Friday, April 29, 2005

BusinessWeek weighs in on the Casino Decision

The benefits could be substantial. The two casino resorts -- one on reclaimed land near downtown and the second on Sentosa Island -- are together expected to cost as much as $5 billion. The casinos would add 0.5% per year to Singapore's GDP during the three-year construction phase and at least 0.4% annually once they open, Merrill estimates. By some estimates, the casinos could boost government revenues by $1 billion annually within five years.

... Time will tell whether those fears are borne out. But perhaps the level of debate is the true sign that Singapore is letting its hair down.
Interestingly, the article states the opening year as 2008 instead of 2009. The faster the better, I say, since the decision has already been made, and there is a competitive advantage to opening early. Opening now would be best. Pity about the space-time continuum.

[Source: Assif Shameen, BusinessWeek, May 2 Edition]