When a stock falls from $50 to $5 losing 90% of its value in one month, it tells you the company is not going to do very well.....and the recession has just started. LVS (Las Vegas Sands) has incurred such a huge debt building casinos in Macau, Las Vegas and Singapore that it won't be able to cover interest on its debt. With the economy slowing, its financial situation can only get worse.
Many Singaporeans signed the petition against the building of casinos in Singapore but were not able to stop it from coming. Looks like the recession will do the job for you. The casinos were ill-timed with so many countries jumping onto the bandwagon at the same time - Macau, Thailand, Phillipines, Vietnam etc it was doomed to failure. I just hope that the govt does not break its promise to restrict Singaporeans entering the casino if family members object. The govt decided to allow the building of casinos citing job creation as one of the reasons. However, jobs were never the problem - we havs so many jobs we need to bring in so many foreigners to fill them. It is the high cost of living that makes it difficult for the lower income breadwinner to support a family is the real problem. Casino jobs will be similar to those jobs created in Macau. Macau residents who protested against the govt because they did not benefit at all from the casino boom. The casino would have brought with it social ills without the intended benefits