Singapore Registers “Massive Winnings” as Casinos Hit Record-High Arrivals
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(Free-Press-Release.com) September 1, 2010 --
Despite looming concerns over possible negative social impacts of gambling, a world renowned gaming analyst on Monday expressed confidence that the Singapore government will continue to support the operations of two casino resorts in the city-state, citing its significant contribution to its gross domestic product (GDP) and tourism.
In an interview, Las Vegas-based Asian gaming expert Jonathan Galaviz said that Singapore’s “massive bet” for the establishment of two multi-billion dollar casino resorts is now paying off, reaching the one million mark in the number of visitors in July.
“Singapore’s legislation for the casino gaming industry in the city-states is clearly paying off, enhancing tourism strategy and GDP of the country. This development will continue doing well for the next decade,” Galaviz said.
Based on records, Singapore’s Tourism Board said that the number of tourists visiting the casinos reached one million in July.
Besides the casinos, Singapore’s integrated resort which is famous for its theme parks, hotels, high-end shopping districts, and convention halls also offers alternative destinations to tourists arriving in the city of five-million people.
Officials added that they expect the numbers of tourists to climb up between 11.5 to 12.5 million this year, beating neighboring countries known for its white-sand beaches and other natural tourist attractions.
Earlier, Southeast Asia biggest bank DBS Group forecasted a $1.5 billion contribution of the casino resorts to Singapore’s economy.
Galaviz predicted that Singapore’s total gross revenue on gaming will reach $2.7 billion this year and could soar beyond $3.0 billion next year.
“It is important for Singaporeans to see the role of casinos in luring not only the high-rollers but also as an integral travel destination in order for the country to stay competitive globally,” the analyst added.
It will be recalled that the church and civil society groups expressed opposition against the legalization of the “gambling destinations,” citing problems that might arise with its establishment.
AsiaBiz Services, which focuses in Singapore company registration, a business believes that the country is one of the best business centers because of its pragmatic government.
“The Singaporean government makes decisions based on the rational reasoning. With this, pragmatic policies and regulations have attracted international companies to setup a Singapore company,” the firm said.
AsiaBiz Services is a company that specializes in business registration which can help local and foreign entrepreneurs in the formation processes involved in to setup a Singapore company.
“The Singaporean government makes decisions based on the rational reasoning. With this, pragmatic policies and regulations have attracted international companies to setup a Singapore company,” the firm said.
AsiaBiz Services is a company that specializes in business registration which can help local and foreign entrepreneurs in the formation processes involved in to setup a Singapore company.
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