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Discussion Starter · #1 · (Edited)
Future Integrated Resort (IR) at Marina Bay & Sentosa

An imaginery sketch done by the new paper:





The Electric New Paper :
The little red dot just got hotter
THEY can't wait for it to get going.
Regular travellers from Indonesia have been keenly following Singapore's plan for an integrated resort (IR).

20 April 2005

REPORTING FROM JAKARTA
By Jo Budimanin
[email protected]

THEY can't wait for it to get going.

Regular travellers from Indonesia have been keenly following Singapore's plan for an integrated resort (IR).

They said they often use Singapore as a stopover on flights to other destinations. Now they may be tempted to stay longer.

Many rich Indonesians frequent Singapore, and inject a considerable amount of money into top-end property and financial investments.

Indonesians are among Singapore's top tourist spenders with an average of $792 spent per visit last year.

Some even call it their second home.

Now they are excited by Prime Minister Lee Hsien Loong's announcement yesterday giving the go-ahead for two mega resorts to be built in Marina Bay and Sentosa.

WEALTHY INDONESIANS

For years, wealthy Indonesians have travelled around the world for the resorts and casinos.

Mr Eddy Widodo, 65, a semi-retired businessman, is one of them.

Along with his wife and siblings, he frequently goes on weekend cruises. He says it's a holiday with great shows, good food - and a casino.

Like him, the friends he travels with are usually businessmen, between the ages of 35 and 50.

In a few days, the 'big fish' among them can spend $100,000 to $200,000 on such trips.

Mr Widodo said it is about time that a major resort with gambling facilities is developed here.

He said: ''Now Singapore realises that they're losing potential monetary gain to places like Macau and Las Vegas. Singapore has wised up.'

Mr Tino Muljana's daughter - who works in Singapore - has been sending text messages on the latest news.

The 56-year-old visits his daughter every two or three months.

He was all for an integrated resort with major shows, restaurants and other entertainment outlets.

He said: 'I was happy when my daughter told me the news. It will be very convenient. When my wife shops, I can gamble.'

Mr Richard Mangaweang, 33, a magazine editor and a former civil servant, thinks it's about time for Indonesia to consider one too.

He said: 'I think that (legalising gambling) is something we (Indonesia) ought to have done a long time ago. We are clearly losing money from Indonesians going overseas to gamble.

'Islamic teaching forbids gambling, but we can regulate things properly the way the Malaysians do. Allow gambling for non-Muslims.'

Political analyst Effendi Gazali predicted that Indonesians will travel to Singapore in droves.

More Indonesian cash will be spent, not just at the IRs, but on everything from property to shopping.

Dr Hakim Murni, an economics lecturer at Jakarta's Atma Jaya Catholic University, agreed.

FOREIGN INVESTORS

He said there's also the possibility of foreign investors - who may have originally considered investing in Indonesia - moving their funds to Singapore. Because the IRs may make Singapore far more profitable.

Any advantages for Indonesia, then?

Mr Sukardi Rinakit, a political analyst, said there will be a decrease in illegal gambling activities at home as those who can afford it will travel to Singapore instead.

According to Indonesian law, all forms of gambling are illegal.

It is difficult for the government to overturn this law and legalise gambling as opposition by religious leaders is strong. Yet gambling is widespread.

Simple casinos exist in Hayam Wuruk and other areas of Jakarta's Chinatown.

So why not have a legal one in Indonesia too, some are asking now.

Mr Rinakit said: 'Although illegal, gambling continues to thrive business here. It's better to legalise it, so the state can benefit from the taxes.'

But Mr Rudy Bera, a lawyer and member of the Indonesian Bar Association, said the Muslim opposition is just too strong.

He said: 'Legally, it will be a disadvantage for local as well as foreign investors should gambling be legalised in Indonesia, as the law can be easily overturned at any time. The opposing party is too strong at the moment.'

MALAYSIA
Will Genting suffer?

By Faith Teo
[email protected]

TOURISM in Malaysia may be affected once the IRs are built in Singapore.

'Peripheral tourism services like hotels and transport will be affected,' analyst James Wong, of think tank Strategic Analysis Malaysia, said.

'Visiting Singapore is a whole travel package, shopping and sight-seeing included. So, building the IRs is a good idea as an income-earning project.'

Businessman Yu Khea has another concern: Security. And he's confident the IRs here will be safe.

'He was robbed five years ago as he left Malaysia's Genting Highlands casino resort.

'Our group of four was leaving Genting by car when we noticed another vehicle behind us. It then cut in front of us and stopped,' he said.

