Loh, frankly I am surprised that Singapore has finally succumbed to the casino gaming industry as an economic way out. It is one industry for quick bucks for the host government but it is a zero-sum business. This means everyone except the Singapore government (taxes) loses. Of courses there are gamblers who win and those who lose but this is never true in the long term. The only certain thing is the tax the government collects. Silly gamblers who may win big think they make big bucks. Has anybody told them that such big winnings are just money loaned to them, only to be paid back when they go back and lose them all and perhaps more?
Let us be frank here. Nearly all casinos, especially the new ones, in Asia or in Australia are built to milk money from Chinese gamblers from China. This is dangerous. At one time China cracked down on their officials from going to Macau, and Macau tanked like ten million tons of brick. This is a yo-yo industry that "steals" money from other countries but in a legal way.
Casinos in Asia and Australia are different from those in the West. In the West it is a little entertainment plus gambling. In the East it is mega bucks across countries, mainly from China's new mega rich businessmen and Chinese corrupt officials.
Well, I'm not sure whether 'succumb' is the right word to use. Many other countries already have casinos and especially on weekends, quite a number of Sporeans have been making trips to Genting Highlands for years to try their luck. Some of these casinos existed long before China achieved its current prosperity.
Sporeans have been gambling on all sorts of things even before this. They bet on horses, football, numbers, etc, illegally and the money went underground, not into the government's kitty.
In fact Spore forego the chance of making these 'illegal' money for many years and it doesn't make much sense to lose such revenue which can be put to good use like supporting the arts and sports and giving to charity. While the MM was adamant in retaining the old 'clean' image, the younger ministers think otherwise, but they agree to put in place a deterent system for gambling addicts and those who are financially strapped so as not to cause further hardship and problems to their families. In fact the government got the majority of the people's approval through some sort of referendum and discussions with religious bodies and the like before giving the go-ahead.
Our casinos are slightly different from just pure gambling dens.
The authorities decided that the casinos be incorporated into the concept of
Integrated Resorts, where family and business entertainment and recreation are also catered to. That's why we have Universal Studios in Resorts World Sentosa. That's why world class entertainers will be brought in for longer periods. Also required are MICE facilities for meetings, incentive tours, conventions and exhibitions. This will feature more for Marina Bay Sands IR to attract more global travellers. So the IRs with the casinos will enable Spore to become a more global city with facilities and amenities that can match up to and even surpass other global cities. We want a greater piece of the world tourism pie instead of forgoing the opportunity to others.
Therefore Spore did not succumb but rather beefed up its resources to meet the international challenge and make up for lost time. At long last the people rallied together to endorse what was thought to be a 'sin' to engage in the casino business.
