Wooing the super-rich (from BT)

last SG · 2007-05-10T13:25:26+00:00

The corollary negative effects are likely to be rising property prices and a higher cost of living. - Wee Piew CEO HG Metal Manufacturing Ltd The downside...

Gazelle SG

Originally posted by walesa:

Referring to the above, should your stupidity preclude you from understanding the term "gaming tax", may I enlighten you that the sort of tax you're referring to is effectively called "gaming tax". Hence, if you concur that gaming taxes are actually higher than most other consumer taxes, would it not make sense to suggest a large chunk of money that goes into the fascists' coffers would actually come from the gaming revenue?

Then again, I suppose you'd be almost ignorant to just about everything the fascist propaganda doesn't feed you with. So, once again, using your trusted Wikipedia source, let me show you some misguided drivel you've been fed with that actually convinces you that LV Sands' operations here is the [b]MOST expensive IR in the world.

Referring to http://en.wikipedia.org/wiki/Integrated_Resort , LV Sands' development investment in Singapore would work out to an estimated SGD3.85 billion. After factoring in the cost of land, that'd take their total investment to just over SGD5 billion.

Echelon Place (referring to your beloved Wikipedia : http://en.wikipedia.org/wiki/Echelon_Place ), alone, would cost USD4 billion to construct and that investment does not cover the cost of land on which the complex will be erected.

You aren't telling me now SGD1=USD1, are you? It's not rocket science to work out USD4 billion actually dwarfs SGD3.85 billion? For the record, Echelon Place isn't even the most expensive casino resort that will ever be constructed - there's something bigger than that in the pipeline at the moment which your fascist press has obviously not inundated you with for fear of realising your innermost fears that they aren't exactly competent enough to be no.1 at everything.

Now, surely, the fascists wouldn't highlight such misguided and less-than-flattering statistics to mislead ignorant folks like you, would they? It is indeed admirable, given your stupidity, to be making an ardent case founded on utopian fantasy...[/b]

a) I suppose you are not aware that our government target formula for the IR is to have 30% revenue from gaming business. NOT 70%. Hence this contradict the argument that our government's main intention have having the IR is the the casino tax revenue. (IF they do, I am sure they will no limit that to just 30% isnt it?)

b) With reference to your quote from http://en.wikipedia.org/wiki/Integrated_Resort, may I know why you have choose not to quote a sentence which goes. With the land price and associated capital cost, its total investment will exceed S$5 billion. It would also be one of the most expensive casinos in the world

According http://www.msafdie.com/php/print_project.php?id=92, the total cost for this project is around US$3.6b.

c) If using wikipedia is a good reference, I would like to quote http://en.wikipedia.org/wiki/The_Marina_Bay_Sands, which say "Las Vegas Sands has committed to invest S$3.85 billion in the project, not including the fixed $1.2 billion cost of the 20.6-hectare site itself, which by most estimates will make it the most expensive casino in the world"

According to another article, the estimate cost of Marina Bay Sands is US$3.85b
http://www.atimes.com/atimes/Southeast_Asia/HE31Ae01.html, and it also mentioned that, "The Marina Bay Sands will get the title of the world's most expensive casino"

d) With reference to your quote from http://en.wikipedia.org/wiki/Echelon_Place, I believe you have overlook that the Echelon Resort only cost US$2.9b, the total of US$4b as quoted by you actually include hotel and retail joint ventures between the Company and key strategic partners.

http://phx.corporate-ir.net/phoenix.zhtml?c=95703&p=irol-newsArticle&ID=800095&highlight=

Now, let me see who is providing misguided information. Another S$ peg to US$ BS my boy?

Gazelle SG

1) The no. of Singapore residents is 3.6m, not 4.483m. Please get your facts right.

2) Of course everbody in Singapore will be able to benefits from the IR projects. If you have a job at the IR, you will spend money outside the IR, and when you spend money outside the IR, you create job outside the IR. And furthermore, IR will also help to attract more tourists to Singapore and they will ofcourse spend more time outside the IR and hence contribute to revenue to other sector of the economy.

