In Singapore the Minister for Community Development, Youth and Sports, Vivian Balakrishnan, answered questions in parliament saying that the two integrated casino resorts have collected $70 million in entry levies since they opened, adding that it was too early to assess the social impact of the properties. Senior Minister of State for Trade and Industry, S. Iswaran said that there will be no compromise to the government’s concept of Integrated Resorts with gambling facilities only a small percentage of the resort. When the two IRs are fully open, gaming areas will take up less than 3% of the Gross Floor Area for Marina Bay Sands and less than 5% for Resorts World Sentosa.

One MP asked whether reports that most visitors to the casinos were Singaporeans were of concern to the government. Mr Iswaran replied that there are many measures in place to help prevent gambling on impulse and that the novelty factor could be influencing numbers. He also commented on problems at a recent conference held at Marina Bay Sands, saying that one event would not affect Singapore’s reputation as a top place for MICE events. Las Vegas Sands Corp is suing the organizers of the first conference to be held at the venue after they withheld payment because of a power failure, malfunctioning facilities, including air conditioning, and unfinished rooms.

Gaming revenue in Macau has been so good recently that new life is being breathed into stalled projects hit by the recession and visa restrictions imposed by the Chinese authorities on their gambling-mad citizens. Galaxy Macau is pressing ahead with its ‘Asian-centric’ Cotai resort, expected to open early next year. Sands is restarting construction at Lots 5 and 6, south of City of Dreams, and has secured US$1.75 billion in financing. Wynn anticipates that work on his empty Cotai Lot will begin soon with a new luxury resort opening in 2013. Sociedade de Jogos de Macau (SJM) has future plans for its Cotai land when the demand is there.

Gaming revenue in Macau is leaping ahead. Over the first two weeks of May revenue is reported to have risen by 90% over the same period last year, reaching US$1.12 billion. In April gambling revenue rose 40% and results for the first quarter (up 57%) point to 2010 being a record year, with casino revenue for the three months already close to the amount made in the whole of 2005. SJM reported a 74% first quarter increase in gaming revenue, boosted by money from high rollers. The company added 205 VIP tables during the quarter.

With the example of a resurgent Macau and a blossoming Singapore in front of them, Vietnam, Cambodia and the Philippines have revitalised casino developments in progress. The government in Malaysia is facing criticism from Islamists for its recent decision to licence sports betting. The Japanese Liberal Democratic Party has been studying the possibility of lifting the ban on casinos as around half the country’s prefectures want to build casino resorts to attract tourists. All in all, it appears that gambling is alive and well in Asia – until the next financial crisis, anyway. (E-05.21.10)

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