IRS

							THE CASINO DEBATE: – WHY THE IRS WILL BRING IN MORE THAN JUST
MONEY TO SINGAPORE

Intro & Bkd
The Singapore government had recently announced plans to build a Integrated Resort in
Singapore. Promising us that there would be many benefits to the economy, tourism
among other things. Whilst the nation seems somewhat divided amongst this issue, with
many concerned over the negative aspects of gambling which could lead to large
debts/bankruptcy/addiction/depression/suicide. We feel that these issues can be curbed
with the guidelines the government has drawn up including $100 entry fee and
education/counseling progammes to name a few.

We stand firm along side the government’s initiative to undertake the Integrated Resort
and see the many fruits that can be reaped from this project.

Integrated Resort - Singapore
   1. Boost to economy e.g Monaco, Las Vegas, Sydney, Macau
   2. Jobs – up to 10,000 jobs will be generated – dealers, entertainment scene, food &
       beverage, hotels, flights
   3. Tourism – visitors will explore our existing attractions – Sentosa, Esplanade,
       Orchard rd
   4. Make Singapore a more attractive city to live in – attract Foreign talent

Counter Arguments
  1. Cynics may argue there are many other cities who are able to have a thriving
      economy without casinos. Isn’t the casino project itself a money guzzler? Can’t
      that money be poured in to other industries or social welfare groups?
  2. Why are we creating more jobs? (CA) when we have enough jobs already???
  3. We already have sufficient landmarks, lack of space as it is.
  4. Gambling is a vice – rise in bankruptcy/loan sharks/suicides – is this making
      Singapore a more attractive city to live in?

Conclusion
Despite these concerns raised, we feel that Singapore is ready for a casino, it will really
put Singapore on the map, attracting many new visitors and in turn boost the economy
and profile of this not so little red dot. As quoted by PM Lee “The IRs are an important
step forward, but it is only one of many things we must do to remake our city, and
build a new Singapore. This is a larger task, and one which requires the
commitment and efforts of all Singaporeans. Let us continue to work closely
together to realise this vision, and make ours a vibrant and dynamic city in Asia.”