Singapore has come late to the party in terms of casinos and gambling, but this has led to plenty of opportunities for expansion in the country. Indeed, it was 2010 before Singapore received its very first casino, having had a national lottery for some time before this period. The country is a major financial and economic hub, and brings in a lot of tourists each year. As such, casinos are the perfect way of generating some additional revenue.
There are so many factors to consider in the country, and, when it comes to development, there is definitely a scope to expand here. Singapore has two casinos, and the larger of these is the Las Vegas Sands Marina Bay Sands, boasting 2,500 slots, and more than 700 table games. Earlier this week parent company Las Vegas Sands announced plans for an expansion project in Singapore, which is exciting news for the country’s residents.
Indeed, the company has announced plans to spend a whopping $3.3 billion in order to expand its Singapore-based casino, adding a new entertainment arena, hotel, and convention space as well. Clearly the company has seen a scope for movement here, and is looking at what can be done to boost its influence and reach across Singapore.
This is not dissimilar to the way in which Gateway Casinos & Entertainment has conducted its operations across Canada. With moves like a C$57 million casino development project in Edmonton, Alberta becoming the norm for the casino heavyweights. In a similar way, Las Vegas Sands will more than likely look to become the chief suppliers and providers in Singapore, and this is a development they are likely to want to look into.
The news comes even as Singapore announces plans to combat the potential issue of problem gambling in the country. The idea posed is to use technology as a way of alerting gamblers when they have spent too much, or might be heading towards spending too much. There are a lot of benefits to this, and it is definitely showing that Singapore values the customer, and is actively taking steps to embrace responsible gambling.
Despite its modest casino facilities, Singapore is 4th in the world for casino revenue, showing that there is a massive market here that people are pumping a lot of money into. This makes the need for some sort of anti-problem gambling technology all the more essential. Ethical gaming has become a big thing for both Canada and the United States of late, with the GameSense initiative in active use. And now it seems that Singapore is waking up as well, and this is going to do wonders for the industry.
With around 28,000 Singaporeans thought to be battling gambling addiction, it has become more and more important for casinos and authorities to take the right steps, and they have. This could well see more casinos introduced into Singapore in the near future, and the economy is definitely improving as a result.