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Consultant: Singapore Ought to Have Casino

13 May 2004

SINGAPORE – As reported by the Singapore Straits Times: "Singaporeans spend close to US$1 billion (S$1.7 billion) a year in foreign casinos and having one here will not only plug this leak, but also give the convention industry a boost.

"The figure was cited by Dutch bank ABN Amro and a United States-based gaming and leisure consulting company, The Innovation Group, at an industry conference yesterday.

"…Pointing to Las Vegas as an example, Mr Sean Monaghan, the director of gaming and wagering research in East Asia and Australasia at ABN Amro, said that casinos support the convention and exhibition industry there.

"…'Singapore needs the infrastructure to support its convention and exhibition industry; otherwise, it might lose its market share,' he said.

"The unregulated gaming industry in East Asia is estimated to be worth US$13 billion.

"…Singapore is currently studying the possibility of setting up a casino on Sentosa…"

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