'Two men ran out, and threatened us with a gun. We gave them everything we had, including RM30,000 ($13,000) and two Rolex watches.'

Mr Yu, 48, who frequents Genting and regularly travels to casinos in Las Vegas and elsewhere, was excited to hear about the two IRs.

'I will definitely go to Singapore then. Things are generally better-run. Since I live in Johor, it will be easier and faster to go to Singapore,' he said.

He said if the resorts are world-class, he might even forgo other trips and come here more often.

Madam Wang Bao San, 46, who owns an import-export business, is also planning to turn her back on Genting.

She now goes there once a fortnight and spends up to RM5,000 gambling - more if her husband goes along.

'I was so excited when I first heard of a possible IR in Singapore, and now there are going to be two. If my luck isn't so good at one, I can go to the other one,' she said.

Mr Huang Sheng Hua, 35, a sub-contractor, said: 'We're definitely coming in droves to visit your resorts.'

But the analyst, Mr Wong, said Genting should not be written off.

'In the first few years, tourists may bypass Malaysia to visit Singapore. They want to see something new, but once the novelty wears off and they have weighed the pluses and minuses, they might well go back to Genting.

'Genting's advantage is in being a hill-top resort. The weather's cooler and people see it as a retreat from city life, unlike metropolitan Singapore.'

The Genting Group is confident that the IRs present itself with new investment opportunities. Malaysian newspapers reported that yesterday, Genting Bhd's share price rose to a three-week high (RM17.80) on strong volumes in reaction to the Singapore news.

But some analysts told the New Straits Times that Genting's gaming-heavy business profile could work against the group as Singapore does not want its integrated resort to be gaming-centric. However, they said, its tie-up with Universal was positive as it showed that it was committed to develop the non-gaming business as well.

'With Universal in the picture, they do have a fighting chance,' analyst Keith Wee of Avenue Securities told the paper.

Another analyst told the Star that if Genting does not win the bid, it would lose its Singapore customers as well as those in Johor, who would find it nearer to go to Singapore than to Genting Highlands.

THAILAND
'It will attract many Thais'

By Kor Kian Beng
[email protected]

SINGAPORE'S IRs will spur the Thai government to pursue its own casino plans.

That's what economics lecturer Samart Chiasakul of Chulalongkorn University believes.

Casinos are illegal in Thailand. But a study by the university found that in 2001 Thais poured 518.6 billion baht ($21 billion) into underground lotteries, overseas and illegal local casinos, soccer betting and other forms of gambling.

In 2002, the government said it was considering setting up an entertainment complex with a casino in Pattaya. But the plan was rejected.

Said Dr Samart: 'I'm sure the Singapore resorts and casinos will attract many Thai visitors, especially in the early stages.

'The Thai government will feel the pressure to reconsider its casino plans because of the competition, especially in the tourism industry.'

Every fortnight, Thai businessman Jiradach Huayhongchong takes a three-hour drive from Bangkok to the Cambodian border town of Poi Pet, which has nine casinos.

Mr Jiradach, 38, who owns a travel agency said: 'Singapore is safer than the Cambodian casinos, so I'm sure I'll make a visit to the resorts when they're ready.'

Mr Pirach Hansrishuk, 58, who owns a travel agency, said he and his friends have been following the news closely and are keen to visit the IRs once they're built.

'Visitors can probably reach them within 30 minutes from Changi Airport. Singapore will also attract the richer Thais who go for regular shopping trips,' he said.

Copyright © 2005 Singapore Press Holdings Ltd. Co. Regn. No. 198402868E. All rights reserved.
 

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Discussion Starter · #3 ·
encon said:
has anyone has the pics of the casino resort?
No rendering yet as they have not choose the final design........must wait about 6 months.....:yes:
 

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Discussion Starter · #4 ·
21 April 2005

Wynn Resorts lack sufficient funds for Integrated Resort bid: Merrill Lynch

By Thomas Cho/Connie Tan, Channel NewsAsia

SINGAPORE: A perceived frontrunner for Singapore's integrated resorts bid, Wynn Resorts, may have run out of funds needed to finance the project.

This is according to US investment bank Merrill Lynch.

In a report out of New York on Wednesday, Merrill Lynch downgraded Wynn's stock to "sell", from "neutral"

It noted that Wynn had announced nearly $5 billion US dollars of capital projects since its initial public offering.

And so, Merrill had concluded that Wynn's balance sheet is probably exhausted.

Wynn had submitted one of 19 concept proposals to develop an integrated resort in Singapore.

