3rd Casino on the way
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Governement addicted to building casino liao....
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Originally posted by Reliefdriver4u:
For members lazy to read the following article, in short -
the 2 casinos have 10 years exclusive rights and 30 years license
so meaning no 3rd casino within the 10 years period (till 2020)
so members hoping for another casino in singapore within these 3 years can eat more big head vege and dream on ...
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Marina Bay Sands
By Chua, Alvin written on 01-Nov-2011
National Library Board SingaporeComments on article: InfopediaTalk
Marina Bay Sands (MBS) is an integrated resort (IR) with a hotel, casino, retail mall, convention facilities and entertainment venues including theatres, a museum and nightclubs. Sitting on a 570,000m2 waterfront site at Marina Bay, MBS is operated by Las Vegas Sands (LVS) Corp. and has been one of the company’s most profitable properties since its opening in April 2010. MBS’s distinctive architecture includes three 55-storey hotel towers topped by a 12,400m2 SkyPark and the lotus flower-shaped ArtScience Museum.
Background
In March 2004, the government raised the prospect of the longstanding ban on casinos being lifted as part of a resort development plan for Sentosa and the Southern Islands. The Ministry of Trade and Industry (MTI) then carried out a study on the economic, tourism and social aspects of having a casino within an IR, while the Feedback Unit (now REACH) held dialogue sessions with public groups including those from the religious, grassroots and business communities.
Amid much public debate, the government through the Singapore Tourism Board invited concept proposals for IRs at Marina Bay and Sentosa in December 2004. These IRs would include casinos, with restrictions including entry fees for Singaporeans (S$100 per visit or S$2,000 per annum), curbs on advertising and regulations on credit extended by the casinos.
The casino component of the IRs was debated in parliament in January 2005 and by March, consortiums from the United States, South Africa, Singapore, Australia and Hong Kong had submitted concept proposals for the Marina Bay IR, with the highest bid coming in at S$5.8 billion. The following month, the government confirmed in parliament that two IRs with casinos would be built.
Shortlist and award of Marina Bay IR
In November 2005, the government set the price of the Marina Bay site at S$1.2 billion instead of calling for an open tender. This allowed the bidders to compete on the strength of their concept proposals. The government also announced the judging criteria for the bids: tourism appeal (40%), architectural concept and design (30%), development investment (20%) and track record of the operator (10%). The winning bidder would have a 60-year land tenure and a 30-year concession for the casino (with a 10-year exclusivity period) with its gaming area capped at 15,000m2.
The proposals were whittled to a shortlist of four formal bidders: Las Vegas Sands (LVS), Harrah’s Entertainment partnered by Keppel Land, Genting International partnered by Star Cruises, MGM Mirage partnered by CapitaLand. LVS had been partnered in its bid by Singapore property developer City Developments Limited (CDL), but CDL later withdrew citing the invasiveness of probity checks.
In May 2006, LVS was awarded the rights for the Marina Bay site. Its proposal had the highest investment value of S$3.85 billion, in addition to the land cost of S$1.2 billion. LVS’ strength in the meetings, incentives, conventions and exhibitions sector as well as the distinctive design elements of its proposed architecture were cited as key factors in its winning bid. Analysts had previously ranked LVS behind the other bidders, in part due to its lack of a local partner.
Development
Construction began soon after the award of the project, now named Marina Bay Sands (MBS). In 2008 however, LVS was reported to be in financial trouble. A global economic and financial crisis had hit its businesses and affected its ability to raise financing for its projects. Its share price fell more than 90% from peak levels and the corporation was reportedly close to bankruptcy a number of times.
In November 2008, LVS chairman and chief executive Sheldon Adelson flew to Singapore to meet government officials and reaffirm LVS’s commitment to the MBS project. LVS then suspended developmental work on projects in Las Vegas and Macau to concentrate its financial resources on MBS. It also raised S$3.2 billion through a stock offering, with Adelson putting in more than US$1 billion of his own money, and put in a successful request to the government to open MBS in stages.
