Thursday, September 10, 2009

Ronnie Chan : Singapore Casinos will 'flop'!

Just got this in my email a few minutes ago. Some strange remarks from the chairman of Hang Lung Properties about our casinos 'flopping'.
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Hang Lung Properties’ Chan Says Singapore’s Casinos Will ‘Flop’
2009-09-10 05:20:36.882 GMT
By Chia-Peck Wong and Bernard Lo Sept. 10 (Bloomberg) -- Ronnie Chan, chairman of Hang Lung Properties Ltd., Hong Kong’s fifth-biggest developer by marketvalue, said the two casino-resorts in Singapore will failbecause they won’t be able to attract high-rollers. Las Vegas Sands Corp., the casino company controlled bybillionaire Sheldon Adelson, and Genting Singapore Plc, a unitof Asia’s biggest listed gambling operator, are building Singapore’s first two casinos. Chan commented after attending the Bloomberg LeadershipForum in Hong Kong. “The big rollers are what make money in casinos, they willnever come to Singapore, it’s a family entertainment” location. “You think big-rollers will go to Singapore where theyhave teeth and fangs coming out sideways? There are too many rules. I was in Sentosa island, I really think that it’s going to be a flop. “The whole integrated entertainment industry, I’m worried for them. The good thing about Singapore is that if you flop,you’re given a second chance.

23 comments:

Anonymous said...

I believed that the I.R. will have complete different management style and plans as compared to initially planned.

There may be a point where certain policies and restrictions are greatly relaxed to make it a success.

Anonymous said...

What does he mean by "teeth and fangs coming out sideways?" thats an interesting quote.

its a different kind of attraction, i would think. Too much is invested into the casinos - i dont think the govt would want them to fail - and thus relaxation of some rules, so that they will make money.

Anonymous said...

So, is his name Robbie Chan or Ronnie Chan?

Azz said...

--The good thing about Singapore is that if you flop,you’re given a second chance.--

That's an oversimplification. Shows that the guy knows shit about Singapore.
In reality, in Singapore some people are given an unlimited number of chances. No matter how many times they flop, let's move on.
On the other hand, some other people are given only 1/2 a chance, meaning that they are "helped" to flop and no second chance for sure.

Anonymous said...

For me gambling is a bad thing, let it flop then.

Ender said...

I have seen quite a number of casinos around the world. However I could never recall seeing a thriving casino industry coexisting with a strong financial center.

Generally, casinos are serviced by shady banks offering private services. More often than not, the areas around the casinos are often in a bad condition as the casinos suck spending power into its premises leaving the surrounding areas poorer.

Casinos are great from a tax collection point of view but poor for the general health of the economy.

I had written letters on the casino issue to the papers before in 2005 which was published and have predicted that the foreign workers rather than local workers will end up being hired. Unfortunately, that part was edited out.

It will be quite interesting to see a "Foreigner free entry and Singaporean $100 to enter" sign in my own homeland. No self respecting citizens will patronise that establishment if given a choice.

Ender

Anonymous said...

haha, this honkie have no idea of how 'flexible' the evil pap govt is when it comes to money.

YOU CAN SMOKE IN THE CASINO EVEN THOUGH ITS AIRCON. but if u lower mortals smoke outside of the casino in aircon, u are fined heavily.

this is just one of the many double standards of the pap.

i just pray that crime, prostitution does not proliferate in singapore and that the govt people who decided to allow the casinos burn in hell.

Anonymous said...

"It will be quite interesting to see a "Foreigner free entry and Singaporean $100 to enter" sign in my own homeland. No self respecting citizens will patronise that establishment if given a choice.
Ender"

alas, singapore don't have a brave hero like bruce lee to smash the "东亚病夫"sign.
we are really pathetic, being discriminated in our own country.
sorry, pap's country.

Anonymous said...

That's really bad. Before the IR had started, someone is already giving negative points. But let's give it the benefit of doubt and see who is right at the end.

Anonymous said...

Hi there guys,

I'm a Singaporean working in a casino overseas. I'm not going to say which casino or country to keep my identity in case the internet brigade dogs want to chiah me lim kopi.

From the looks of it, the 2 casinos in Singapore in my opinion will thrive in the opening years. Why? Cause its like fucking a hot girl after abstinence from sex for 10 years, we the citizens will just go gamble like mad as if there is no tomorrow.

However, it will fail big time after a certain amount of years. My reason is, due to the fact that they're going to open a thousand or more tables, and it's all going to be a waste of space and manpower.etc. A thousand tables is quite alot. As a comparison to where I'm working, its about 10,000 people to each casino table here. And we only open about half of the tables most of the time.