The proposal is estimated to be worth between SG$2 and SG$3 billion.

Sources tell Channel NewsAsia that Wynn's concept may have included a proposal for the Singapore government to have 30 percent ownership of the development.

But, without naming any names, the idea of government involvement was rejected by Minister Mentor Lee Kuan Yew in Parliament on Tuesday.

With that part of the plan scuttled, sources say Wynn has to find another partner or get fresh funds for its project.

When contacted, Wynn declined to comment.

Several analyst reports had earlier named property firm, City Developments, as Wynn's likely partner.

CityDev said it had not entered into any exclusive arrangements with any parties at this stage.

US-based Wynn has been involved in several mega projects in the last few years.

Most notably, the US$2.7 billion dollar Las Vegas resort, the city's first new resort in five years, due to open next week.

Another adjacent development, called Wynn Encore, has also been expanded, bringing its estimated cost US$1.4 billion.

But Merrill's assessment isn't shared by New York-based Prudential Equity Group, which is keeping its "overweight" rating on Wynn.

Prudential said Wynn's valuations remain healthy, and does not believe that it needs to raise more equity to pursue other projects. - CNA /dt

Copyright © 2005 MCN International Pte Ltd
 

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babystan03 said:
Casinos
New rivals for Sentosa
Now Hong Kong wants it, maybe China, too. By Seah Chiang Nee.
Dec 8, 2004

Hong Kong - Even before the Singapore government gives its official nod, Sentosa's proposed casino may soon spark off a similar trend - and strong rivalry - in Hong Kong and mainland China.

Even the communist giant is thinking the once unthinkable - moving into the casino industry - partly to keep money from flowing out.

I have just returned from a brief visit to Hong Kong where I was told that Beijing University will co-host an international conference on gambling this week.

This itself is a milestone because Mao Zedong had denounced this activity as a "bad social custom from a landlord era."


It might be bad news for Macau, though, just as the Sentosa project is worrying Genting.


http://www.littlespeck.com/region/CForeign-Hk-041208.htm
Politics in this world has come a long way:

First Communism by Communist, then Democracy by Democrat and now Casinolism by Casinoist :laugh:

If I'm the CEO of Genting, most probably I will not only lossing sleep but also lossing hairs as well:

If Genting win the licence here:

1. Gaming tax income to Malaysian Government will be reduced and this will upset the Malaysian Government

2. Malaysian will criticise him for pumping big money in Singapore but not Malaysia and the reason for bringing Universal Studio to Singapore

If Genting doesn't win the licence here:

1. Two IRs will dent a big hole in its earning

2. Malaysian will definitely ask Genting to bring Universal studio to Malaysia.

Sometimes is better to be security guard than to be CEO because security guard has little worry and can sleep like pig in the night. ZZZZZZZZ :laugh: :hilarious

Damned if you do, Dead if you don't
 

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First Casualty, now left with 12 bidders, 18 proposals.


亚洲新闻网] 香港22日消息,香港新世纪集团星期五宣布,由于新加坡政府不接受其提呈的附设赌场综合娱乐城建议书,所以集团不会继续此计划。

集团总裁黄伟杰(音译Ng Wee Keat)在一份新闻稿中说:“新加坡政府已经以书信方式通知我们计划书不被接受,有鉴于此,公司将不会进行此计划。”

广告


新世纪并未提供其他资料。

该船务和地产发展公司今年二月表示,在新加坡公开邀请投资者提呈附设赌场的综合娱乐城计划书后,公司随即提呈了投资计划书。

新加坡政府日前公布,将在滨海湾和圣淘沙岛兴建两座综合娱乐城。业界预料,娱乐城将包括豪华酒店、主题乐园、会议中心和表演场地;国际著名的赌场经营商都纷纷联合娱乐集团提呈了计划书。
 

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Theme park operator is not only good in operating theme park, good in free ride as well.


