Genting Spore 02 (May 10 - Dec 14)

[Aspellian]

I read the following from an analyst report and I am quite saddened that casinos may indeed destroy many familieis in spore... no wonder Kenny is one of those who petitioned against it....

I didnt know that sporeans will be the bulk of the gaming patrons at 30%. hmm....

1) Asians want to gamble and have money to burn. Asians have displayed a appetite to gamble for cultural reasons as evidenced by the size of the Macau market and as Asians represent a significant part
of the US and Australian gaming markets.

Southeast Asia, and indeed Asia, is home to some of the world's fastest growing economies. The region is expected to maintain GDP growth of 5%-plus over the longterm
.
Along with GDP growth comes rising incomes. MasterCard estimates that the number of Asians earning more than US$5,000 will reach 639m by 2014 from almost 400m now, or 5% Cagr.

Singaporeans, who are expected to make up one-third of casino visitors to the Singapore resorts, have the third-highest GDP per capita in Asia of c.US$39,000. We believe growth will also surprise. As an example, Macau gaming revenues have grown by around 30% per annum over the last six years

2) Easy access The IRs have completely transformed the entertainment landscape of Singapore. With average daily foot-traffic ranging from 25,000 to 50,000 per day in each of the two casinos, there is less of a
doubt now that Singapore is truly a gaming market that was waiting to be unleashed.

Both the casinos are transformational, unlike Macau where it has now become an incremental market with stiff competition. While it would appear one of the most obvious points, we want to highlight that it is unheard globally for governments to allow two very major casinos in the middle of a city's CBD Melbourne and Syndey do have large casinos but not the scale of Singapore, a city that also attracts a larger number of tourists.

The Singapore government is providing easy access to its 5m population. We find the S$100 entry fee rather nominal compared to typical bet sizes. Also the S$100 represents a light obstacle compared to the public of HK who have to travel over 1 hr to Macau via ferry; or for Malaysians living in KL who have to travel to Genting Highlands or Singaporeans that currently travel to Genting or board gaming cruises.

Also, mainlanders are restricted to visit Macau once very two months, which dramatically constrains the size of Macau's gaming market.

[millionairemind]

Did you notice all the high end pawnshops like Maxi-cash have been revving up their advertisements??

[Poles]

Did you notice all the high end pawnshops like Maxi-cash have been revving up their advertisements??

that is a total crap advert....pawn her jewellry to buy preseent for her boyfriend....

[kennynah]

We find the S$100 entry fee rather nominal compared to typical bet sizes. Also the S$100 represents a light obstacle compared to the public of HK who have to travel over 1 hr to Macau via ferry; or for Malaysians living in KL who have to travel to Genting Highlands or
Singaporeans that currently travel to Genting or board gaming cruises

South Korea restricts its citizens entirely from entering the casino in Seoul. Only those who are proven with very high net worth are eligible to gamble in their casino.

Malaysia bar all Muslim Malaysians from entering genting casino...

now you begin to see the foolishness of the law makers here. one of the roles of any gahmen is to protect its citizenry from any harm, external and internal...

if you had caught the interview of michael caine with charlie rose (blommberg tv), you will recall michael said...

(i paraphrase)
"once a party is in power for 2 terms, i vote for the the opposition. when they get into power, they are eager to serve the people, they are public servants...but when they serve past 2 terms, they forget they are public servants and become public masters"

[millionairemind]

Did you notice all the high end pawnshops like Maxi-cash have been revving up their advertisements??

that is a total crap advert....pawn her jewellry to buy preseent for her boyfriend....

I SECOND your crap!!!

No money don't buy la!!!

I can't believe our mediacorp allows this kind of adverts to pollute the young minds with consumerism...

[millionairemind]

We find the S$100 entry fee rather nominal compared to typical bet sizes. Also the S$100 represents a light obstacle compared to the public of HK who have to travel over 1 hr to Macau via ferry; or for Malaysians living in KL who have to travel to Genting Highlands or
Singaporeans that currently travel to Genting or board gaming cruises

South Korea restricts its citizens entirely from entering the casino in Seoul. Only those who are proven with very high net worth are eligible to gamble in their casino.

Malaysia bar all Muslim Malaysians from entering genting casino...

now you begin to see the foolishness of the law makers here. one of the roles of any gahmen is to protect its citizenry from any harm, external and internal...

if you had caught the interview of michael caine with charlie rose (blommberg tv), you will recall michael said...

(i paraphrase)
"once a party is in power for 2 terms, i vote for the the opposition. when they get into power, they are eager to serve the people, they are public servants...but when they serve past 2 terms, they forget they are public servants and become public masters"

The $100 fee is just to appease the crowd who had petitioned against the casino. This is a vocal group who might vote for the opposition since they petitioned so hard against it in the first place.

What is $100 if you are going to wager $10-20K???

It is there to keep out ppe. like me who has no interest at all in the casino...

[millionairemind]

May 5, 2010
Vice spills to heartland
MPs worry that these activities are moving to residential areas
By Sujin Thomas

Prostitutes waiting along Talma Road in Geylang on Monday. Some people think the crackdown in red-light areas simply leads to vice activities moving elsewhere. -- ST PHOTO: DESMOND WEE

WHETHER in Marine Parade or Bedok, Kovan or online, prostitutes are making their presence felt.

No longer are they plying their trade in traditional red-light districts such as Geylang, going by police vice raids over the past few months.

Their forays into the HDB heartland are upsetting MPs, who think that, among other things, the 'cleanup' of Geylang has simply led to the pimps and prostitutes moving elsewhere.

MP for Tanjong Pagar GRC Baey Yam Keng said: 'They are spilling out because of the raids. People accept what they do in Geylang, but may not be used to it elsewhere.'

A bigger concern they have is whether more will enter Singapore with the establishment of the two integrated resorts and the influx of gamblers and high-rollers the IRs are expected to bring in.

Mr Baey said: 'Singapore has always been welcoming to tourists who may seek different sorts of pleasure activities. When demand goes up, so will supply.'

[iam802]

I think there is a need to highlight that the influx of prostitutes is not because of IR alone.

Some 6-7 years back, before the IRs were announced or open, there was already an increase of such activities; spilling over to the neighbourhoods.

To me, this seems like shifting the blame or the cause of this influx to the IR.

The govt. plays a major role in controlling the PR applications, employment pass (and whatever pass that allows people to stay longer than necessary).

But, let's just leave it as it is. I shall not hijack this thread.

[kennynah]

The $100 fee is just to appease the crowd who had petitioned against the casino

that may be the reason...but i am far from being appeased...sadly, where i live... i do not have the chance to vote...not for the last >2 decades..... so, vote for what opposition? dont joke lah

i truly believe this $100 entry fee simply is a means for revenue collection for the gahmen.... and who's auditing this? you may say, who's auditing COE...i say this one, no need...factually, the # of COEs are published and can therefore the revenue can be easily calculated....but not the # of people entering casinos...so, who will know ?

if 50,000 singaporeans visit per day, this means S$5mil buckos per day x 365 = ~S$2bil a year....

[Aspellian]

is this the start of a decadent rotting of generations to come... the social impact will be scary.

Hope that we will never read news of people jumping off buildings because of casino debts...

thriving businesses for proper and vices - spillover effects will be trememdous. be it loansharks, prostitutions, conmen, drugs, luxurious goods, retail, watches, income disparities, materialism (high-school babes going after high-rollers instead of studying hard). probably this is just the next stage of being a developed nation growth.

exciting time now for policemen, counsellors and immigration officers though.