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Gentings Sentosa set to fail
- Thread starter Merl Haggard
- Start date
LOL, 5 Singaporeans caught entering without paying the levy, sibe jialat... so desperate meh?
will they be caned? what's the punishment?
or will they kena loudhailer?
hahaha
No lah. The whole security team should be sacked, first for allowing these 5 to sneak in. Second and worst of all is to catch them and report.
Bloody hell, they are coming in to loose money to the casino.
I think he included 1/2 the population of China because he sees a lot of PRCs FTs in Singapore !!!! The next time he may add in another 200 millions of Banglas!
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My feel is that casinos are money making ventures. In the long haul it should be a good investment. It might not be the VVIP casino as envisioned but should still make money.
Universal Studios easily worth $1 to 1.5B. Based on pe of 10 that is $100M in earnings per year - or $277K a day. Factor in operating cost we have $500K in daily sales needed. If each peron spends $70 (ticket, drinks, toys) they just need 7000 per day. I think that is doable.
They have 1800 hotel rooms at S$500K per room = $1 to 1.5B. If they IPO.
Also remember there is a lot of synergy between hotel, f&B, park concessions (food), security, etc. This should help lower operating costs.
So if they flog off these assets and keep the adult focused entertainment - fine dining, shows and of course GAMING they should be fine.
Of course there is the added support of Gov. It would be slap in the face of Gov if this fails so there will be lots of support - the rental HDB flats is a sign of things to come.
Universal Studios easily worth $1 to 1.5B. Based on pe of 10 that is $100M in earnings per year - or $277K a day. Factor in operating cost we have $500K in daily sales needed. If each peron spends $70 (ticket, drinks, toys) they just need 7000 per day. I think that is doable.
They have 1800 hotel rooms at S$500K per room = $1 to 1.5B. If they IPO.
Also remember there is a lot of synergy between hotel, f&B, park concessions (food), security, etc. This should help lower operating costs.
So if they flog off these assets and keep the adult focused entertainment - fine dining, shows and of course GAMING they should be fine.
Of course there is the added support of Gov. It would be slap in the face of Gov if this fails so there will be lots of support - the rental HDB flats is a sign of things to come.
Z
Zombie
Guest
cost for singapore hotel keep going up
singapore no more shopping paradise
would two casino attract more tourists, would tourists come just because there are casino?
the casino sure mati.
the owner grand daughter is she coming to singapore to pose for photo too?
i want to see.
singapore no more shopping paradise
would two casino attract more tourists, would tourists come just because there are casino?
the casino sure mati.
the owner grand daughter is she coming to singapore to pose for photo too?
i want to see.
Of course agar agar lah. Return on sales looks high because interest not factored in and parks have very high capital cost. Operating cost is less. after all no minimum wage so how much do they need to pay the attendent watching you as you get on the rides. Not much to pay the people to sweep the roads, clean the trash. Over in the US they have union and minimum wage so even if you sweep floor they have to pay you US$80 to $100 a day.
woah... your return on sales is 55.4%
Gentings S'pore share price today plunged to a low of 1.01 and closed at 1.02.
It's a confirmation that the grand-opening of RWS is a total failure!
By tomorrow I expect its share price to break below the Dollar.
It's a confirmation that the grand-opening of RWS is a total failure!
By tomorrow I expect its share price to break below the Dollar.
I tell you hor. Most pple here are just anti-govt and want to see the casinos fail. I have no vested interest other than I want to see the casinos bringing more economic development to Singapore and glam-ing up the local scene.
I have a Singaporean friend who already went in twice and he is paying $100 each time. Why is he so stupid? Dun buy $2000 membership? Reason is he got $$ and these are peanuts to him. He might get the membership when MBS opens and he decides on which casino is better.
My PRC friend lost 20k leow as of today. Is it a good thing? I dun think so but if he is not losing the $$ here, he will be losing it in Macau. I would rather he lose it here and contribute to our tax revenue. BTW, he is staying at the Ritz here and blew 4k on drinks last night.
