|
|
|
The Government of Singapore is considering the
development of an Integrated Resort (IR). This is envisaged to be an iconic
lifestyle development with a comprehensive range of world-class amenities
which may include hotels, convention facilities, retail and dining,
entertainment shows, themed attractions and a casino. |
|
The strategic objective is to broaden our leisure
and entertainment options to enhance Singapore’s reputation as a premium
“must-visit” destination for leisure and business visitors. |
|
Social Safeguards |
|
Social safeguards would be put in place if the IR
contains a casino gaming component1. These social safeguards aim to
address problem gambling and to mitigate potential impact on our families,
social values and work ethos. |
|
The social safeguards include a minimum age
requirement, membership system for Singapore residents, self-exclusion
programs, guidelines on credit extension, facility to allow setting of
voluntary loss limits, advertising guidelines and patron education. The
details are in
Annex. |
|
A robust and stringent regulatory regime will be
developed in Singapore. Similar to those imposed in leading global gaming
jurisdictions, a set of strict international regulatory standards such as
measures against money laundering, illegal money-lending, licensing and
screening of operators and employees will be imposed. This is also a key
consideration for potential investors. |
|
Request for Concepts |
|
The Government of Singapore is inviting potential
investors to submit their development concepts and investment proposals for an
IR. The Request for Concepts (“RFC”) will allow potential investors to provide
more information on the development concepts, investment size, and feasibility
of the conditions and requirements imposed. This will assist the Government in
making a decision on whether to proceed with the IR development. |
|
The key conditions and requirements in the RFC are
described in Annex. Potential investors will have up to end February to submit
their concepts. A formal Request for Proposals (“RFP”) will be called only if
the concepts received are compelling. |
|
All investors who are interested in developing an
IR in Singapore are invited to respond to the RFC. Only those who have
responded to the RFC will be subsequently invited for any call of RFP.
Potential investors can obtain the RFC package from: |
|
Singapore Tourism Board |
|
Tourism Court |
|
1 Orchard Spring Lane |
|
Singapore 247729 |
|
E-mail: IR@stb.com.sg |
|
|
MINISTRY OF TRADE AND INDUSTRY
MINISTRY OF COMMUNITY DEVELOPMENT, YOUTH AND SPORTS
29
DECEMBER 2004 |
|
[1] The IR
will have a compelling mix of non-gaming attractions, with casino gaming
revenues as a minority component of total IR revenues. It is expected that
international patrons, instead of local residents, will contribute a larger
proportion of total gaming revenues. |
|
More.....(Annex) |
|
Source:
Singapore Government Press Release 29 Dec 2004 |
|
Related Reading: |
|
Casino in Singapore? |
SingaporeUpdate.com All Rights Reserved
