Casino To Open Before IR Opens Woh!

[makapaaa]

Jan 9, 2010

Will casino open before IR is fully operational?

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IN 2005, when Prime Minister Lee Hsien Loong explained the decision to develop the integrated resorts (IRs), he emphasised that these developments would have all kinds of amenities beyond a casino.
The Government was convinced it had to overturn its longstanding policy on casinos after it saw the high quality of proposals and considered the economic benefits - investments, jobs and boost to economy - the IRs would bring about.
The Government would probably have decided differently had the proposals been less attractive.
PM Lee also assured the public that each casino would take up just 3 to 5 per cent of the total floor area and the Government would implement safeguards to limit the social impact of gambling.
Four years later, as we wait for the IRs to open, the challenge is for the Government and investors to fulfil the promise made to the people.
Recently, when I attended an event at Resorts World Sentosa, I noticed a huge plot of undeveloped land beside the new buildings. According to reports, that plot will house the biggest oceanarium in the world, among other exciting amenities that would form the IR that won the bid.
With the IR slated to open soon - though almost certainly not in its entirety - the question is whether the casino will be allowed to operate before the IR is fully operational.
I would like to ask the Government when the IRs will be completed in their entirety. Would the Government allow the investors to operate the casinos before they delivered what they promised when they won the bid?
What safeguards has the Government put in place to ensure that the investors would develop the IRs in their entirety?
Tan Siow Wee

 

[cleareyes]

Jan 9, 2010

Will casino open before IR is fully operational?

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IN 2005, when Prime Minister Lee Hsien Loong explained the decision to develop the integrated resorts (IRs), he emphasised that these developments would have all kinds of amenities beyond a casino.
The Government was convinced it had to overturn its longstanding policy on casinos after it saw the high quality of proposals and considered the economic benefits - investments, jobs and boost to economy - the IRs would bring about.
The Government would probably have decided differently had the proposals been less attractive.
PM Lee also assured the public that each casino would take up just 3 to 5 per cent of the total floor area and the Government would implement safeguards to limit the social impact of gambling.
Four years later, as we wait for the IRs to open, the challenge is for the Government and investors to fulfil the promise made to the people.
Recently, when I attended an event at Resorts World Sentosa, I noticed a huge plot of undeveloped land beside the new buildings. According to reports, that plot will house the biggest oceanarium in the world, among other exciting amenities that would form the IR that won the bid.
With the IR slated to open soon - though almost certainly not in its entirety - the question is whether the casino will be allowed to operate before the IR is fully operational.
I would like to ask the Government when the IRs will be completed in their entirety. Would the Government allow the investors to operate the casinos before they delivered what they promised when they won the bid?
What safeguards has the Government put in place to ensure that the investors would develop the IRs in their entirety?
Tan Siow Wee

and your point is?

 

[makapaaa]

and your point is?

Unless you're really stupid, it's not hard to figure it out.

 

[scroobal]

It has now evolved to be become a national trait - writing long letters, mumbling thru, misleading titles/captions etc with the central issue buried somewhere.

The Government wanted casinos to fuel the economy. To please George Yeo and few dissidents in cabinet and to pacify expected resistance from society, they decide on IR as a cover and a bargain - so they called it IR. Singaporeans have well conditoned by the press that we all call it IR and not casino.

Its like calling a massage parlour a Health Centre.

and your point is?

 

[Ned Kelley]

Jan 9, 2010

Will casino open before IR is fully operational?

<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
IN 2005, when Prime Minister Lee Hsien Loong explained the decision to develop the integrated resorts (IRs), he emphasised that these developments would have all kinds of amenities beyond a casino.
The Government was convinced it had to overturn its longstanding policy on casinos after it saw the high quality of proposals and considered the economic benefits - investments, jobs and boost to economy - the IRs would bring about.
The Government would probably have decided differently had the proposals been less attractive.
PM Lee also assured the public that each casino would take up just 3 to 5 per cent of the total floor area and the Government would implement safeguards to limit the social impact of gambling.
Four years later, as we wait for the IRs to open, the challenge is for the Government and investors to fulfil the promise made to the people.
Recently, when I attended an event at Resorts World Sentosa, I noticed a huge plot of undeveloped land beside the new buildings. According to reports, that plot will house the biggest oceanarium in the world, among other exciting amenities that would form the IR that won the bid.
With the IR slated to open soon - though almost certainly not in its entirety - the question is whether the casino will be allowed to operate before the IR is fully operational.
I would like to ask the Government when the IRs will be completed in their entirety. Would the Government allow the investors to operate the casinos before they delivered what they promised when they won the bid?
What safeguards has the Government put in place to ensure that the investors would develop the IRs in their entirety?
Tan Siow Wee

Yalor double standard persist again

 

[ahleebabasingaporethief]

Told you people there is a problem.......

In recent months, the LIM family sold most of their stakes in RW to venture into other gaming worldwide including with the HO family in Macau.

Could this be the sticking point in the casino license being withheld?

SIR Ho was chastised by our MOST SENIOR only so many times; as a gangster.

