“I’m dying to go to Singapore. That’s my next goal in life — to build a hotel in Singapore,” Steve Wynn said.
Who is Steve Wynn, btw ?
Steve is a billionaire American Casino / Real-Estate developer who owns several resorts and casinos in Las Vegas and Macau.
But, why come to Singapore in 2017 ?
Steve didn’t say that, it is my interpretation based on the following facts.
1). Singapore currently has 2 major casino resorts: Resorts World at the famous Sentosa Island, and Marina Bay Sands which is partly owned by another Las Vegas based casino builder Las Vegas Sands.
2). Singapore government has given exclusive rights to this region to these 2 casino resorts until 2017.
Why come to Singapore ?
1). Singapore legalized gambling way back in 2005 to challenge Macau and attract more visitors.
2). No# of Visitors to Singapore is growing fast and is expected to reach 17 million by 2015.
3). And, we love playing Mahjong. For those who don’t know what it is, it is an ancient Chinese game these days played as a gambling game.
4). The two Integrated resorts have created a number of jobs reducing Singapore’s unemployment rate to mere 2.1 %.
5). Singapore is set to overtake Las Vegas and become the 2nd largest gaming center in the world, after Macau.
So, if Steve is reading this article, here are some key financials from Q1, 2011, that will be of some interest to you.
|Metric||Marina Bay Sands||Resorts World Sentosa|
|Net Revenue||585 Million USD||739 Million USD|
Lovely, isn’t ?
Amidst all these impressive data, what are the social consequences of a Casino ? We’ll reserve that for a separate article in the future.
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