3) "Do you not know that for every single foreign talent employed, he will very likely bring in two or three more to work with him"

Please quantify the above statement. If what you say is true, the population of FT in Singapore will multiply by 3 times every year. Can this be true? or you are just speculating again?

4) "Singaporeans and PRs will likely be swamped by cheap foreign labor at the lower levels; while qualified Singaporeans will have to compete with qualified foreign talents in an unprotected Singapore employment market that the Singapore Government has refused to regulate for the benefit of Singaporeans.

You seem to get excited with the micro numbers, but do not have the capacity to handle the bigger impact from larger digits, is there some unnatural innate fear to handle those bigger effects from bigger numbers ?"

a) I am sure you have chosen to ignore the facts that there is a foreign labour quota set by our government to ensure that there is a minimum no. of Singapore workforce within the company.

b) You are giving me that impression that you are either incapable of competing for jobs with FT or you are making assumption that Singaporeans are just as weak as you.

c) You seems to get all excited about speculating and manipulating numbers, is that what you call the ability to see BIG picture?

Gazelle SG

I dont think you know exactly what I am talking about and this obviouly shows your limited understanding on the business model of Venetian LV and Singapore IR. For the sake of proofing your lack of knowledge in this subject, I will again explain to you.

An IR consist of many businesses units, and they include, Hotels, Restaurant, Exhibition Hall, Theater, Retails, and the casino.

What th 70/30 target means is that for every $100 revenue generated by the IR, 70% will have to come from non-gaming businesses. And this will ensure that the IR operator (Sands and Genting) will have to crack their brains to think of other feasible businesses which is inline with our government idea of increasing tourist income and create more jobs for singaporeans.

And Sands has managed to convince that they can help develop the MICE industry, while Genting is able to offer a world class GATED theme park.

Like I said again, criticizing your nonsense is not equal to supporting the government.

maurizio13 SG

The 70/30 allocation is their way of stupefying the simpletons.

How can any rational free market business allocate these proportions. I suppose if I managed Macdonalds, I can predict the sales for the year will be 70% to Big Mac and 30% to French Fries. Such proportions are only possible with a planned economy.

If the sales for the Integrated Resort for the month end is 70% to F&B and 30% to Gaming. What if a high roller with $50 million (that will tip the balance to 50/50) goes to the Casino, are the operators going to turn him away because it will upset their 70/30 allocation. I suppose the operators are going to turn him away; "Sorry sir, we have managed to balance our allocated 70/30 business requirement. Please come again next month, when we will have sufficient credits for your gaming requirements. "

Sounds so stupid.

Hehehe

maurizio13 SG

1) Are you talking about residents or citizens? Residents means residing in Singapore, it does not mean citizenship.

2) That is what you and the govt hope to believe or hope to delude people in to believing. Anybody knows you can't win the banker, simply because he has more funds than you do. The odds are always stacked against the gamer. If you have $10,000, the banker has $1,000,000. You play a game with a minimum of $1,000 per bet; you can bet 10 times and you are out of money; whereas the banker can lose 1,000 times. Ultimately, you will lose all your money.

An Integrated Resort (IR) can ill afford to lose money in the gaming business, else it would close shop very soon. Therefore, if all the workers of Singapore makes say $100,000, they gamble away $50,000, there will be only $50,000 left to spend on food, transport, etc. The $100,000 they spend on food, transport, etc will have trickle down effect, the hawkers that earn the money will have to pay for his HDB, transport, food, etc, so it has a trickle down effect (multiplier depending on his marginal propensity to consume/save). With the loss of $50,000, they will only be left with half the amount of money to spend on the economy.

Whereas in the case of the $50,000 made by the casino, maybe 20-30% is drained away by the government reducing the money supply. The rest of the 80%-70% profits is drained away by foreign investors.

If their sole target is only the tourist, then they should ban all Singaporeans from the IR. That should ensure that the revenue they generate comes purely from foreign sources, instead of giving us the lame argument that Singaporean gamblers will go elsewhere to gamble and we lose the revenue.

