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Singapore Casino Could Lead to Job Boom

4 January 2005

SINGAPORE – As reported by the Singapore Business Times: "A casino no bigger than 15,000 square metres as stipulated by the government could create more than 13,000 jobs when fully up and running. In the best-case scenario, 20,000 jobs could be added.

"Taking into account current spending at local betting avenues and Genting, Malaysia, and possible spending by tourists, Nomura Securities has come up with three possible scenarios of the economic impact on Singapore: conservative, base and optimistic. The main impact would be on employment, rather than on GDP growth, according to Nomura.

"…Nomura estimates, in the conservative case, that Singaporeans over the age of 18 spent about $2.32 billion - net of winnings - on 4D, horse-racing and Toto in the financial year 2003.

"…Under the optimistic scenario, the research house estimates average spending of $600 per visitor…"

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