Lim family sells Genting stake
May 27, 2009 Wednesday, 12:08 PM

Goh Eng Yeow remarks on the sharp drop in Genting’s share price. <hr style="border-style: solid; border-color: rgb(204, 204, 204); border-width: 1px 0pt 0pt; margin: 15px 0pt; height: 0pt;">

IT IS interesting to note that the Lim Family, which controls the Genting casino in Malaysia, has decided to sell their entire 9 per cent direct stake in Genting International here in Singapore.
The sum involved is not to be sneezed at – about $614.9 million – going by the sale price of 72 cents for 854 million shares reported to the Singapore Exchange this morning.
This makes the sale the second largest deal in a week which also saw Keppel Corp selling off its 44.5 per cent stake in Singapore Petroleum Company for $1.67 billion.
The Lim family will continue to control Genting International through its KL-listed flag-ship firm, Genting Bhd.
But the sale will certainly galvanise further debate of the current stock market rally’s sustainability, since major players seem to be making hay in the sun by getting out of the game altogether.
When it hit an intra-day high of 91 cents yesterday, the stock had swung back to a level last seen two years ago, when market conditions were euphoric and the firm was on a winning streak after winning the bid for the Sentosa integrated resort.
But as the headline of a OCBC Research report suggested yesterday, investors might simply be placing their bets too early – as they gambled on the optimism which would surround the opening of the Sentosa resort only next year.
"Genting’s UK operations could continue to languish, given the dismal economic picture there…and realistically, we think that the turnaround would probably come in 2011," it added.
In the meantime, it observed that the stock had surged 120 per cent from a low of 41 cents in February.
But with the placement news, Genting International has fallen 16 per cent in the space of two hours.
I suppose the lesson to be learnt here is that if the story is too good to be true, it is better to take it with a pinch of salt.


Tags: genting, ir, money​

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Re: Resorts World opening 20 Jan
<hr style="color: rgb(152, 152, 152); background-color: rgb(152, 152, 152);" size="1"> <!-- / icon and title --> <!-- message --> ..........
There is also speculation the Lims raised the cash in an effort to purchase MGM Mirage’s 50% stake in MGM Grand Macau, a joint venture with Pansy Ho, daughter of Stanley Ho, one of Macau’s biggest casino operators.
MGM Mirage was told by New Jersey gaming regulators last week that its partner in Macau was unsuitable and it should “disengage” itself from that partner.


Stanley Ho had made an initial investment in MGM Grand Macau, and he was suspected of ties with organised crime, which he had denied.
It may be difficult for Genting Singapore to acquire that stake in Macau as the company was questioned by Singaporean authorities of a proposed joint venture with Stanley Ho when it bid for the integrated resort (IR) project in Singapore. Genting Singapore pulled out of that joint venture before it secured the IR project.
For that reason, it was speculated the Lim family raised cash to directly bid for MGM Grand Macau instead of through Genting Singapore.

GENTING : [Stock Watch] [News]
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[cleareyes]

It has now evolved to be become a national trait - writing long letters, mumbling thru, misleading titles/captions etc with the central issue buried somewhere.

The Government wanted casinos to fuel the economy. To please George Yeo and few dissidents in cabinet and to pacify expected resistance from society, they decide on IR as a cover and a bargain - so they called it IR. Singaporeans have well conditoned by the press that we all call it IR and not casino.

Its like calling a massage parlour a Health Centre.

That is what Im saying.

Some jackass just want to put up some crappy post, ranting, rumble and grumble but make no point and could answer nothing. So what is the point?

The casino has its ills, but it does has it pros too. and seriously, with the lack of economic depth, putting like a casino will not harm our economy but add more fuel to push it abit further.

Will the new resort world made as much money as the casino? Honestly i dont think so.

 

[BusNo64]

Jan 9, 2010

Will casino open before IR is fully operational?

<!-- by line --><!-- end by line -->
<!-- end left side bar --><!-- story content : start -->
IN 2005, when Prime Minister Lee Hsien Loong explained the decision to develop the integrated resorts (IRs), he emphasised that these developments would have all kinds of amenities beyond a casino.
The Government was convinced it had to overturn its longstanding policy on casinos after it saw the high quality of proposals and considered the economic benefits - investments, jobs and boost to economy - the IRs would bring about.
The Government would probably have decided differently had the proposals been less attractive.
PM Lee also assured the public that each casino would take up just 3 to 5 per cent of the total floor area and the Government would implement safeguards to limit the social impact of gambling.
Four years later, as we wait for the IRs to open, the challenge is for the Government and investors to fulfil the promise made to the people.
Recently, when I attended an event at Resorts World Sentosa, I noticed a huge plot of undeveloped land beside the new buildings. According to reports, that plot will house the biggest oceanarium in the world, among other exciting amenities that would form the IR that won the bid.
With the IR slated to open soon - though almost certainly not in its entirety - the question is whether the casino will be allowed to operate before the IR is fully operational.
I would like to ask the Government when the IRs will be completed in their entirety. Would the Government allow the investors to operate the casinos before they delivered what they promised when they won the bid?
What safeguards has the Government put in place to ensure that the investors would develop the IRs in their entirety?
Tan Siow Wee

Great post!

 

[myfoot123]

Resort world has been boycott by me. So I won't be interested to know whether they have the casino license or which hotels they have opened. For those who are curious, prepare to be greeted by many foreign staff employed by RS, you might not see much of Singaporeans since RS is anti-Singapore workers.

 

[Glaringly]

Sentosa is already a resort. So, just need to build the casino and hotels, and there you are an IR.

That piece of vacant land, don''t count on it another resort, perhaps another casino.

 

[Unrepented]

This is cashflow management. Need money sell the stocks at profit, since they still have management control through another mechansim. Then one day don't know why stock price fall then buy back if required. Therefore, the action of selling their shares is not conclusive lah.