Las Vegas Sands Casino Bringing Life To Singapore Economy

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The economy in Singapore had been struggling much like the economy in other countries in the past couple of years. Then came a casino from Las Vegas Sands, and suddenly the dragging economy has been resurrected.

Marina Bay Sands has only been open for a couple of weeks, but it has been enough time to determine that the casino will make a difference. Over a half million people have visited Marina Bay since it opened back in May.

The unbelievable turnout has analysts scrambling to re-adjust their expectations. Moody's Investors Service has changed their outlook S-REITs to stable. Other analysts believe that if the current trend continues, Marina Bay will smash revenue expectations for its first year.

The gambling taking place in Singapore is causing concern in other areas of the world. In Las Vegas, customers have already been lost to Macau casinos, and now the Singapore casinos are expected to take even more of Sin City's visitors. Asian gamblers, once a staple in Las Vegas, are choosing to stay closer to home now to gamble.

Las Vegas Sands is one of the US based gaming companies that understands the global growth of the casino industry. Sands, Wynn Resorts, and MGM Mirage all have properties in Macau, and the companies are not stopping there, with other casinos planned in several different countries.

One third of the visitors to Marina Bay Sands, according to Michael Levin, CEO of Las Vegas Sands, are coming from Singapore. The rest of the customers are travelers coming in from other Asian countries.

June 4, 2010
Posted By April Gardner
Staff Editor, CasinoGamblingWeb.com
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