Gazelle SG

a) Could you explain the meaning of planned economy and free market business?

b) Do you have reason to believe that 1 single high roller with $50m to lose with be able tip the balance of the business model which could generate $700m profit a year?

c) 70.30 is only a seletion criteria, not a rule. But based on governmetn selection, I am pretty sure both LV Sand and RWS are very close to that.

Gazelle SG

1) Please dont tell me something that I already know and if you could, please read the previous post before posting.

2) You are making certain assumptions which i find it hard to believe.

a) All tourist that comes to singapore will spend their entire trip in the casino gambling.

b) All employee working at the IR will be gamblers.

c) You are the only few smarts one in Singapore that knows banker will always win.

maurizio13 SG

a) http://en.wikipedia.org/wiki/Planned_economy

b) You have missed the forest for the trees. Please read and understand. With any business you can never forecast that you will sell a certain percentage of product mix with absolute certainty.

c) If it's not enforced, why bother having it? Wayang? To make people believe that their business is 70% entertainment and 30% gaming. There is a difference between entertainment and gaming; in entertainment, you can only eat this much, even if you can eat 3 main courses, you can only play with the IR facilities for a fixed number of hours, your spending is curtailed; whereas for gaming, can you say you will only lose $10,000 today and leave? Gaming has no bounds, if you lose your cool and control, there is a possibility that you will lose all your entire fortune in 1 roll of the die.

Gazelle SG

a) For any major investment, you will need to make sales forecast, P/L and Cash flow projection at least 3 to 4 years ahead, before the director of the companies can sign the dotted line to approval such huge investment. I am not sure which school of thought have teach you that you can never make forecast in business

b) This is not about wayang, this is to encourage the bidders to do their homework and come out with the best possible proposal for singapore IRs along the line of 70/30 rules. If they dont have such criteria in mind, do you think the IR bidders will submit such a big and comprehensive proposals?

c) I am not sure what makes you think that it is 70% entertainment and 30% gaming? Like I mentioned before 70% can consist of MICE activities, F&B, Hotels, Spa, Concert Hall, Theme Park etc. Plus why is entertainment = eating?

And btw, what is a free market business?

walesa SG

Originally posted by Gazelle:

a) I suppose you are not aware that our government target formula for the IR is to have 30% revenue from gaming business. NOT 70%. Hence this contradict the argument that our government's main intention have having the IR is the the casino tax revenue. (IF they do, I am sure they will no limit that to just 30% isnt it?)

b) With reference to your quote from http://en.wikipedia.org/wiki/Integrated_Resort, may I know why you have choose not to quote a sentence which goes. [b]With the land price and associated capital cost, its total investment will exceed S$5 billion. It would also be one of the most expensive casinos in the world

According http://www.msafdie.com/php/print_project.php?id=92, the total cost for this project is around US$3.6b.

c) If using wikipedia is a good reference, I would like to quote http://en.wikipedia.org/wiki/The_Marina_Bay_Sands, which say "Las Vegas Sands has committed to invest S$3.85 billion in the project, not including the fixed $1.2 billion cost of the 20.6-hectare site itself, which by most estimates will make it the most expensive casino in the world"

According to another article, the estimate cost of Marina Bay Sands is US$3.85b
http://www.atimes.com/atimes/Southeast_Asia/HE31Ae01.html, and it also mentioned that, "The Marina Bay Sands will get the title of the world's most expensive casino"

d) With reference to your quote from http://en.wikipedia.org/wiki/Echelon_Place, I believe you have overlook that the Echelon Resort only cost US$2.9b, the total of US$4b as quoted by you actually include hotel and retail joint ventures between the Company and key strategic partners.

http://phx.corporate-ir.net/phoenix.zhtml?c=95703&p=irol-newsArticle&ID=800095&highlight=

Now, let me see who is providing misguided information. Another S$ peg to US$ BS my boy?
[/b]

No, the SGD was never pegged to any currency bar the Ruppiah. In fact, the SGD can print its own currency at will too. Mr. Green Your foolish analysis indeed portrays the level of stupidity requiring equally ridiculous comparisons to illustrate the nonsensical nature of your drivel.

