New Singapore casinos boost local economoy

The decision by the Singapore government to allow carefully regulated and restricted land casino operations is already delivering fruits in the form of additional tourism and inflows of cash, reports eGlobal Travel News.

The number of tourist arrivals in a single month exceeded one million for the first time in July and the lure of casinos is believed to have had much to do with the record figure, the publication reveals this week. One million arrivals is equivalent to one fifth of Singapore’s total population - and that in a single month.

The city state uses the term Integrated Resort to refer to its two casino-based holiday resorts, which also include shopping malls, convention centres and theme-park entertainment. Marina Bay Sands and Resorts World Sentosa are the first casinos in the country and both started up this year.

Since then Resorts World Sentosa reported revenues of SGD636.5 million in the three months to June, and the casino complexes are expected to contribute about USD1.5 billion to Singapore’s economy by the end of 2010.

Singapore has set a target of between 11.5 million and 12.5 million visitors this year.

Source: InfoPowa News