Casinos are one of the main attractions in Singapore

Last Updated on 7 May 2023 by Nicholas Lim

Singapore Formula1 BettingShe was quoted as saying that “the profusion of sites to visit, sounds, tastes, culture and attractions” guaranteed visitors an interesting and enjoyable visit to Singapore.

Many places of interest to visit in Singapore

According to Ms. Yea there are many places in particular that are worth a detour. “The new National Museum is not to be missed, with its space dedicated to creativity and citizenship. The museum offers a rich cultural life in an entertaining and interactive manner which is aimed at Singaporeans and tourists from around the world,” notes Ms. Yea.

The casino industry in Singapore

But it is the vast and prestigious offer of casinos Singapore which is probably responsible for attracting many millions of travelers who visit this corner of Asia. Since the first casino was opened in Singapore, it has developed into the third casino destination worldwide in terms of revenue behind Las Vegas and Macau. For a decade now Singapore has sought to re-position his attraction to the high-end and high income tourists.

Formula 1 Singapore

This repositioning has been felt not only through the development of the casino industry. But also by the prestigious Formula 1 Grand Prix in Singapore that attracts much interest worldwide and is also the only grand prix to take place at night. It is an urban circuit like in Monaco which sees the best pilots compete. Lewis Hamilton, Fernando Alonso and Mark Webber race around the streets of Singapore with the circuit passing very close to the Marina Bay Sands Casino.

Foreign visitors driving demand for Singapore’s casinos

Foreign gamblers are making up an ever-increasing percentage of the total visitors to Singapore’s new casino resorts, figures from the Marina Bay Sands casino resort suggest.

Declining local visits

According to Sheldon Adelson, chairman of the Las Vegas Sands Corp. (which owns the Marina Bay Sands), the resort now welcomes four foreign guests for every Singaporean visitor.
Although more precise figures weren’t made available, this still marks a significant increase. In October 2010, local visitors still accounted for 38% of Marina Bay Sands’ total visitors.

Much of this seems to be due to an influx of foreign gamblers. The players keen to experience the lavish new gambling resorts in Singapore. However, a campaign by Singaporean authorities to deter locals from visiting also seems to have been somewhat effective.

A welcome sign for Singapore

Singapore’s tourism industry has benefited massively from the success of its new casino resorts. However, they remain controversial in this conservative Asian country.
Both the authorities and population alike remain concerned. They fear many Singaporeans will play there frequently, racking up huge losses in the process.

In response, a number of measures have been imposed to deter locals from gambling there. These include the abolishing of free bus services to the casinos, along with expensive entry levies and annual membership fees for local gamblers.

Continued growth from abroad

Despite the success these measures are having in discouraging local visitors. The gambling boom that’s sweeping Asia will more than cover any shortfall.
Both the Marina Bay Sands and the Resorts World Sentosa have performed beyond expectations since opening in 2010. As with the continued rapid growth of Macau. Much of this is down to gamblers from across Asia flocking to these resorts to gamble in style.

Foreign customers are also preferred by the casinos, as they’re typically willing to spend more there than the local population does. The outlook certainly remains positive: In a recent report, PriceWaterhouseCoopers declared that Singapore’s gambling sector generated $2.8 billion in 2010. By 2015, this is expected to exceed $7.2 billion a year.