a) I suppose you're so daft that you can't comprehend simple English? I could target to make USD 1 trillion in this lifetime and become the world's richest man in the process, but is that quantifiable in definite terms? Suppose your intellect does not permit you to understand that simple analogy, let me rephrase it in the context of your argument then. Regardless of what the fascists target, are you telling me if 60% of Sands' income comes from gaming revenues, the gaming taxes wouldn't apply to them (ie.only 30% of this 60% will be subjected to gaming tax)? So are you so downright gullible to believe the government's projection will actually be so accurate (or it'd actually be adopted so strictly by Sands) that they ensure their revenue strictly follows a 30-70 breakdown?

b & c) I see your stupidity knows no bounds. So you've decided to jettison your pet Wikipedia now that it doesn't benefit your argument? Alright, why not refer to an agency of your fascist mouthpiece for credibility then? Specifically, read "Successful RFP Process" and see if the amount touted is in SGD or USD (oops, I forgot you could have factored in that by the time the IR's are ready, the USD, through printing its currency at its own free will, could have depreciated so much that USD100 = SGD1 - in which case, your flawed argument would certainly hold). And may I remind lest you suffer from selective amnesia, your emboldened claim earlier was that the two IR's in Singapore would be the most expensive in the world. With the imminent construction of Echelon Place (which must have been no more familiar to you than life on Mercury), LV Sands' Marina Bay IR is now just one of the most expensive, huh? What wavering conviction you have in your beloved fascists!

d) I'm sure Marina Bay will get the title of "The most expensive casino in the world" - if the rankings were meted out by you and believed by even more gullible compatriots of yours, why not? I'm not sure the rest of the world will come anywhere close to being convinced by people suffering from selective amnesia though.

walesa SG

You've got to remember you're dealing with someone who believes everything his fascist mouthpieces churn out? Mind, here's someone who believes countries can print currencies at will - going by his logic, I'm equally inclined to believe the SGD was first pegged to the USD (which, in turn, is pegged to gold) and now, the Ruppiah... Laughing

Gazelle SG

Originally posted by walesa:
a) I suppose you're so daft that you can't comprehend simple English? I could target to make USD 1 trillion in this lifetime and become the world's richest man in the process, but is that quantifiable in definite terms? Suppose your intellect does not permit you to understand that simple analogy, let me rephrase it in the context of your argument then. Regardless of what the fascists target, are you telling me if 60% of Sands' income comes from gaming revenues, the gaming taxes wouldn't apply to them (ie.only 30% of this 60% will be subjected to gaming tax)? So are you so downright gullible to believe the government's projection will actually be so accurate (or it'd actually be adopted so strictly by Sands) that they ensure their revenue strictly follows a 30-70 breakdown?

You could target to become anyone you like, however you will also need someone to believe what you say. Unfortunately, I think the best creature that you can sell your $1 trillion joke to is probably your dog, if you are capable of having one.

Like I said before and I will said it again for the sake of people with low IQ and trying to act smart. If the government intention for the IR is to go after the gaming tax revenue, our government would not have limited the casino area to only 3-5% of the overall IR floor space and also using Venetian LV business model as a selection criteria. Hence what you are saying above are nothing but a bunch of BS which nobody is interested in reading.

[quote]Originally posted by walesa:
b & c) I see your stupidity knows no bounds. So you've decided to jettison your pet Wikipedia now that it doesn't benefit your argument? Alright, why not refer to an agency of your fascist mouthpiece for credibility then? Specifically, read "Successful RFP Process" and see if the amount touted is in SGD or USD (oops, I forgot you could have factored in that by the time the IR's are ready, the USD, through printing its currency at its own free will, could have depreciated so much that USD100 = SGD1 - in which case, your flawed argument would certainly hold). And may I remind lest you suffer from selective amnesia, your emboldened claim earlier was that the two IR's in Singapore would be the most expensive in the world. With the imminent construction of Echelon Place (which must have been no more familiar to you than life on Mercury), LV Sands' Marina Bay IR is now just one of the most expensive, huh? What wavering conviction you have in your beloved fascists!
[/b]Again you are showing your inability to understand what you have read. The S$3.85b mentioned in the STB website is only consist of DEVELOPMENT investment, and that does not include the S$1.2b which LV Sands has to pay for the plot of land.