Is it immoral? Yes! Would I rather he spent the $$ in Macau? No!
I dun know why I have become the casino defender here but all the mis-information are very mischievous, esp Soikee with the nonsense about Lim Kok Thay very disappointed with no customers.
The bloody casino car park was full when I was there just now with my boss (who wants to look see the place but we did not go in the casino). So what gives?
Foreign workers are driving there to enjoy the free food. People taking advantage of the cheap parking there ($6 for 1st hr, $2 every sub hr). Or maybe there are really gamblers happy that the casino is open.
I am not pro-gambling but I like to play 4D, Toto and now maybe a bit of casino playing. I set aside money I am ok to lose. I do not borrow money to gamble. I gamble less than 5% of my monthly salary. I see the $100 levy as entertainment fee for 6-7 hours of fun (although I do not intend to go more than 2-3 times a year - my wife will kill me otherwise).
Anyway, I am no seer and of course, the casino might fail once the CNY period is over and Singaporeans start getting bored with the $100 levy. But I seriously do not think so. I think the PRCs, Indians, Koreans and Indonesians are coming and the results will spur Japan and Taiwan to build their own casinos.
I have some Japanese friends stopping over in Singapore for a couple of days enroute to Gold Coast........ initially they were excited about the casino and wanted me to bring them there...... that was until they saw the news and the BIG BIG photos of the ah nehs and blanglas workers patronising the casino...... they cancelled the RWS trip and instead went to our own CNY celebration cum mini casino at a friend's place. :p
Dear shOUTloud,
First, I have to apologize to you. Hope you don't take what I write here at heart.
In the first place, you don't qualify yourself to be a friend of the PRC who have already lost SGD 20,000 in the casino. Because, a true friend will pull another of his true friend out of the gambling frenzy...
Next, if this rich guy is willing to spend SGD 4K on drinks alone, perhaps he is rich, but it's non of the Singaporean's concern. Yes, he can of course stay in Ritz Carlton, so what's your point?
Rich people should come here and gamble away their wealth?
You are certainly entitled to your views and opinion shOUTloud, and likewise, every tom dick and harry, inclusive of me here are also be entitled on their views, as this is a free forum... may it be right or wrong it doesn't matter.
However, you are certainly contradictory to your views when you say you are NOT PRO-GAMBLING when you are spending 5% of your income on GAMBLING.
Hey, I like to play 4D as well, I enjoy Casinos as well, but when you go read the entire thread pertaining to the Casinos during the last few months, I am sure you will understand why many forum participants here are BOYCOTTING the Casinos, and hope that it fails... there are simply too many injustice happening in Singapore...
Regardless of the Casinos performance, whether good or not, I have already decided to BOYCOTT this Casino, and would not set foot into it, but playing TOTO, 4D, why not? It's a Singaporean kind of thing.
Anyways, I rather see the CASINO fail, as I do not see any good outcome arising from CASINOS, history have proven so many times, the social issues, and problems that comes with it, it's not happening yet, because there have not been too many people losing a Prince's Ransom yet, but when this becomes a norm, get ready for a sharp increase in crime rate, drug addiction, prostitution, etc...
I can sense that you are hoping for SINGAPORE economy to improve, however, with such thwarted way of increasing revenue, the wealth will not be for long, I can assure you. Heard of Karma? Heard of Retribution?
Anyways, I have state my point, and hope that you understand that, SINGAPOREANS do not want their home to be infested with CRIME.... and CASINOS are known to be breeding grounds for CRIME...
I've heard that in Macau, people lost RMB 100 Million a NIGHT! fuck me! Some even lost their two legs when they won MAJONG against GANGSTERS... some lost their lives because they default on the LOAN SHARKS...
It may sound outrageous to some of you, but GAMBLING IS AN ADDICTION, and IT IS A SIN!
I really can't see the rationale behind the $100 levy. If they don't want locals to gamble, they can invest their $$ by setting up casino overseas.