The project continued to suffer construction delays, which were attributed to high prices of concrete after an embargo on sand exports by regional countries and the bankruptcy of a number of sub-contractors. Heavy rainfall and labour shortages also contributed to the delays and the escalated cost of the project, which was now at S$7.7 billion. In December 2009 however, LVS announced that MBS would open on a phased basis and commence operations in April 2010.
Layout and design
On a gross floor area of 570,000m2, MBS houses 2,600 hotel rooms across three 55-storey towers, and three low-rise domes which contain a retail mall with over 300 boutiques, convention facilities for up to 45,000 people, fine-dining restaurants and casual eateries, two theatres that seat 2,000 each, an indoor skating rink and a casino. The casino holds 600 gaming tables (with a potential capacity of 1,000 tables) and 1,500 gaming machines. The resort also includes an ArtScience Museum, waterfront pavilions housing retail boutiques and nightclubs, and other outdoor event facilities.
Designed by Canadian architect Moshe Safdie, MBS’s most distinctive elements are its hotel towers topped by a 12,400m2, 6.3 million kilogramme cantilevered SkyPark, which includes an observation deck, restaurants, nightclubs, a swimming pool and gardens. The ArtScience Museum is shaped like a lotus flower, while the low-rise domes feature wave-form roofs. Safdie also integrated around S$50 million worth of art installations within his design for the resort.
Operations
MBS began operations on 27 April 2010 with a phased opening, and officially opened on 23 June. In its first full quarter, MBS made a pre-tax profit of S$315 million on revenues of S$631 million, and these figures rose to S$390 million in pre-tax profit and revenue of S$560.4 million in the following quarter. The figures broke LVS’ records for quarterly profit and profit margin, and made MBS one of the most profitable properties in the LVS group. During its first year of operations, MBS drew 19.6 million visitors and hosted nearly 2,000 meetings, conventions and exhibitions.
Author
Alvin ChuaFor those who are confused about the exclusive rights.
One of the biggest questions out there right now is whether Singapore will ever allow more IRs (casinos) to be built. The exclusivity periods provided for the first IRs operators (MBS and RWS), in theory, end in 2015 and 2016 respectively.
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Here is the reason why 3rd Casino is coming.
The math of when and how the government will finally take this issue head-on is interesting. It took about four years for both IRs to be built, and that means that if the Singapore government awarded another casino license in early 2012, it would not be until at least 2016 that another IR became operational.
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cut and paste a small section of an 130 page article ...
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Development Agreement with Singapore Tourism BoardOn August 23, 2006, MBS entered into the Development Agreement with the STB to design, develop, construct and operate an integrated resort in Singapore called Marina Bay Sands. The Development Agreement includes a concession for MBS to own and operate a casino within the integrated resort. In addition to the casino, the integrated resort will include, among other amenities, a hotel, a retail complex, a convention center and meeting room complex, theaters, restaurants and an art/science museum. MBS expects the Development Agreement will be amended to reflect an agreement between MBS and the STB once approval is obtained on the final design plans of the integrated resort. MBS is one of two companies that has been awarded a concession to operate a casino in Singapore. Under the Development Agreement, the STB has provided a ten-year exclusive period (the “Exclusivity Period,” which began January 29, 2009) during which only two licensees will be granted the right to operate a casino in Singapore. In connection with entering into the Development Agreement, MBS entered into a 60-year lease with the STB for the parcels underlying the project site and entered into an agreement with the Land Transport Authority of Singapore for the provision of necessary infrastructure for rapid transit systems and road works within and/or outside the project site. -
Sands Annual Report 2011. Search for "exlcusivity period" on page 15.
The Development Agreement also contains provisions relating to the construction of the project and associated deadlines for substantial completion and opening; the location of the casino within the project site and casino licensing issues; insurance requirements; and limitations on MBS’ ability to assign the lease or sub-lease any portion of the land during the ten-year exclusivity period that commenced March 1, 2007
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Casino operator Las Vegas Sands Corp. won't be permitted to sell its shopping mall at Singapore's Marina Bay Sands casino resort until 2017, the government-run Singapore Tourism Board said.