Please stop that US$100 = S$1, I really dont know what the hell you talking about.

Originally posted by walesa:
d) I'm sure Marina Bay will get the title of "The most expensive casino in the world" - if the rankings were meted out by you and believed by even more gullible compatriots of yours, why not? I'm not sure the rest of the world will come anywhere close to being convinced by people suffering from selective amnesia though.[/b]

What I am quoting is not what I believe, but fact and information provide by gaming analyist from all over the world. Just because you think you are smart, that doesnt necessary has to be true.

walesa SG

The reality is, I'm telling you now the SGD was once pegged to the USD and is currently pegged to the Ruppiah. That logic made every bit as much sense and was certainly a worthy response to your drivel that "the US is the only country in the world that can print the USD" and that they could do so at will. ( Go over your drivel again and see whether I said anything about the SGD being pegged to the USD before your claim that the "US can print as much as they like" ). All that before I'm reminded of the fact that here's someone trying to define what constitutes an Ivy League institution when you're obviously totally clueless. The reality is that sort of logic, for all its practical fallacies to most sane mind, would still flatter your warped and deposable intellect. Oh, and do feel free to harp on the fact that I now actually tell you that the SGD is pegged to the ruppiah...

For someone whose IQ barely exceeds that of a dog's (and I might even be insulting a dog's intellect in the process), it's obviously not all that surprising and mind-boggling that you can't comprehend the picture.

For anyone to believe LV Sands could have a strictly-demarcated 30-70 distribution for the IR's operations revenue is mind-boggling, really. Barring ignorant pets whose survival depends on the daily dosage of fascist propaganda, it'd be hard to imagine anyone would actually find your argument remotely coherent. Let's take your silly argument at face value and analyse on that basis : so you're effectively suggesting restricting the size of the casino to 3%-5% the size of the entire IR, that would actually constitute an effective way to ensure the IR's don't make more than 30% of its revenues from gaming avenues?

Have you ever set foot in a casino(and I literally mean a modern, state-of-the-art casino which has a complex of its own; not your own underground gambling den)? Have you any idea how many gaming tables are there in these casinos and how much revenue these tables generate? It's not rocket science for anyone who has set foot in such casinos to know the area of a casino hardly provides a viable reflection of how much gaming revenue the casino generates, in respect to the size of its non-gaming complex as a whole. For all the grand ideology your propaganda machine has fed you with, obviously the precedences set out by casinos in Macau, Las Vegas and Monaco will do little to boost your ailing case. Macau's gaming industry alone was worth USD3.4billion alone in 2003 - for your warped theory to hold true, I suppose we're supposed to believe LV Sands will be capable of generating some USD7.9billion on its own from its non-gaming revenues? (Should you fail to convince any sane folks, you can try selling that notion to your dog though...)

Evidently, if an ignorant mug like you should genuinely believe the gaming revenues of a casino could be curtailed based on the size on which the casino operates, you ought to get your head checked.

Hey muppet, let's give you the benefit of the doubt now and let's factor in the S$1.2billion land and capital cost for LV Sands' Marina Bay project. That takes us to a figure slightly in excess of SGD5billion.

Are you still going to tell me the two IR's in Singapore will remain the most expensive casino resorts in the world, despite being confronted with the fact that Boyd Gaming Corp is building Echelon Place at a cost of USD4 billion? Are you trying to tell me USD4 billion is less than SGD5.05billion?

You may very well be right should the USD depreciate sharply against the SGD (maybe there'll come a day in your wildest dreams when USD100=SGD1?) - if that doesn't materialise, you can stick to selling this notion to your dog.

What I'm certain of is our intellect belong to two totally different planes - I think, if anything, it's more a case of you being excessively stupid than me being excessively intelligent.

You would do well to stick to calculating exchange rates (and maybe find another way to convince any sound-minded folks of how SGD5.05 billion > USD4 billion) and harp on the fact that I'm telling you - yes, exclusive to you - the SGD is not just pegged to the USD, but also to the ruppiah. You've enough trouble handling basic arithmetic, nevermind the economics...