Why set up casinos here at all? Isn't it more effective to restrict the number of visits to the casino by locals?
Say locals can only go to the casino once a month.
and once they go out, they cannot come in again. Isn't this a better solution?
Why set up casinos here at all? Isn't it more effective to restrict the number of visits to the casino by locals?
Say locals can only go to the casino once a month.
and once they go out, they cannot come in again. Isn't this a better solution?
This is just plain silly.
Build 2 casinos and we suddenly expect Singapore to become a glam and happening tourist mecca.
There are so many countries with casinos. Aside from Las Vegas, Atlantic City and Macau, how many tour packages have you seen that tout a visit to the casino as the highlight of the trip?
The only way the casinos can transform Singapore economically is if there is a secret plan to issue lots of casino licenses so that every other 5 star hotel operating in Singapore can have a casino operating on their premises.
As money grubbing as the PAP are, I don't see even them sinking to that level.
The other extreme view that the 2 casinos will collapse is also unlikely to happen. After the initial teething problems have been sorted out, I am sure they will turn out to be reasonably profitable ventures. The levy which is causing all sorts of problems will be circumvented in some clever way. Also those pesky foreign workers who embarassed everyone on the first day will soon find themselves less than welcome.
The creditors who lent money to build the 2 ventures might be in for a rollercoaster ride as the projected returns seem wildly optimisitc. Expect to see cash flow problems and some scares.
The IRs have however become Singapore's equivalent of "too big to fail". If anything seriously happens, we can expect that there would be a quiet, behind the scenes the bailout using Singapore taxpayer monies.
It may sound outrageous to some of you, but GAMBLING IS AN ADDICTION, and IT IS A SIN!
I totally agree with you. Gambling is an addiction. It is a sin. Now that we got that settled, so?
Will it stop people from gambling? The way people are going on, it is as if we just invented gambling at RWS. People has always been gambling on the casino ships, Genting and Macau. The IRs are recognition by the govt that the revenue can be reaped here in Singapore as well. We have 4D and Toto so let's stop being coy about gambling in Singapore.
By all means, boycott the casinos. As you say, it is everyone's right. You have a right to boycott. Good for you. You should discourage your friends from going as well. But I doubt this will make you a popular person.
You are right that casinos can bring in crime, social ills etc etc. I have no dispute with all this.
Anyway, what I object is the constant mischievous mis-information on how badly the casino is doing, how it is going to fail. I am offering you guys an alternative view. As I mention many times, the Indians are coming, the PRCs are coming, the Indonesians are coming. I just heard on the radio - the Aussies are here as well. The casino has opened with a bang, the car park is full at 1pm today and my personal opinion is that it will work.
As you say, free forum, no right or wrong views but purposely giving wrong info should be addressed. It is actually quite tiring to be the casino defender. I do not have Genting shares and they are not giving me commission to type all these crap here.
BTW, you are absolutely right that I am no fren of the PRC. I am his 猪朋狗友. Having said that, he is filthy rich. The way he is gambling is obscene to me and I think it is immoral as well. But he is treating 20k as $200. There is some pain for him but it is not the way we view it. Maybe you can share with me on how to dissuade him from gambling. If you have a formula, we will share it with the social welfare groups worldwide, you will be 功德无量。
Peace to you though. This is good discussion for this forum. Those constant crap spam by ahleebabasingapore are embarrassing if this forum is going to be a forum for proper discussions.
Points to agree with you;
1. GAMBLING is a SIN, expecting more returns with less, expresses GREED, and Greed is a natural human nature, thus, to eradicate GAMBLING totally? NO. (Takes time and effort to eradicate Greedy Nature, and determination)
2. 4D, TOTO, FOOTBALL BETS, these are already NATIONAL GAMBLING legalized, will these be stopped? NO.
3. CASINOS good for the economy? Maybe. Financially, perhaps. Socially? No.
Somethings that I have to point out to you.
