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Singapore Hopes for Tourism Boost With Second Casino

by Tanya on April 28, 2010 at 11:26 AM Lifestyle News

As a post-recession tourism boost and as a means to raising its profile as a playground for the world's high-rollers, city-state Singapore has thrown open the doors of its second casino.

Singapore Hopes for Tourism Boost With Second Casino

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The 5.5 billion US dollar Marina Bay Sands, built by US gaming giant Las Vegas Sands, opened at the locally auspicious time of 3:18 pm (0718 GMT). The number eight sounds like the word for prosperity in Chinese.

It is Las Vegas Sands' latest big-time bet on the future of Asia's gaming industry and is its first casino in Asia outside Macau.

Las Vegas Sands chairman Sheldon Adelson said he expects to recoup his Singapore investment in five years.

"Most of the high-end players are reputable business people. They have to travel anyway so they typically would travel to the major cities, like Hong Kong and Singapore, wherein they do business," he told reporters.

Singapore gave the green light for casino gambling in 2005, setting off a flurry of construction that went ahead despite the city-state slipping into recession in 2008 because of the global financial crisis.

Its first casino, the 4.4 billion US-dollar Resorts World Sentosa built by Malaysia's Genting Group, opened for business on February 14.

Marina Bay Sands was originally set to open at the end of 2009 but faced repeated delays caused by a number of factors, including material and labour shortages and financial problems due to the downturn.

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Singapore Hopes for Tourism Boost With Second Casino

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