Gazelle SG

Originally posted by walesa:
[b]
Hey muppet, let's give you the benefit of the doubt now and let's factor in the S$1.2billion land and capital cost for LV Sands' Marina Bay project. That takes us to a figure slightly in excess of SGD5billion.

Are you still going to tell me the two IR's in Singapore will remain the most expensive casino resorts in the world, despite being confronted with the fact that Stardust is building Echelon Place at a cost of USD4 billion? Are you trying to tell me USD4 billion is less than SGD5.05billion?

You may very well be right should the USD depreciate sharply against the SGD (maybe there'll come a day in your wildest dreams when USD100=SGD1?) - if that doesn't materialise, you can stick to selling this notion to your dog.

[b]

Like I mentioned to you before and I will do it again since you have demostrated to be someone with pretty low IQ.

Echelon Place cost US$4b, but it is not an integrated resort, it is a piece of land purchase by the company to develop Echelon Resort which cost only US$2.7b. A balance US$1.3b is make up of other 50/50 JV business with hotel operators.

Marina Bay Sands is wholly owned subsidiary of LV Sands and they paid US$3.6-3.8b to purchase the land and develop the IR.

See the difference my boy?

Gazelle SG

Originally posted by walesa:
[b]

The reality is, I'm telling you now the SGD was once pegged to the USD and is currently pegged to the Ruppiah. That logic made every bit as much sense and was certainly a worthy response to your drivel that "the US is the only country in the world that can print the USD" and that they could do so at will. ( Go over your drivel again and see whether I said anything about the SGD being pegged to the USD before your claim that the "US can print as much as they like" ). All that before I'm reminded of the fact that here's someone trying to define what constitutes an Ivy League institution when you're obviously totally clueless. The reality is that sort of logic, for all its practical fallacies to most sane mind, would still flatter your warped and deposable intellect. Oh, and do feel free to harp on the fact that I now actually tell you that the SGD is pegged to the ruppiah... [b]

OK I learn something new again, S$ is pegged to Ruppiah, which is one of the most volatile currency in recent time

Gazelle SG

Originally posted by walesa:
[b]

For someone whose IQ barely exceeds that of a dog's (and I might even be insulting a dog's intellect in the process), it's obviously not all that surprising and mind-boggling that you can't comprehend the picture.

For anyone to believe LV Sands could have a strictly-demarcated 30-70 distribution for the IR's operations revenue is mind-boggling, really. Barring ignorant pets whose survival depends on the daily dosage of fascist propaganda, it'd be hard to imagine anyone would actually find your argument remotely coherent. Let's take your silly argument at face value and analyse on that basis : so you're effectively suggesting restricting the size of the casino to 3%-5% the size of the entire IR, that would actually constitute an effective way to ensure the IR's don't make more than 30% of its revenues from gaming avenues?

Have you ever set foot in a casino(and I literally mean a modern, state-of-the-art casino which has a complex of its own; not your own underground gambling den)? Have you any idea how many gaming tables are there in these casinos and how much revenue these tables generate? It's not rocket science for anyone who has set foot in such casinos to know the area of a casino hardly provides a viable reflection of how much gaming revenue the casino generates, in respect to the size of its non-gaming complex as a whole. For all the grand ideology your propaganda machine has fed you with, obviously the precedences set out by casinos in Macau, Las Vegas and Monaco will do little to boost your ailing case. Macau's gaming industry alone was worth USD3.4billion alone in 2003 - for your warped theory to hold true, I suppose we're supposed to believe LV Sands will be capable of generating some USD7.9billion on its own from its non-gaming revenues? (Should you fail to convince any sane folks, you can try selling that notion to your dog though...)

Evidently, if an ignorant mug like you should genuinely believe the gaming revenues of a casino could be curtailed based on the size on which the casino operates, you ought to get your head checked.
b]

This goes to show why the government is complain about the lack of creativity in this country. Somehow you have demostrate that your mind can only think in 1 direct.

a) By limiting the floor space use for casino, the IR will have more floor area to cater for other business.

b) 30% is a relative number, hence to acheive that 30% target (not rules and I mentioned) you could either reduce the size of the casino or you could enlarge the non-gaming business. And what our government did was both.

i) limit the size of the casino
ii) Increase the size of the non-gaming business.