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Jun 20 (Reuters) – Casino gaming tycoon Steve Wynn, who controls Wynn Resort and Wynn Macau , is keen to build a property in Singapore, where two one-year-old casino-resorts look set to surpass the Las Vegas Strip in gaming revenues this year, the Business Times reported.
“I’m dying to go to Singapore,” Wynn told Singapore’s Business Times in an interview. “That’s my next goal in life — to build a hotel in Singapore.”
Such a hotel would need the ancillary income of a casino to justify the investment, he added.
Singapore legalised casino gaming in 2005 in a bid to double visitor arrivals by 2015. Genting Singapore’s Resorts World at Sentosa opened in February last year, while Las Vegas Sands’ Marina Bay Sands started operations in April.
Wynn will have to wait till March 2017 to open a property in the Southeast Asian city as Singapore has granted the two incumbents exclusivity for the period. (Reporting by Kevin Lim)
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Some1 told me its likely around the current container teminal.
When container teminal contract up, will move to jurong island.
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Will they have like integrated membership for casinoes if so many casinoes?
Like pay $10,000 and you have unlimited access just like country clubs.
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Container port ?
Well it is possible that former railway station one of the piece of land they required .
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Originally posted by Poolman:
Container port ?
Well it is possible that former railway station one of the piece of land they required .
keppel and pasir panjang water front
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Originally posted by Poolman:
Container port ?
Well it is possible that former railway station one of the piece of land they required .
yah pasir panjang all shifting to jurong side a few yrs later
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What about Pulau Ubin and build a bridge to Singapore?
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Originally posted by MMO69:
What about Pulau Ubin and build a bridge to Singapore?
what about building a bridge across into Batam ? -
Which Batam, indonesia batam or geyland mini batam?
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Originally posted by bowah:
Which Batam, indonesia batam or geyland mini batam?
tml going u knoe..........
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Today, I picked up a pax going Tuas South.
He tell me the 3rd casino will be at Pulau Tekong.
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If at Tekong, many wild Boars, elephants and hantus visiting the IR more.
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Originally posted by MMO69:
Today, I picked up a pax going Tuas South.
He tell me the 3rd casino will be at Pulau Tekong.
All those bmt guys will book out & proceed to casino in their uniform. Haha. -
Originally posted by MMO69:
Today, I picked up a pax going Tuas South.
He tell me the 3rd casino will be at Pulau Tekong.
Any casino would be part of an IR, so that place need to be convenient for large numbers of people to patronise, otherwise the restaurant, boutiques, shops would see empty floors.
Best location would be Upper Bukit Timah area near the causeway.
Err..because the Turf Club is there, not because it would be convenient for Malaysians.
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Next time it will be called integrated casino.
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Casinos or the next IR resort is inevitable, this is not new, it had been floating among peoples in Singapore.
The directives of govt is to go into high tech and high service industry, high tech meaning you need higher skill and competence people, so far those who have not been upgrading all these years, they will face structural unemployement, meaning, got job but you cannot do it due to lack of skill or qualification to do it. This inbalance will result in influx of so called FT into our city to make up the shortage, low industrial like making pen, shoes, food, paint or shampoo is going to be factory of yesterday, in fact, now you hardly see them.
Therefore, it is imperatives for Singaporeans who are looking for job could end up with no job in a tight labour market situation as Singapore. end up most took up TD or security guards, there are insitution that can help one to upgrade, train and place, skill development, and one of them is e2i, purely for singaporean, so is learning Hub which provide WSQ certification, Working Skill Qualification that allow you to take up a higher skill and higher paid job.
Opening of casino is not a problem, we already got experience people within, unlike the first time, but to train the peoples is a task, because most Singaporeans do not to go back to school, even with per hour pay, not much is forthcoming.
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3rd one?
Wah Singapore becoming gamling dan ah? =.=
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so is the case tia kong??
or frm the................