<TABLE class=msgtable cellSpacing=0 cellPadding=0 width="96%"><TBODY><TR><TD class=msg vAlign=top><TABLE border=0 cellSpacing=0 cellPadding=0 width="100%"><TBODY><TR class=msghead><TD class=msgbfr1 width="1%"> </TD><TD><TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR class=msghead vAlign=top><TD class=msgF width="1%" noWrap align=right>From: </TD><TD class=msgFname width="68%" noWrap>Fkapore <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>8:16 pm </TD></TR><TR class=msghead><TD class=msgT height=20 width="1%" noWrap align=right>To: </TD><TD class=msgTname width="68%" noWrap>ALL <NOBR></NOBR></TD><TD class=msgNum noWrap align=right> </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>24764.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Casinos...
...And Singapore’s history
In a few months two casinos – costing $12b – will start operation to herald in a new phase, but a little jitter lingers about the potential impact. By Seah Chiang Nee.
Nov 14, 2009
THE family tragedy of a restaurant manager who killed his two children and set fire to the flat before jumping to his death has become a national talking point.
Some neighbours saw Ng Chee Kiang, 39, behaving oddly on the 12th floor ledge before falling over.
Unknown to anyone, he had just suffocated his two children, aged 5 and 3, after sending the maid out on an errand. The wife was at work.
News reports said the manager of a Japanese food company who earned S$5,000 monthly owed loan sharks some S$200,000 as a result of overspending, gambling and share speculation.
Ng was also a bankrupt who was on the verge of divorce and a custody fight over his children.
Coming only two months before the first of two multibillion-dollar casinos opens, the family tragedy has renewed concerns over Singapore’s entry into casinos.
“Casinos have not even opened yet and there are already tragedies due to gambling, imagine the problems in future once they have” was a general comment.
One blogger said, “I think this is just the prelude. When the two casinos open, we will get to read of more such stories.”
Published family photographs with two lovely children stirred much public sympathy, reviving some of the old feelings towards casinos.
However, it is tempered by a marked change in the public mood after the city came through a severe economic crisis that decimated jobs and wages.
The weak employment market with many people still unable to find work has significantly blurred the animosity towards the casinos. They are now relied upon to generate employment.
In the next few months, Singa¬pore’s history will move into a new phase. This will happen when two huge dazzling casino resorts – led by a Malaysian conglomerate – open their doors.
First is Genting’s S$6.6b “Resorts World at Sen¬tosa,” which will have the distinction of becoming Singapore’s first casino, edging out Marina Bay Sands, when it opens in January.
The Las Vegas Sands’ $5.2bil project, situated at the financial centre, will follow suit in April.
The opening of casinos, which Lee Kuan Yew once said was possible only “over my dead body,” is timely as Singapore ponders over its future in an uncertain new world.
Almost half the cabinet ministers are reluctant supporters.
The concern is that the economic benefits will come at the expense of morality and a possible rise in bankruptcy, family break-up and suicide.
It is an ironic debate. Singaporeans – the majority being ethnic Chinese – are far from being averse to gambling.
Numbering five million, the people gamble away S$6bil or S$1,200 per person a year – nearly twice what the country spends on health care.
In addition, Singaporeans spend some S$280mil in Malaysia’s Genting Highlands, and an inestimable amount in other countries and on board cruise ships.
A government survey showed that 54% of residents over the age of 18 have taken part in some form of gambling over the previous 12 months. The ratio of pathological gamblers is however low, being under 1.6%.
The arrival of casino gambling, like most things in Singapore, is based on economic considerations.
A rising number of cities in Asia are moving into it, and Singapore fears losing out.
With few natural resources, the Republic is being reshaped by global changes, particularly in the US, its biggest trade partner.
Some of its catalysts for growth and prosperity are now facing serious pressures, forcing the city to depend on new sources of growth.
It is a tough proposition: Singapore is too small to develop many attractive tourist spots.
“Tourism is a major area because it capitalises on Asia’s rising middle class – and the casinos are a crucial part of it,” said an economist.
Each of the new casinos will employ about 10,000 workers. They are also expected to spin off related businesses that will need 35,000 more workers.
“Our problem is we do not have enough Singaporeans to fill all the jobs and so will have to depend on foreign workers,” said an official.
The two casinos – at a combined cost of S$12bil – have a franchise to operate for 10 years.
Lee Kuan Yew had – after visiting Las Vegas – said there would be a few more casinos.
That was before the economic crisis, and it is not known if this remains the case. Some analysts are pessimistic about the prospects of the two in the next few years.
Marina Bay Sands has reduced its projected visitors and profits. However, both remain optimistic over their long-term future.
If Macau and Las Vegas are any indication, the clouds have not yet lifted, although the local economy has significantly improved in the past few months.
Casinos are likely to have an important economic role in the world, especially in Asia.
Angela Ho, daughter of Macau’s once-casino “king” Stanley Ho, said: “The market is huge, and I think everybody knows that Asian players are the most sought-after ... because they spend the most money and are the most fervent gamblers.”