Please dont bored me with all your BS analogy.

walesa SG

Are you stupid, oblivious to facts or simply stuck in your own world where fascism reigns? I suppose anything that doesn't have Integrated Resort as a label isn't comparable to the IR's you have in Singapore, eh?

Using your beloved Wikipedia as a source, Echelon Place is effectively a replacement for Stardust Resort & Casino. From your trusted source, "This will be an 87 acre multi-use project with a 140,000 square foot casino, 4 hotels providing 5,300 rooms, 25 restaurants and bars, the 650,000 square foot Las Vegas ExpoCenter, and a convention center with 1 million square feet of space. The Echelon Resort will be a 3,300 room hotel owned and operated by Boyd. The other hotels are expected to be a Shangri-La Hotel, a Delano Hotel, a Mondrian Hotel, and the Echelon Tower." Failing which, you could still refer to Echelon Las Vegas' site to get a clue of what the whole place is about.

While I knew you had problems with basic arithmetic, I never knew you had a provlem with words. Are you an illiterate? Do you understand what it means if I should tell you the USD4 billion construction cost for the Echelon Place is shouldered by Boyd Gaming Corporation exclusively? While there're plans in place for other hotels to operate within its premises, it doesn't render them a part of Boyd Gaming Corporation, does it?

If your stupidity isn't enough to compound matters, you might want to know that "one of the world's two most expensive IR's" (at least, to your warped mind) is actually jointly developed by Genting International and Star Cruises. So if your argument that Echelon Place isn't more expensive than LV Sands' Marina Bay venture just because there're strategic partners in the vicinity of Echelon Place who commit further investments to Boyd Gaming Corp's investments, how does it make sense to suggest Genting International and Star Cruises' joint venture is actually worth, on the basis of each individual entity (ie.in terms for idiots, viewing Genting International and Star Cruises' as seperate and independent entities), the SGD5.5billion investment?

If Echelon Place doesn't qualify as an Intergrated Resort, your intellect certainly wouldn't even match a gazelle's. Then again, how could anyone espousing such drivel even have the intellect of a gazelle in the first place? I'd most certainly have to retract my comparison of likening your intellect to a dog's - afterall, I'm sure that'd be an insult to the canines out there.

walesa SG

That's worth learning, certainly. Given your limited intellect and a persistent knack of being convinced SGD5.05 billion > USD4 billion (not to mention a belief that money can be printed at will as well), how is it humanly imaginable to subscribe to the notion the Ruppiah is actually a volatile currency? Going by the logic SGD5.05 billion > USD4 billion, it's hard to believe there's any currency more volatile than the USD, is it?

(Disclaimer : The abovementioned is exclusive knowledge reserved for the intellectually-disabled Gazelle)

walesa SG

Of course the fascists are proud of by-products like you - you're a living proof and role model of what someone inundated with excessive propaganda could and should become. Mr. Green

a) It's sheer stupidity (though I can understand your limited intellect does not permit you to understand this) to assume by demarcating land sizes of a complex for a designated business activity, one could achieve a projected output that is tangibly rigid. If you need any convincing, tell me if two stores of the same area in a shopping mall actually generates the same revenue.

b) This is even more comical than a). Then again, what else can I expect from an illiterate? For your drivel to work, can you conjure up some tangible formula to reveal the correlation between the revenue generated from a particular business activity and the land area upon which those activities are conducted?

Go on being the nonsensical propaganda mouthpiece this regime would be so proud of - if nothing, it certainly makes for some comical reading...

Atobe SG

I am surprised that you will take the trouble criticising statements from me that you believe to be nonsense, and I am sure the government do not need such unproductive persons to help them doing a great job shooting themselves in the foot.

Your earlier argument was the Singapore IRs will only benefit Singapore INC.
And I glad to say that I totally disagree with you

a) No GLC is involved in the IR, Genting Int is a listed company here in Singapore and their financial reports are open to investors.

