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Tuesday, 3 April 2018

Benefit from the casino model in singapore

Citizens and Singaporean residents are prohibited from entering the casino if they are in bankruptcy, have defaulted or are receiving government assistance. The unemployed are dependent on short-term and medium-term government subsidies; People who are renting state-owned housing at preferential rents but are owing homes for six months or more are also prohibited from entering the casino.

While lotteries and sports betting have been allowed in Singapore for more than 40 years, casinos are only allowed to operate legally in Singapore after the Casino Control Act was passed on June 1. -2006.

To open two casinos for economic gain

The idea of ​​legalizing the casino was proposed by Minister of Industry and Commerce George Yeo in 2005. At first, this idea sounded radical and unreasonable for a conservative country like Singapore. At the same time, Singaporean leaders have made strong claims to dismiss the proposal because of the concern that the social impact of the casino would be heavy and appease any economic gain. But then Prime Minister Lee Hsien Loong said it was necessary to consider the proposal and propose a study on how to build a casino and control the social problems created by the casino.

Considering, on April 18, 2014, the Singapore government lifted the casino ban and by 2006 introduced the Casino Control Act. Casino Control Act limits the number of casino in Singapore to a maximum of 2 until April 2017 when the limitation period ends.
In the Marina Bay Sand casino - Singapore

The law requires companies wishing to open a casino in Singapore to build integrated resorts, including multi-disciplinary businesses such as hotels, entertainment, shopping, dining ... combined with casino.

After the tender was opened in 2005, the two corporations were selected to build integrated resorts with casinos including Genting Singapore (Singapore) and Las Vegas Sands (USA). Genting Singapore has built Resorts World Sentosa (RWS) at a cost of nearly S $ 6.6 billion (S $ 1 equivalent to US $ 15,900), while Las Vegas Sands has invested US $ 8 billion la Singapore for Marina Bay Sands (MBS) integrated resort.

Two RWS resorts and MBS opened in 2010. In 2011, MBS and RWS announced total casino revenues of $ 5.42 billion. In 2011, 55 casinos in the Las Vegas Strip, Nevada (USA) only totaled more than $ 6 billion.

According to the Ministry of Commerce and Industry, MBS and RWS have created more than 40,000 jobs in the retail, catering and transportation sectors.
Benefit from the casino model in singapore
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