Interesting report about the casino below : Better business for pawn shops as customers raise quick cash for gambling.
When the PAP govt proposed to build those casinos, it was sold to the public as a way of 'creating jobs'. In the past few months netizens through various blogs, newspaper reports, foreign job advertisements etc found out a large proportion of the jobs went to foreigners. Later the govt through the MSM released some more favorable but confusing figures on the job numbers saying that more 'locals' (PR+citizens) have been hired at the casino. But this whole jobs argument has been a red herring. Why do I say that? Singapore now imports more than 30% of its workforce to fill jobs....the Singapore economy creates so many jobs it needs to import workers. Job creation and low employment were never the real issue. The real issue is salary. It is not job creation but the type of jobs and whether our income levels rise fast enough to pay for the rising cost of living - housing, medical care, food, utilities and transport. There is not much point to create another 1000 cleaner jobs for Singaporeans at the casinos ...card dealer jobs that pay $1200 a month?
The other day I was at Parkway Parade and a property agent walked up to me to sell units at a newly launched condo near Marine Parade. The cheapest unit $900K ...$1.8M for the penthouse. The agent said, no problem renting out because the executives at the IR are all highly paid foreigners and will be looking for rental apartments in the east. It is not whether the casino creates jobs but whether Singaporeans can earn higher salaries because of the casinos....so far I've only heard of people losing their salaries there!
The benefits of the casinos for Singaporeans are not so clear but the social problems caused by casinos are very real. Prostitution, loan sharking and gambling addiction are now on the rise due to those casinos.
Better business for pawn shops as customers raise quick cash for gambling
23 March 2010 / CNA SINGAPORE: The opening of the casino in Singapore has led to better business for some pawn shops. Pawn shops said they are seeing more customers, especially older folks, who said they are pawning their valuables to raise cash for gambling. While the number of such customers is small, pawn shop owners said it will rise in the coming months. However, some industry players have expressed concern. They feel pawn-broking is meant to help people tide over urgent times, rather than a means to raise quick cash. - CNA/yb