You are described by someone to be a 'simpleton' and unfortunately ''I glad to say that I totally agree''.

No GLC is directly involved in the IR projects, but that does not mean that the GLCs will not be the biggest beneficiary of the IR.

The fact that the two pieces of reclaimed land were sold at such high prices by SINGAPORE Inc, already sounded the First Round win to them. The subsequent stamp duties on the multi-billion dollar contracts would have sound the winning bell for Round 2 to SINGAPORE Inc. Guess what comes next, more stamp duties on all the Main and Sub-Contracts awarded to the various foreign and local building contractors and vendors, PLUS the 7% GST applied on every invoiced transactions on each delivery to these two projects would have rung the bells for Round 3 and 4 to Singapore Inc - and all these are even before the Main and Sub-Contractors can even total their Profit and Loss on the Projects until at least 2 or 3 years into the future.

If you are not involved in the construction phases of both the IRs, what benefit are you hoping to get from the IRs at this Stage ?

b) How do you explain the MICE business which LV Sands intend to bring into Singapore. Doesnt this bring tourists and foreign income to singapore?

How have you benefitted from all the exhibtions that Singapore has hosted over the last 10 years : the Food & Hotel Asia series, the Singapore Auto-Car, the PC Shows, World Bank and IMF Meet, and other major events in the exhibtion calendar ?

The MICE business that LV Sands intend to bring into Singapore will end up with more MICE visitors making some contributions to the LV Sands cash registers. All that LV Sands need is a high turnover or throughput of visitors, with each spending anywhere between $100 to $1000, preferably high rollers throwing $1,000,000 a night. LV Sands will need a high volume of visitors in order to recover their $10 BILLION investment over the lease period of their investment.

The MICE events and other Family Entertainment is just a camouflage to make this Casino in Singapore a more palatable appearance to Singaporeans - who have been accustomed to the preachings of clean living by LKY. This turnaround is already hard enough to explain to the First Generation Founding Fathers, who are still alive, and who have already voiced their displeasure of the various policies beginning with their stepping down at the age of early 60s, while LKY continue into his mid-80s.

d) What about the unviersal theme park? Doesnt that attract families to Singapore? Do you have reason to believe that the whole family with their children will all end up at the blackjack table gambling away?

How simple minded can you possibly get ?

MacDonalds invest in advertisements to attract the very young, so that they will continue to recognise MacDonald Clown and familiar with the taste of French Fries and Big Macs till they enter their grave.

Do you think that MacDonald is helping your kids, or are they helping themselves ?

Having a Family Theme Park will make the visit to Singapore more palatable for any Family, and will add another avenue for LV Sands and Genting to EXTRACT Cash from the expeditures of the entire Family.

The Adults throw their monies at the Casino, while the kids throw more monies into rides and thrills.

At the end of it all who is the beneficiary ? LV Sands or Singaporeans ? Especially when the entire family do not even visit the shopping malls, or the heartlands where you are probably employed - for cheap shopping, or sight seeing, as the attractions at LV Sands and Genting will be too strong a magnet for them to resist.

All the existing thrill and rides in Singapore - from the propaganda Singapore Experience, to the various pathetic Volcano Mountain and Undersea World at Sentosa - are all dated and stale when compared to the more professionally planned entertainments that LV Sands and Genting-Universal Studios are bring in.

To sum it all, where is the benefit for you and other Singaporeans ?

The biggest winner will be SINGAPORE Inc, and both LV Sands and Genting.

""Judging by the track record of this Singapore Government, all you have is a fat hope, and the bulk of the additional income will go into the accounts of GIC and Temasek, as well as to the Private Accounts of the Cabinet Ministers and Civil Servants with more higher pay increases""

what is your definition on INCOME? Is it tax revenue from gaming of from the IR operator? or isit tourist dollars spend within the IR? or isit total tourist dollar spent in the country, as a result of having an IR?

If you cannot even understand the concepts of ''Planned Economy'' and ''Free Market {business ?}'' - it will be too taxxxxing to help you to understand the ''concept of INCOME''.

If you want a definition - it will be far easier to get one from google; surely you are capable of typing a simple entry into Google Search ?

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