Genting S’pore’s share price has been strong presumably because of expected high takings at its Sentosa casino.
Well if takings are high, it ain’t from high-rollers.
Sunday Times carried an article saying that at Resorts World Sentosa there is a bus terminus for buses from various points in West Malaysia and back, and that the buses are used by Malaysian punters visting the Sentosa casino
Err these high rollers that Sentosa IR and S’pore government want? Looks more like the M’sian equivalent of the grind market gamblers that once travelled from the HDB heartlands to Genting Highlands. Oh and BTW, Genting use budget airline AirAsia to bring in “high rollers”, unlike Marina Sands that has its own jet based in Senai because Changi is too expensive.
Can you imagine high rollers taking the bus from Senai to the city? It’s a two hr ride at least.
PM make yrself, yr government and party popular with the “little” people: Lift the charges that make it expensive for the locals to gamble at the casinos. As to the problem gamblers that seem to the issue, treat them the way the government treats the homeless, destitute and unemployed: “It’s yr fault, you are that way. Be responsible.”
And admit to yrself that the IRs are being kept afloat by the” little” people of S’pore and Malaya, not the high rollers and money-launders.
You can declare it a success that the fact that high rollers and money launders are giving S’pore a miss: the rules here on junket tours, money laundering and non-privacy are the toughest in the world.
Update 25 June
Why Marina Sands must be targeting locals and not high rollers and tourists — or why the numbers don’t add up http://atans1.wordpress.com/2010/06/24/why-mms-and-sands-views-on-casino-differ/