Singapore Casino

As part of the Singapore Integrated Resorts scheme, the government of Singapore has issued two casino licenses. On 26 May 2006, a casino license was awarded to Las Vegas Sands Inc. to build and run Singapore's first casino which is expected to cost US$3 billion and set to open sometime in 2009. They will be responsible for the Marina Bay Integrated Resort project.

The second license for the casino (Sentosa casino resort) projects has been awared to Genting International. This integrated resort will feature over 100,000 sq metres and able to house up to 52,000 people. A Universal theme park will be the main attraction here, along with hotel guest rooms, retail space, attractions and of course, a casino.

Singapore has put in much planning, and public debates as to the pros and cons of legalizing gambling and casinos. There were many oponents with regards to possible social ills and stigmas, but overall, these intergrated resorts (IR) is considered an important component of the government's long term strategy to increase the tourism and services sector.

Integrated Resorts and Casinos

Two Integrated resorts located at Marina Bayfront and Sentosa Island are to be completed by 2009. With a total cost of close to $6 billion dollars, the Singaporean Government expects 35,000 new jobs to be created and an estimated $1.5b boost to the economy and GDP. The Sands at Marina Bayfront will contain business retail space as well as a convention center on a 12.2ha site. The family orientated Sentosa Resort will contain an amusement park on a 47-ha site. The Casinos are expected to fill up less than 5% of total floor area at each resort.

Gambling Controls

Given the concerns many Singaporeans have about legalizing a casino, the government has taken several steps to ensure this does not become an epidemic problem. An entrance fee to the casinos will be enforced for all Singapore citizens and permanent residents (PR). The fees are tentatively $100 a day and $2,000 a year. The monies collected will go to the Singapore Totalisator Board for charitable causes. Individuals that are undergoing bankruptcies or have poor credit reports will be excluded. Spouses and family members can also request exclusion. Locals cannot use credit cards, post-dated cheques or request house credit from casinos.

No casino advertising will be allowed in the local media. The Home Affairs Ministry will set up Casino Regulatory Authority and a National Wellness Centre will also be constructed to help compulsive gamblers kick the habit. The Ministry of Community Development, Youth and Sports is to develop public education programs on gambling addiction as well as a National Council on Gambling.

Singapore is coming of age and the 40 year ban against casinos has finally been lifted. In fact, it has been lifted for about a year and Singapore is working hard to increase tourism. The reason why is so that tourism can bolster the economy and casinos are the easiest way to do so.

Las Vegas Sands will build casino resorts in Singapore at a price close to $3.2 billion. This company was chosen over several other prospective bidders because the proposed entertainment district looked like the best option for Singapore. Since winning the contract to build the casino and resort in Singapore Las Vegas Sands has promised to have the doors open and ready for the public by 2009.

Singapore began considering the idea of casinos and resorts back in 2004, but were worried about increasing crime that might come along with the development. Currently Singapore has a very low crime rate and they did not want that to change. Amazingly, 19 different bids were submitted for the large project although only four made it to the final stages.

Las Vegas Sands was chosen as the winner for a variety of reasons and its proposal certainly had a lot to do with it. The idea of a waterfall as well as a Moshe Safdie designed museum were two points that drew Singapore in. The proposal also included that almost 11,000 jobs would be created with the majority of them going to locals and that one percent of the Singapore economy would be made up of income from the resort.

The resort will be the world’s most expensive and will be constructed on 51 waterfront acres. A 30 year concession will be given to Las Vegas Sands to operate the new casino and resort and estimates believe that revenues could reach up to $3.4 billion per year. There are some benefits for Las Vegas Sands as well including no other casinos as competition for at least 10 years and a 15 percent tax on revenues.

Although the casino and resort will not be completed until 2009 there sure is a lot of talk and hype about it. Individuals worldwide are excited about the plans and gamblers worldwide are anxious to see what will be the result of the Las Vegas Sands project in Singapore. One thing is for sure and that is that the casino and resort will be absolutely fabulous. It would be hard not to be with a budget of more than $3 billion dollars!

Hopefully construction will stay on track and the opening date will really be in 2009 as Las Vegas Sands has promised. Until then the world can only sit back and wait with anticipation for the newest casino.