Marina Bay Sands and Resort Casino, the first ever casino in Singapore, will be constructed in downtown Marina Bay. The largest casino firm by market value, Las Vegas Sands, has bested three other casino industry rivals to win the casino deal.
Right now, Las Vegas Sands is in the final design of the US $3.6 billion facility. The construction of hotel towers, game arcades and three hundred convention rooms will start in the latter part of the year and it is expected to open in 2009.
According to Prime Minister Lee Hsien Loong last April, the projected casino is a reversal of a ban on casinos. With the new casino, Singapore will have the same buzz as London, new York and Paris.
The casinos plan to employ ten thousand people and will create twenty thousand jobs in other industries, but the possibility of an increased number of job oportunities does not appeal to all Singaporeans.
Christians and Muslims had made publicly known their concerns about the negative effects of gambling in the society.
To counter the possible gambling addiction, a national council to handle problem gambling has already been set up. They also plan to implace a levy of SIN $100 entry fee or $2,000 annually. The levy might be helpful to curb or prevent the possible problem gambling addiction in Singapore that are experiences in other parts fo the world.
Presently the gambling industry of Asia is now valued at US$ 14 billion annually and this figure is expected to grow as South Korea, Macau, Vietnam and the Philippines plan to expand their land based casinos.