is a deep hole which they need to cover. They loses billions in investment. No one know how much is now in our reserve. There is no audit at all.
Brother commrades, Jolly well wake up and make a wise choice. Stop those wayang people.
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Now it is not started yet. When casinos lose money, we will have to cope with increasing costs. Will definitely increase costs to cover losses
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MM Lee shows who is really in charge by being the first PAP leader to visit Sentosa IR
January 15, 2010
Singapore’s octogenarian leader Lee Kuan Yew showed who is really in charge of the government by being the first PAP leader to pay a visit to Resorts World Sentosa on Wednesday, a week ahead of the opening of its first phase on Jan 20.
He was hosted by Tan Sri Lim Kok Thay, chairman of the Genting group which owns the resort, and Mr Tan Hee Teck, chief executive officer of Resorts World Sentosa.
Such an important symbolic visit should be undertaken by the Minister of Trade and Industry or the Prime Minister himself.
It is strange that MM Lee, who admitted in a speech to a Japanese audience recently that he is “not doing much work except doing forecasting” felt fit to make the trip in person in spite of his advanced age.
In fact, his son the Prime Minister has not appeared much in news lately except a New Year’s day message to Singaporeans that they remain a “priority” for his government.
Mr Lee’s press secretary Yeong Yoon Ying said that during the visit, which lasted two hours, MM Lee toured the Universal Studios and had a brief visit to its four theme parks, some of its hotels, as well as the WaterWorld amphitheatre.
The two Integrated Resorts were part of the ruling party’s grandiose plans to diversify and expand Singapore’s economy in the hope of bring much needed foreign capital and talent into the island state.
They were implemented swiftly without much of a consultation with the people despite staunch opposition from religious groups.
While the state media has been busy of late trying to generate positive publicity for the two IRs, others are more guarded about their future prospects.
An analyst from Citicorp Anil Daswani expressed doubts about the profitability of Singapore’s two integrated resorts in September last year.
In a report on the prospects of Las Vegas Sands (LVS), which owns Marina Bay Sands (MBS) here, Citi said that assuming MBS contributes 20 per cent of LVS’s total Ebitdar in its first full year, every eligible Singaporean will have to go to the casino five times a year and spend more then the average visitor to Macau.
‘We liken the current sentiment towards the integrated resort to the Macau gaming boom in 2006/07 and urge investors to not be left holding this parcel when the music stops,’ he added.
According to Mr Anil, Singapore needs to attract locals to gamble regularly if it wants its casinos to succeed.
However, a hefty entry fee of $100 is likely to put off some Singaporeans. Furthermore, unlike Las Vegas or Melbourne, Singapore has a small population of only 5 million people.
Ronnie Chan, chairman of Hang Lung Properties Ltd., Hong Kong’s fifth-biggest developer by market value, said recently in a Bloomberg Forum in Hong Kong that the two casino-resorts in Singapore will fail because they won’t be able to attract high-rollers:
“The big rollers are what make money in casinos, they will never come to Singapore, it’s a family entertainment” location. You think big-rollers will go to Singapore where they have teeth and fangs coming out sideways? There are too many rules. I was in Sentosa island, I really think that it’s going to be a flop…..The whole integrated entertainment industry, I’m worried for them. The good thing about Singapore is that if you flop, you’re given a second chance,” he said.
Despite all the hype and buzz from the media, MM Lee must be feeling anxious about the PAP’s pet project which is tied to its political fortunes.
Fortunately for him, even if both flop, he will be given a second chance to redeem himself as there is no opposition in parliament to hold him and his colleagues accountable and neither are Singaporeans brave enough to register their displeasure publicly.
In the event that the two IRs fail to bring in the visitors and generate sufficient revenue as promised, Singapore will end up with two white elephants in the its CBD, like the now defunct Tang dynasty village in Jurong.
http://www.temasekreview.com/index.php?s=mm+lee+visit+to+casino
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already built and done liao,,,..now then come and talk about reasons for what??? just like already pregnanted then talk about birth control...crazy opposition supporter.
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Full transcript of MM Lee’s interview with National Geographic magazine
January 2, 2010
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Originally posted by angel7030:
already built and done liao,,,..now then come and talk about reasons for what??? just like already pregnanted then talk about birth control...crazy opposition supporter.
CMI NATO Party what -
Rice already cook liao, then come tell me not eating tonite, fair or not?
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more gantries = more erp = more monies
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87 years old and still as fit as a fiddle. Very alert too. The walk at the casino says it all...he's still pulling the puppet strings in govt.
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that is why i told many that he is a good actor.
With 12 top attentive doctors fully paid by citizen, pumping him medication from eastern to western to traditional practices, they cannot fail, can they??
in fact he was taken as a guinea pig for the east and west mix medication project
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Comments on the two IRs is like this picture,
The focus is attracted to the mole.
And that's what the casino is in the IRs.
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i do agree the point on increasing costs to cover any loss made by the casinos though
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whether the casino make or lose money doesn't matter. since it built by foreign companies using foreign funds. close down den let it close lor.
what we should be more concerned with is whether our SWF will continue to lose more money.