Asian Economic News: Singapore moves closer to building country's 1st casino

SINGAPORE, Dec. 29 Kyodo

Singapore invited proposals from potential investors Wednesday in a large-scale resort that could include the country's first casino in a bid to attract tourists amid stiff competition from other Southeast Asian destinations.

The government's plan for a casino as part of the integrated resort has sparked a heated debate among Singaporeans, and consultations with the public have been going on over the last nine months.

At a press conference Wednesday, Cabinet minister Vivian Balakrishnan said the government will decide whether to go ahead with the casino only after it has evaluated the concept plans to be submitted by potential investors and assessed the economic benefits that an integrated resort with a casino would bring to Singapore.

The government set a deadline of the end of next February for companies to submit their plans. It has identified two possible sites for the development of the resort -- Singapore's southern waterfront, which already has a vibrant entertainment scene, or the more tranquil setting of Sentosa, already a resort island.

It also issued a list of rules to restrict future access by Singaporeans to the proposed casino in a bid to allay social concerns of the negative impact it could have on a nation where gambling is highly popular among its majority ethnic Chinese citizens, and said potential investors would have to take this into account.

The restrictions include hefty entrance fees on local citizens of S$100 (about US$60) for a day's entry and S$2,000 for yearlong access, and banning the proposed casino from offering credit facilities to Singaporeans.

Although Singapore already has several theme parks, the government is currently trying to expand the city-state's tourism sector by building bigger and better attractions.

It is part of an overall plan to boost the services sector as the economy faces strong competition from other countries such as China in the manufacturing industry.

''We are thinking of something on a much larger, more sophisticated scale and scope,'' Balakrishnan said.

Singapore is not just eyeing revenue from gambling.

''We are really after the leisure business and conventions,'' he said.

Singapore hopes the new resort will entice more tourists from China and India to come here and help it to maintain its position as a hub for conventions in the region, he said.