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Official: Singapore will thrive

25 October 2006

SINGAPORE – As reported by the Channel News Asia: "Minister Mentor Lee Kuan Yew has returned home following a visit to the US to meet executives developing Singapore's first integrated resort.

"The Singapore government is to award a contract this year to build a second resort, and has not ruled out further bids in the future.

"The construction will put Singapore alongside Las Vegas and Macau as a top destination for tourists and business travellers.

"…Big US corporations are already operating such destinations in Macau, and industry leaders say Singapore and China have developed a good strategy to compete.

"….The Las Vegas Venetian is a model for the type of integrated resorts Singapore would like to see.

"Only 30 percent of revenues here come from the casino, a statistic emphasised by the Minister Mentor who is keen that gambling only be a small component of Singapore's integrated resorts.

"…Singapore hopes that by developing integrated resorts similar to those found here in Las Vegas, it'll be able to compete with some of the top destinations in the world for the tourist dollar."

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