Singapore wants to become world-wide gambling center

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Tuesday April 19, 06:23

Singapore wants to become world-wide gambling center

(by Sh.Nakata)

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Singapore officials yesterday announced the plan to build two casino resorts, worth S$5bn in targeting to promote tourism business and improve employment situation.

The two casinos are said to be completed by 2009 and are expected to bring S$1.5bn a year to the state budget, the government said.

The casinos are aimed to put the start for establishing Singapore’s biggest entertainment, hotel and retail complexes. By this move the government makes efforts to double the number of visitors to 17m in 10 years, reversing Singapore’s declining share of Asia’s tourism market.

Among 19 of the world’s leading gaming companies submitted proposals to build the resorts
MGM-Mirage, Las Vegas Sands, Harrah’s Entertainment and Wynn Resorts are seen as favorites to gain the licences.

But some analysts are doubtful whether the casinos will deliver the expected benefits and whether they will be able to attract such a number of foreign gamblers.

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