Integrated Resorts ready in 2010

3 blocks of the Iconic Looking Sands Tower almost completed

By the beginning of 2010, Singapore will have its first Integrated Resort Gaming Facility located at the Marina South just next to the floating platform. The second, managed by Resorts World, will be ready by 2011 located in Sentosa. Sands of Las Vegas, whose chairman is Sheldon Sands has placed his bets on gambling in this 'fine' country where there are fines aplenty from spitting to smoking to littering.

It is a contradiction in a sense that the ultra prim and proper Singapore, wants to pursue the gambling dollar.However, the Government having thought long and hard and elicited feedback from all areas such as religious groups, various intrerest groups and the man in the street, decided on a "YES PROCEED" vote in 2007. This is being true to their pragmatic nature, had decided that they wanted to "have their cake and eat it".

The Government has probably had their think tank models and scenario models out a long time ago and decided that the 'pillar' of manufacturing will not be as strong as before and will probably shrink massively in the coming years, hence, the need for new skillsets and mindsets and hence the decided on the gaming and entertainment industry.

Now there are up to 30,000 jobs being dangled for Singaporeans (and Malaysians) displaced by the Financial Crisis such as Croupier, Concierge, Limo Driver, Asst Sales Associate, and alot of other related jobs in the tourism and hotel industry.

Gambling and its related ills like gambling addiction leading to family breakdown will have to be managed. The Institute of Mental Health has spent untold sums of money visiting places like Las Vegas and Macau to study the effects of excessive gambling and how spiralling debt will spell disaster to the family unit. How the casinos can manage to get the finances of problem gamblers and persuade them not to continue now but in years to come (say 5 years) will determine whether Singapore's move into the IRs is indeed successful.

In the bigger scheme of things, there are the new restaurants, Seaworld and Universal Studios to look forward to.I was a small time gambler (during my NS days), but my forays will be limited to the buffet table. My gambling luck has always been 'so - so'.

Neither Win Big or Lose Big. Perhaps its time I seriously reviewed this Mindset if I am to learn from the Big Boys like Goldman Sachs - see earlier post on "Lessons from Goldman Sachs Turnaround "