The government has taken steps to minimise the potential social fallout of excessive gambling.
Singaporeans have to pay S$100 a day or S$2,000 a year to be admitted to the casinos.
A list of habitual gamblers has been drawn up – either voluntarily or reported by spouses – and they will be banned from entering the casinos.
But these are merely measures to reduce – not prevent – instances of individual disaster.
(This was published in The Star, Malaysia).
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...And Singapore’s history
In a few months two casinos – costing $12b – will start operation to herald in a new phase, but a little jitter lingers about the potential impact. By Seah Chiang Nee.
Nov 14, 2009
THE family tragedy of a restaurant manager who killed his two children and set fire to the flat before jumping to his death has become a national talking point.
Some neighbours saw Ng Chee Kiang, 39, behaving oddly on the 12th floor ledge before falling over.
Unknown to anyone, he had just suffocated his two children, aged 5 and 3, after sending the maid out on an errand. The wife was at work.
News reports said the manager of a Japanese food company who earned S$5,000 monthly owed loan sharks some S$200,000 as a result of overspending, gambling and share speculation.
Ng was also a bankrupt who was on the verge of divorce and a custody fight over his children.
Coming only two months before the first of two multibillion-dollar casinos opens, the family tragedy has renewed concerns over Singapore’s entry into casinos.
“Casinos have not even opened yet and there are already tragedies due to gambling, imagine the problems in future once they have” was a general comment.
One blogger said, “I think this is just the prelude. When the two casinos open, we will get to read of more such stories.”
Published family photographs with two lovely children stirred much public sympathy, reviving some of the old feelings towards casinos.
However, it is tempered by a marked change in the public mood after the city came through a severe economic crisis that decimated jobs and wages.
The weak employment market with many people still unable to find work has significantly blurred the animosity towards the casinos. They are now relied upon to generate employment.
In the next few months, Singa¬pore’s history will move into a new phase. This will happen when two huge dazzling casino resorts – led by a Malaysian conglomerate – open their doors.
First is Genting’s S$6.6b “Resorts World at Sen¬tosa,” which will have the distinction of becoming Singapore’s first casino, edging out Marina Bay Sands, when it opens in January.
The Las Vegas Sands’ $5.2bil project, situated at the financial centre, will follow suit in April.
The opening of casinos, which Lee Kuan Yew once said was possible only “over my dead body,” is timely as Singapore ponders over its future in an uncertain new world.
Almost half the cabinet ministers are reluctant supporters.
The concern is that the economic benefits will come at the expense of morality and a possible rise in bankruptcy, family break-up and suicide.
It is an ironic debate. Singaporeans – the majority being ethnic Chinese – are far from being averse to gambling.
Numbering five million, the people gamble away S$6bil or S$1,200 per person a year – nearly twice what the country spends on health care.
In addition, Singaporeans spend some S$280mil in Malaysia’s Genting Highlands, and an inestimable amount in other countries and on board cruise ships.
A government survey showed that 54% of residents over the age of 18 have taken part in some form of gambling over the previous 12 months. The ratio of pathological gamblers is however low, being under 1.6%.
The arrival of casino gambling, like most things in Singapore, is based on economic considerations.
A rising number of cities in Asia are moving into it, and Singapore fears losing out.
With few natural resources, the Republic is being reshaped by global changes, particularly in the US, its biggest trade partner.
Some of its catalysts for growth and prosperity are now facing serious pressures, forcing the city to depend on new sources of growth.
It is a tough proposition: Singapore is too small to develop many attractive tourist spots.
“Tourism is a major area because it capitalises on Asia’s rising middle class – and the casinos are a crucial part of it,” said an economist.
Each of the new casinos will employ about 10,000 workers. They are also expected to spin off related businesses that will need 35,000 more workers.
“Our problem is we do not have enough Singaporeans to fill all the jobs and so will have to depend on foreign workers,” said an official.
The two casinos – at a combined cost of S$12bil – have a franchise to operate for 10 years.
Lee Kuan Yew had – after visiting Las Vegas – said there would be a few more casinos.
That was before the economic crisis, and it is not known if this remains the case. Some analysts are pessimistic about the prospects of the two in the next few years.
Marina Bay Sands has reduced its projected visitors and profits. However, both remain optimistic over their long-term future.
If Macau and Las Vegas are any indication, the clouds have not yet lifted, although the local economy has significantly improved in the past few months.
Casinos are likely to have an important economic role in the world, especially in Asia.
Angela Ho, daughter of Macau’s once-casino “king” Stanley Ho, said: “The market is huge, and I think everybody knows that Asian players are the most sought-after ... because they spend the most money and are the most fervent gamblers.”
The government has taken steps to minimise the potential social fallout of excessive gambling.
Singaporeans have to pay S$100 a day or S$2,000 a year to be admitted to the casinos.
A list of habitual gamblers has been drawn up – either voluntarily or reported by spouses – and they will be banned from entering the casinos.
But these are merely measures to reduce – not prevent – instances of individual disaster.
(This was published in The Star, Malaysia).
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