Singapore has only 5mil - that works out to about 500 tables. And half of that would be only about 250 tables. Think about the wasted manpower and time and money on the other 750 tables if they really do what they say by opening more than a 1000 tables.

We Singaporeans love to gamble, yes, but we are also smart enough to stop gambling if we know that we're going to lose out big by gambling in a long run. There will be some of us who will be bankrupt from it too, and only the occasional one of a million will be rich from gambling.

The Hongkie is right about the high rollers part. Today, there's very little high rollers about everywhere in the world, and they're not just going to land up in Singapore to gamble. There's Macau, Las Vegas.etc where there's plenty of entertainment and tons of casinos. A small island with 2 casinos are not going to fight with them in that aspect.

Anonymous said...

(from above)And before I end, I urge all of you not to visit the casinos in Singapore if they ever open.

Don't throw your hard earned money to those PAP cunts.

You'd be better off giving your money to the old folks picking up cardboard in almost every HDB estate. You'd feel happier.

Croupier (somewhere in the world way better than Singapore)

skeptic said...

"The good thing about Singapore is that if you flop,you’re given a second chance."

Only for government linked business not the people.

No2Casino said...

Good, let them fail!

Gambling is NOT a viable way to prop up an economy. Especially if GDP growth has little bearing on the welfare of Singaporeans, except PAP.

What I'm concerned about is that the PAP will continue to pump money into the running/promotion of the ailing casinos, much the same way as they have been doing for Chartered Semi-con.

Btw, if I want to gamble, I might as well punt the stock market. No barrier fees, just comfort of home...

Anonymous said...

eh I thought that it is not a secret that even some of the folks who help developed the plan knew that the IRs will not succeed? But u know, got to make a living.

I think there is some masterplan involved but looks like we will have another expensive white elephant with an unfortunately long lifespan.

this is funny:
"No self respecting citizens will patronise that establishment if given a choice."

Ganga said...


Hey Lucky Tan, where did you get the link for the article you cited? Tried to search online but couldn't locate it. I wonder if the article was pulled off?

Anonymous said...

With so much of their pride/reputation at stake, it is unlikely that the PAP govt. will allow the casinos to fail. Witness the fact that despite almost going into bankrupcy, Sands were able to secure a loan (probably from the PAP govt despite their denial) to continue with construction of the Marina casino. Failure is not a scenario that the PAP govt would accept in the case of the casinos.

Anonymous said...

I believe the casino will be successful initially but will slowly but surely become a less profitable. I do not think it will lose money because I am darn sure, the government is banking on the local/asian gamblers to keep it going. From horseracing,4D, ToTo, Soccer Betting covering almost all the main leagues, F1 betting and finally the logical progression to casino, it was all planned.Eventually the casinos will be bought over by either Temasek or another government owned entity. Anyone care to take a bet on that..

Anonymous said...

If the Singapore Casinos flop, well, just ask minister Lim Swee Say to do the flip. He will then invent another 'flip the flop' in the same way as 'upturn the downturn'. This guy has a lot of jamban ideas.

Just keep watching the show.

Anonymous said...

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http://www.huffingtonpost.com/diane-francis/dirty-money-flees-swiss-b_b_266272.html

Anonymous said...

I see it as a flop as Casinos thrive in cities that provide other forms of entertainment. At one time there was the Crazy Horse Cabaret which failed miserably and what was the reason? Casinos and family entertainment is akin to putting Disneyland next to Las Vegas (Never The Twain Shall Meet).

Anonymous said...

Casinos in Macau are thriving basically because corrupt officials from China, Taiwan & many neighbouring countries need to launder their illgotten gains from corruption.

I suppose Singapore thinks likewise they can attract those corrupt officials from neighbouring Malaysia, Indonesia, Thailand, Phillipines, Myammar, etc. That's why they allow 2 casinos to operate.

How can they fail especially if they are not going to prohibit Muslims from entering the casinos especially when Malaysia & Indonesia can guarantee a steady stream of such ready customers for our IRs ?

No need to go to the casinos in Australia or America. Somemore in future the MRT in JB can lure the corrupt govt or police officer straight to our casion at Marina Bay !

Anonymous said...

I am not surprised by what Ronnie Chan said, he is in a number of committees that promote Hong Kong, and like many Hong Kongers I know, will hope that Singapore fails miserably because we are one of their top competitors. He said he went to Sentosa, it doesn't mean a single thing, the Sentosa IR isn't even completed.

Thanks for the negative remarks about Singapore, they will prompt Singaporeans to work harder.

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