To an outsider, the current debate on whether or not Singapore should have a casino is a bit strange. After all, nearby Muslim Malaysia has a casino (albeit with a strong set of restrictions), tiny Macau has been thriving on its gambling industry, and Thailand is also considering getting into the business. Can Singapore afford to be left behind at a time when it is positioning itself as a major tourism destination for the Chinese, who are big gamblers?
It is not as if gambling does not already exist in Singapore. Soccer betting and Toto - or betting on the horse-track - are daily occurrences for many locals. Indeed, nearly 10 per cent of the country's tax revenue is said to come from lotteries.
Yet, Singaporeans are split more or less evenly over the idea of hosting a casino. According to a recent local survey, 53 per cent are in favour of having the government approve casino gambling on Sentosa Island, while 47 per cent oppose it.
Opponents raise the spectre of money-laundering and organised crime, which would run against everything the country stands for, and upon which its reputation as a financial centre rests. Religious groups argue a casino would tear the nation's social fabric; some businessmen say it may not give the city-state any competitive advantages.
Yet, while Singapore's previous leaders were always dead-set against the idea, new Prime Minister Lee Hsien Loong broached the possibility in his maiden National Day Rally speech. Though he said the government would consider all views before making a decision (probably in January), he added: 'I think we shouldn't just say no. I think we should consider - can we have the casino and still contain the social problems? Let's study it. Let's see if there's some way to do it.'
The specialised gambling press is excitedly talking about it: reports say the giant players in the country's development and hospitality industries are already connecting with international gaming operators, in anticipation of the casino getting the green light. CapitaLand and Hong Leong Group are often touted as the main local players showing great interest in talks with foreign gaming operators. Some global casino heavyweights are already said to be salivating at the possibility of adding another country to their empire.
