Tan Kin Lian's Blog: Marina Bay Sands

Thursday, June 24, 2010

Marina Bay Sands

When will it reach full capacity? Read two forecasts here.

9 comments:

C H Yak said...: It does not take a lot of expertise to make such meaningless short and mid-term forecasts.

Adelson must be too optimistic while the MM had to be pessimistic a little. But he was quick to rebut well.

Both sides are more concern about the daily takings...profit & tax.

The ongoing Court case between MBS and IPBA is a MOCKERY ... one side demanding $300K for the conference and the other seeking unspecified damages (probably to be decided by High Court judge) for aggravation during stay; if it is fought out.

Compare it to what would be the takings each day. It is a big wayang.

At present, say 75,000 visitors estimated by MBS...if say 20% are citizens and PRs ... means 15,000 x S$100 = $1.5 million into the Govt's pocket each day...leave aside MBS's taking.

That's how they "would rather make LOVE, not WAR".

That’s why MBS would want to open early anyway and perhaps even turned the IPBA issue into a free publicity ...and made all the well known international Lawyers & Judges looked like stooges now, including the Chair.; June 24, 2010 9:21 AM
Anonymous said...: Lee Kuan Yew has no reason to run down MBS unless he really think that MBS can only reach full capacity in its 7th year. Whereas MBS's boss has every reason to lie to investors, whether he can achieve that that or not is the problem in 2011. By that time investors who open their eye big big probably going to get another spin from MBS's boss who already pocketed their monies.

Very likely Lau Lee is right in this case.; June 24, 2010 3:59 PM
Anonymous said...: Why old Lee never tell the IPBA to stand down? The IPBA is killing his golden goose leh.; June 24, 2010 9:06 PM
Anonymous said...: Whether the Sands boss or Lau lee is right, we do not feel comfotable with the casinos on home soil, We have a friend who commited suicide because of casino gambling debts, and these are incurred on foreign soil, not here.
We hate to read in the national papers that people spend ther night gambling in our casinos, and head straight to the office, without even returning home.
What kind of life is that?
Singapore is slowing heading to the dogs like Sands and the Genting family, and with the Govt smiling all the way to the banks.; June 24, 2010 9:47 PM
Anonymous said...: There can never be a GREATER SIN than any government promoting and encouraging gamblings in their own lands or others and for their own citizens or foreigners.

patriot; June 25, 2010 11:34 AM
Anonymous said...: I wonder why LKY chose to make a forecast on casino management. An area in which LKY has no prior operating experience.

Why not make a forecast on when Temasek will recover all the billions we lost in the financial crisis in 2008. At least LKY can claim some operational management expertise there.; June 25, 2010 2:37 PM
C H Yak said...: Hi Anon June 25, 2010 2:37 PM

U are wrong, of cos LKY had forecasted...

Temasek will recover the billions by the following formula :-

Total Loss in billions S$ divided by the following forecast by MBS (and add Sentosa levy to be optimistic).

"At present, say 75,000 visitors estimated by MBS...if say 20% are citizens and PRs ... means 15,000 x S$100 = $1.5 million into the Govt's pocket each day...leave aside MBS's taking."

So in one year Singaporeans and PR who visited would donated about 365 X 1.5 millions to the recovery fund for Temasek to recoup losses in billions ( 1 billion =1 000 000 000 000 ) , X 2 if you say Sentosa takes in the same S'pore citizens & PR but not too sure if likely.

So one year is S$1,095 millions revenue for the Govt...or it takes 913 years to recoup S$1 billion; just relying on 2 casinos.

The biggest CASINO in Singapore is still the Temasek SWF CASINO. That's why LKY forecasted it is long term investment. Thousands of years involved. Our maths no need as good as China students also can calculate...LOL; June 25, 2010 3:24 PM
Bongo said...: Life itself is a gamble.

Without a casino, people can still gamble: 4-D, Toto, soccer, the stock market...

When properly managed, there is little harm in people indulging in some light betting in casinos or elsewhere.

What about those who cannot control themselves? Results could be devastating for themselves and their families, but one cannot hold back society for the sake of a few. These people will have to be helped in some other ways - counselling, clinics and what-not.

We don't ban alcohol just because some cannot handle drink. We don't forbid swimming just because a few will drown. And so on.; June 27, 2010 11:05 AM
Anonymous said...: I had people telling me that it is difficult to get a cab nowadays on weekends coz all the cabs are at the casinos. I guess it would not be long before they hit their target capacity.; June 28, 2010 4:21 PM