The world’s second most expensive casino was opened in Singapore on April 15, 2010. Singapore’s $5.94 billion dollar casino, Marina Bay Sands is the most expensive casino after MGM Mirage's CityCenter in Las Vegas. In January, the same year Singapore’s first casino, Resorts World Sentosa was opened.
Singapore government is known for its strict moral code. But the economic condition of the country has made it choose the path of the so-called immoral activities to generate revenue in 2005. Singapore has already legalized dancing on bar tops and has tried Formula One night racing and now the latest move is to allow casinos to operate. The opening of casinos in Singapore is a step to make it a hot tourist destination and to become less dependent on manufacturing industries.
Resorts World Sentosa – Singapore Hotel and Casino Resort
The 49 hectare Resorts World Sentosa located on Singapore’s holiday island of Sentosa is a $4.4 billion investment as reported by Sydney Morning Herald. Resort World Sentosa’s official website claims that it has got the world’s newest gaming halls and they know the gaming preferences of Asians. Resorts World Sentosa is owned by the Malaysian gaming giant – Genting Group.
Other than casino, the resort also contains hotels, restaurants and luxury good shops. The Universal Studios movie theme park which features movie theme roller coasters and other attractions is a major attraction of Resorts World Sentosa, which is designed to take care of family with special attractions for kids.
Marina Bay Sands – Singapore’s Luxury Hotel Resort and Casino
The $5.5 billion, Marina Bay Sands Resort is the second most expensive casino in the world. It is expected to generate $1 billion of profits in its first year of operation in Singapore and $3.2 billion in the second year. The resort contains casino, hotels, restaurants, shopping mall and an events plaza. The resort is also built by Malaysia’s Genting Group. Marina Bay Sands is designed to cater corporate and convention crowd.
Social and Financial Aspect of Casinos in Singapore
The two casino resorts are expected to boost tourism by attracting 10 million visitors and provide 45,000 jobs in the country. The rise of 13% in the GDP of the first quarter of 2010 is also attributed to the newly opened casinos. According to an analysis by Ruchika Tulshyan in GlobalPost.com, the government of Singapore has taken steps to ensure responsible gaming and to keep away Singaporeans from casinos from economic and social point of view. The entry fees for Singaporeans is kept hundred Singaporean dollars, but the Bank of America Merrill Lynch report found that 50 to 60% of the visitors to the casinos are Singaporeans.
Manoj Yadav - A working professional and a freelance writer by interest, I enjoy studying and writing about diverse issues and topics. Being a student ...
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