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[h=2]PM Lee: IRs help Govt to gain revenue and build our image[/h]
October 13th, 2012 |
Author: Editorial
During a dialogue session with business leaders in Sydney yesterday (12 Oct), PM Lee was asked about Singapore’s experience with its 2 integrated resorts (IRs).
Mr Lee said that the 2 IRs “came up at a good time” in Singapore.after the financial crisis (in 2008).
He said, “Business-wise, they’ve done very well; revenue-wise, the Government has gained.”
“There’s some offset because our horse racing isn’t as exciting as it used to be, people have gone to gamble in casinos instead, but overall Government revenue has gone up.”
He also said that the IRs have “done a lot for our skyline”.
He said, “From an urban planning point of view, it’s done a lot for our skyline, the Marina Bay Sands with the three towers as well as the sky pool is recognised all over the world, I think. That’s a great plus. It’s helped our image enormously.”
However, he noted that “very extreme cases” of compulsive gambling have shown a “slight” increase.
“We are hoping that things will stabilise but it will take time,” he said.
About a quarter of visitors to Singapore’s 2 IRs are locals.
Last year, former Minister without portfolio Mr Lim Boon Heng told the media that the Cabinet was divided in the heated cabinet debate in 2005 on the decision to allow two IRs operating in Singapore. While speaking on the matter, he suddenly broke down. With tears welling up in his eyes, he said, “For me, it was a very difficult process to accept the casinos. I almost couldn’t make my speech in Parliament.” In any case, he said that he finally agreed to the IRs because they would create 35,000 jobs for Singaporeans. This was what he said before retiring last year.
However, Mr Lee did not mention how many jobs were taken up by Singaporeans in the 2 IRs.
Mr Lee wrapped up his visit to Australia, underscoring the strong relations between the people of both countries.
There are some 50,000 Singaporeans living in Australia and about 20,000 Australians in Singapore.
.
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During a dialogue session with business leaders in Sydney yesterday (12 Oct), PM Lee was asked about Singapore’s experience with its 2 integrated resorts (IRs).
Mr Lee said that the 2 IRs “came up at a good time” in Singapore.after the financial crisis (in 2008).
He said, “Business-wise, they’ve done very well; revenue-wise, the Government has gained.”
“There’s some offset because our horse racing isn’t as exciting as it used to be, people have gone to gamble in casinos instead, but overall Government revenue has gone up.”
He also said that the IRs have “done a lot for our skyline”.
He said, “From an urban planning point of view, it’s done a lot for our skyline, the Marina Bay Sands with the three towers as well as the sky pool is recognised all over the world, I think. That’s a great plus. It’s helped our image enormously.”
However, he noted that “very extreme cases” of compulsive gambling have shown a “slight” increase.
“We are hoping that things will stabilise but it will take time,” he said.
About a quarter of visitors to Singapore’s 2 IRs are locals.
Last year, former Minister without portfolio Mr Lim Boon Heng told the media that the Cabinet was divided in the heated cabinet debate in 2005 on the decision to allow two IRs operating in Singapore. While speaking on the matter, he suddenly broke down. With tears welling up in his eyes, he said, “For me, it was a very difficult process to accept the casinos. I almost couldn’t make my speech in Parliament.” In any case, he said that he finally agreed to the IRs because they would create 35,000 jobs for Singaporeans. This was what he said before retiring last year.
However, Mr Lee did not mention how many jobs were taken up by Singaporeans in the 2 IRs.
Mr Lee wrapped up his visit to Australia, underscoring the strong relations between the people of both countries.
There are some 50,000 Singaporeans living in Australia and about 20,000 Australians in Singapore.
.
Join our TRE facebook page here: http://www.facebook.com/TREmeritus
