Singapore’s Casinos Will ‘Flop’

[pegasus]

This Hongkong Business man is saying openly what most Singaporeons , except the goverment, already knows.


Hang Lung Properties’ Chan Says Singapore’s Casinos Will ‘Flop’
2009-09-10 05:20:36.882 GMT

By Chia-Peck Wong and Bernard Lo
Sept. 10 (Bloomberg) -- Ronnie Chan, chairman of Hang Lung Properties Ltd., Hong Kong’s fifth-biggest developer by market value, said the two casino-resorts in Singapore will fail because they won’t be able to attract high-rollers. Las Vegas Sands Corp., the casino company controlled by
billionaire Sheldon Adelson, and Genting Singapore Plc, a unit of Asia’s biggest listed gambling operator, are building Singapore’s first two casinos.

Chan commented after attending the Bloomberg Leadership
Forum in Hong Kong.

“The big rollers are what make money in casinos, they will never come to Singapore, it’s a family entertainment” location. “You think big-rollers will go to Singapore where they have teeth and fangs coming out sideways? There are too many rules. I was in Sentosa island, I really think that it’s going to be a flop.

“The whole integrated entertainment industry, I’m worried for them. The good thing about Singapore is that if you flop, you’re given a second chance.”

 

[shOUTloud]

Does Ronnie Chan really know about the gaming industry? I am not familiar with the industry as well and I am no big fuck like Ronnie Chan.

But I always thought casinos were always about volume. Cos the house take a cut from every bet through the odds, the more pple bet, the more they make. The more the bets are spread, the safer the house is.

The idea that you can only make money from high rollers is based on a marketing strategy that caters to only one market segment.

 

[Char_Azn]

The guy probably doesn't know anything about the Billions of Illegal Indon money park in SG. The Indons will probably come here throw some money at the Casinos and go home tell their government they loss all here. It's an elaborated money laundering service by the SG government.

 

[saratogas]

I heard from my friend, Genting is facing some financial difficulties in Mudland so they may be sued! Sinkapore Genting may be affected?

Genting now trading at $1.13 so it will lao sai soon?

 

[Wang Ye]

Still too early to tell. From the very start the whole idea was making $$ from gambling. The whole intergrated resort idea was just a smoke screen to make it seem that Govt has not totally abandoned it's morality stand.

Besides, for all we know the gambling industry may just be a smoke screen to clean up dirty $$.

 

[Gallego99]

Does Ronnie Chan really know about the gaming industry? I am not familiar with the industry as well and I am no big fuck like Ronnie Chan.

But I always thought casinos were always about volume. Cos the house take a cut from every bet through the odds, the more pple bet, the more they make. The more the bets are spread, the safer the house is.

The idea that you can only make money from high rollers is based on a marketing strategy that caters to only one market segment.

High rollers do make a big difference. Why do you think they offer private jets and seven star accomodation to these chaps?

 

[shOUTloud]

High rollers do make a big difference. Why do you think they offer private jets and seven star accomodation to these chaps?

fair enough... but does the big rollers make and break the casinos?

 

[poore]

i think he got a point...a high roller can afford to lose a few millions a night and not even be bothered..they jus want the entertainment,,maybe they even wanted to lose,,,to show ppl they can afford to lose and not even care.

maybe 1 high roller=a few thousands cheapskate who only waste space....

hmmm...maybe i shd not go and waste space as well when it opens....

 

[johnny333]

But I always thought casinos were always about volume. Cos the house take a cut from every bet through the odds, the more pple bet, the more they make. The more the bets are spread, the safer the house is.

Spore is just not attractive to "volume" tourists

Look at how expensive the hotels & our airports are. After spending on expensive taxis, food, ... They are not going to have musch $$$ to gamble with.

 

[halsey02]

Spore is just not attractive to "volume" tourists

Look at how expensive the hotels & our airports are. After spending on expensive taxis, food, ... They are not going to have musch $$$ to gamble with.

The caSINoes are for our high valued, Indonesian's kawans, Malaysian Kawans, Mynamar friends, PRC guag xi's...whatever to roll their monies here...rolling, rolling...keep the dice roliing....

 

[pegasus]

Singapore can reaisticaly only bank primarily on the Indons, not so much on the Chinese. The true blue die hard mainland Chinese gambler will go to macau so Singapore can wait long long. Only the low clsss trash comes to Sin from china..

So here is the crux of the matter. Do you think that the Indons will stand by and let their hordes go to the casinos in Singapore and not do anything about it? No way. This is not a Suharto kawan kawan regime. If SBY sees the leakage and there is a public outcry in Indon, you can bet your bottom dollar they will do something to plug this. Dont undererstimate them this time round.

Casinos in Singapore are too vulnerable. They shd have done the smart thing from the very beginning and offered shares in the casinos to the goverments of Indon and Malaysia.

 

[johnny333]

They shd have done the smart thing from the very beginning and offered shares in the casinos to the goverments of Indon and Malaysia.

You think LKY & the familee want to share anything

He's not even willing to share what belongs to the citizens of Spore i.e CPF

 

[ahleebabasingaporethief]

From what I hear, they WILL fail.

But not the reasons given by this guy. He cannot and will not tell you the REAL reasons. But fail it will.

 

[makapaaa]

>>>The good thing about Singapore is that if you flop, you’re given a second chance.<<<

I agree! *hee*hee*​

 

[blueblobster]

Does Ronnie Chan really know about the gaming industry? I am not familiar with the industry as well and I am no big fuck like Ronnie Chan.

But I always thought casinos were always about volume. Cos the house take a cut from every bet through the odds, the more pple bet, the more they make. The more the bets are spread, the safer the house is.

The idea that you can only make money from high rollers is based on a marketing strategy that caters to only one market segment.

You are right about the volume. But trust me. The volume comes from the high rollers. One high roller will easily beat 100 small players combined. Plus the high roller has the ammo to come back for more. I work in an industry that uses a similar concept.

 

[SotongMee]

SSshhhh....don't be too loud, skali you break the lobang, billions invested will be lugi.

The guy probably doesn't know anything about the Billions of Illegal Indon money park in SG. The Indons will probably come here throw some money at the Casinos and go home tell their government they loss all here. It's an elaborated money laundering service by the SG government.

 

[swampthing]

I think the Indonesian whales will come; and the slots are also known for cleaning out people's pockets.

Anyway if do badly just lower local fee lor. Then the locals will come and give their money to the MIW again.

 

[Maverick01]

unlimited chance in this case...

>>>The good thing about Singapore is that if you flop, you’re given a second chance.<<<

I agree! *hee*hee*​

 

[Wang Ye]

You think LKY & the familee want to share anything

He's not even willing to share what belongs to the citizens of Spore i.e CPF

Oei! LKY and familee very generous hor! Always sharing the problems that they create with the rest of Singapore.

 

[moneyfacepap]

Okie, we start of with 500 high rollers.

In the law of averages, 50 percent will lose their pants in the first year.

2nd year, we have 250. 3rd year-125 4th year-62 and 5th year-31.

The casino will be closed on the 6th year.

hehe...

By then lee kuan yew is dead.