Having Principles in life defines you, yourself as a person, and that eventually becomes a habit, and it'll define your character, and your character defines your destiny... Do not be confused with becoming a popular person... Life is not a popularity contest, but it's up to a person's principles that defines he/she as a success.
After being said that,
I have declared to all my family members, and friends that I am boycotting the Casinos in Singapore, and I am asking all my family and (those who I regard as) Friends to boycott the Casino as well.
And I fear not the consequences, and if my family and friends decide to go to the Casino, I will persuade them not to. Should my family or friends be unhappy with my decision, and actions, I will persuade them further and point out the ills of the Casinos.
Let me give you a mathematical probability lesson now. Have you heard of the old Chinese proverb, " Gamble 10 times, 9 times losses" ? This proverb is true. And since you know that you will have 9 chances of losses out of a 1 time win, why do you want to go and lose money?
Next, on the part of social ills, and crimes... You are overlooking this important detail.
Singapore is not like USA, or CHINA, it's a tiny island with about 5 million people.
Because the CRIME or Social Ills have not been happening yet, doesn't mean that it will NOT happen. When the CRIME or SOCIAL ills start to affect the people that you hold dearest? How would you feel? Too late to complain? Too late to close down the Casinos? How about people that you love, your family, your friends being affected by the CRIMES and Social ills??? Is this a small deal? This is the reason why I keep on emphasizing to close down the Casinos... the repercussions are just one time too many!!!
Imagine the FTs that have lost everything... they resort to crime... to pay debts, etc... and when they lost everything... they have got NOTHING to lose! but SINGAPOREANS have got everything to lose, when they lose their life due to CRIME!!!
I got a feeling that you have not traveled enough around the world to understand these details... go to all the casinos in the world, and see it for yourself. If possible, bring all your credit cards, and maximum cash with you... and see for yourself.
If you truly want to be a true friend to your PRC business associate, then first of all, you must be true to yourself first.
And when you are true to yourself, only then you can become a friend of others.
On how to persuade a compulsive gambler to quit gambling...
Just share with him the usual mathematical probability of Gambling " Gamble 10 times, losses 9 times " he will understand... and bring him to other productive fun, like maybe massage, sauna, GYM, Shopping, Snooker, Bowling, Arcade Center, Movies, Hotels, Dining Out, Rental of a Dream CAR to drive for a day (make it a Ferrari, or Lamborghini), the list is limitless...
And if he still want to play... simple, go buy a NINTENDO DS with CASINO games installed and let him play... tell your friend that if he could win fake money in the NINTENDO DS for 100 games of Black Jack or Roulettes, then go play in the Casino... if he lose the fake capital in the game before 100 games, then he should not go.
Tell him about the Gambler's Fallacy. All Gamblers always think that the next round would be their winning round, but no one tells them that their odds against the House is always MUCH LOWER, and the HOUSE ALWAYS WINS.
Tell him stories about people having FAMILY BREAKAGE, Entire Company's fortunes being lost over night... Lost of Lives.... etc...
When you have true concern to your PRC Associate, only then you are deserving of a Friend.
People ONLY listen to people when you are genuinely interested in their welfare. I can assure you that when you can persuade a Gambler into not gambling, you will earn yourself a lifetime friend...
To me if you have frens who cud only lose 20k in a casino, you ain't nothing but a freaking small fry!
Wait till u know of frens who cud afford to lose 1m to 5m on a gambling trip then maybe you can attempt to smell my fart!
If KT Lim did not hand out 10k to 20k in complimentary chips to all his premium players from Star Cruise and Gentings on the
1st night, there wud be not much action in the casino.
I happen to be one of the many hundreds of recipients of a twenty thousand Dollar voucher and b'cos of the FWs invasion,
I've yet to use up my complimentary chips.
Ok lah, you win lah. I am a small fry, only lose a few hundred here and there. Cannot even smell your fart.
I wish you all the best in losing your millions.
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