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Coffeeshop Chit Chat - Another cash cow for the government</TD><TD id=msgunetc noWrap align=right> </TD></TR></TBODY></TABLE><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>Kiasu Seng (TanKimSeng) <NOBR></NOBR> </TD><TD class=msgDate width="30%" noWrap align=right>1:55 am </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> (1 of 2) </TD></TR></TBODY></TABLE></TD></TR><TR><TD class=msgleft rowSpan=4 width="1%"> </TD><TD class=wintiny noWrap align=right>35349.1 </TD></TR><TR><TD height=8></TD></TR><TR><TD class=msgtxt>Singapore: Sands June 28, 2010 3:56 PM by Ray Poirier
After less than a fiscal quarter of operation, Marina Bay Sands, the $5.5 billion casino complex built in Singapore by Las Vegas Sands Corp. (LVS), could be attracting 150,000 daily when the project is fully completed in 2012.
That was the opinion of some analysts last week when current business activity, involving the daily average of 25,000 customers was extrapolated over the construction period.
"If these numbers are really achieved," said one analyst, "you could see a more sizeable impact on Singapore’s GDP."
On Monday, the Singapore Tourism Board announced that tourism had jumped 30.3 percent, year-over-year, during the month of May, complementing the analysts’ gaming predictions.
There appears to be no doubt in the mind of Las Vegas Sands’ top man, Sheldon Adelson. He has even predicted that the company could recoup its development cost within the next five years.
"In terms of income," he was quoted as saying last week, "we’re doing better than what the analysts are suggesting. My confidence has increased."
Marina Bay Sands shares the new gaming venue of Singapore with Gensing’s Sentosa Resorts World. By law, only the two casinos will be permitted to operate in the city/state.
To show the attraction of the two properties, Singaporeans were discouraged to enter the gambling properties by being forced to pay the government an admission fee of S$100. Despite operating for only a few months, the casinos have generated S$70 million in admission fees from so-called locals.
Sheldon Adelson described the Singapore venture as "sailing in unchartered waters, and we see beautiful waters, calm waters, we see plentiful waters, that we didn’t imagine it was there before."
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After less than a fiscal quarter of operation, Marina Bay Sands, the $5.5 billion casino complex built in Singapore by Las Vegas Sands Corp. (LVS), could be attracting 150,000 daily when the project is fully completed in 2012.
That was the opinion of some analysts last week when current business activity, involving the daily average of 25,000 customers was extrapolated over the construction period.
"If these numbers are really achieved," said one analyst, "you could see a more sizeable impact on Singapore’s GDP."
On Monday, the Singapore Tourism Board announced that tourism had jumped 30.3 percent, year-over-year, during the month of May, complementing the analysts’ gaming predictions.
There appears to be no doubt in the mind of Las Vegas Sands’ top man, Sheldon Adelson. He has even predicted that the company could recoup its development cost within the next five years.
"In terms of income," he was quoted as saying last week, "we’re doing better than what the analysts are suggesting. My confidence has increased."
Marina Bay Sands shares the new gaming venue of Singapore with Gensing’s Sentosa Resorts World. By law, only the two casinos will be permitted to operate in the city/state.
To show the attraction of the two properties, Singaporeans were discouraged to enter the gambling properties by being forced to pay the government an admission fee of S$100. Despite operating for only a few months, the casinos have generated S$70 million in admission fees from so-called locals.
Sheldon Adelson described the Singapore venture as "sailing in unchartered waters, and we see beautiful waters, calm waters, we see plentiful waters, that we didn’t imagine it was there before."
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