迪斯尼原想落户实里达
  因我国不愿贱卖土地告吹

--------------------------------------------------------------------------------

● 林顺华

  政府曾向华特迪斯尼(Walt Disney)建议在实里达兴建一个迪斯尼乐园,并愿意在附近增建一个地铁站以方便游客前往玩乐。然而,谈判最终却因双方的不同经商模式而拉倒。

  贸工部长林勋强昨天在国会上说:“我们在实里达物色了一片土地,甚至愿意在杨厝港地铁站和卡迪站之间增设一个地铁站,方便游客日后前往迪斯尼乐园。我们有实里达高速公路,所以交通便利。那是一个优美的地点,背景是实里达蓄水池。”

  “但是,我们不愿意以低价出售300公顷的土地,并支付给华特迪斯尼高昂的发展和管理费用,因此谈判失败了。”

  部长是针对国会议员在过去四天提出兴建一个没有赌场的综合度假胜地的建议,透露出政府曾多番尝试吸引国际业者前来本地开设没有赌场的主题公园,但都不成功。

所接洽的主题乐园

不愿投入大笔资金

  他指出,政府在90年代和华特迪斯尼与环球影城主题乐园(Universal Studios)接洽后,了解到这些业者只提供主题公园的经营软件、专利权、品牌等,却不愿投入大笔资金,不要承担太大的财务风险。即使主题公园还未正式投入服务,它们便因“借出”品牌和景点概念而收取发展费。当主题公园接待游客后,无论业绩表现如何,它们都会征收部分的入门票收入作为管理费。

  “当时有人告诉我,不要只把华特迪斯尼视为主题公园业者,它也是一个房地产业者。因为它们要一大片土地来建主题公园,而随着主题公园深受欢迎,附近地皮的价值上涨,它们便从增值中获利。”

  林勋强指出,东京迪斯尼乐园占地70公顷,但华特迪斯尼在90年代和我国洽谈时,却要求300公顷的土地;第一阶段的景点占用70公顷,之后再发展第二和第三阶段,其余土地供日后使用。

  “我们虽一直在努力争取这些国际业者,但除非我们愿意持有很高的股权,并资助这些主题公园,不然很多业者都不愿意前来落户。”

  他以香港迪斯尼乐园为例,指出当地政府拥有57%股权,并可根据不同状况增加至75%。“但这并非我们愿意接受的经商模式,因为我们认为主题公园应该纯粹由私人企业经营,政府不应入股。”

  他表示,国际业者具备丰富的专业经营经验、良好联系网络和保持景点新鲜感的能力,政府因此无需作出艰难的决定。

  “好比业者决定推出鲸鱼水族馆,那便是业者的决定,而不是我希望看到鲸鱼在水族馆游泳。”
 

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Charging Bull said:
Politics in this world has come a long way:

First Communism by Communist, then Democracy by Democrat and now Casinolism by Casinoist :laugh:

If I'm the CEO of Genting, most probably I will not only lossing sleep but also lossing hairs as well:

If Genting win the licence here:

1. Gaming tax income to Malaysian Government will be reduced and this will upset the Malaysian Government

2. Malaysian will criticise him for pumping big money in Singapore but not Malaysia and the reason for bringing Universal Studio to Singapore

If Genting doesn't win the licence here:

1. Two IRs will dent a big hole in its earning

2. Malaysian will definitely ask Genting to bring Universal studio to Malaysia.

Sometimes is better to be security guard than to be CEO because security guard has little worry and can sleep like pig in the night. ZZZZZZZZ :laugh: :hilarious

Damned if you do, Dead if you don't

Oh I'd rather lose a few hairs and be one of Malaysia's richest tycoon :D

And he's a nice gentleman......met him once and have a nice chat with him ;)


Okay......first.........Gaming tax isn't a big contributor to the Malaysian economy. If Malaysia is so concerned about gaming tax, there would already be 3 more casinos in Malaysia ;) Apart from that.....we've also got 4D, Toto and horse-racing so those are bigger in gaming tax gainer than Genting alone :)


Seriously lah......this issue now is so hot in Malaysia that anyone and everyone is talking bout it. BUT no one is blaming Genting nor jealous that Singapore is gonna have a Universal Studios. In fact most Malaysians knew that Malaysia alone isn't enuf to support a themepark that scale and should any themepark of such scale be made.....it had to be at least at Johor or Melaka due to its proximity to Singapore and the availability of land (land around Klang Valley and state of Selangor and Negeri Sembilan is darn expensive). So having a Malaysian company bringing a world-class themepark to Singapore is a non-issue here at all. Even the media did not hype about it at all ( I am sure they would if it helps to sell :D ).


If Genting din win......none of those that you said would matter.

Firstly.....the gaming revenue at the highlands isn't too much to dent the company's balance sheet. Secondly Singaporeans and Johoreans isn't the main contributor to Genting's gaming although it is a substantial number.

Thirdly.....Genting are very diversified.......their Star Cruises would still bring in gaming revenue from Singapore, Thailand, China and HK. They are involved in the gas and oil business as well which I believe is extremely profitable esp given today's oil prices. Then they are also one of Malaysia's independent power producer which are a guaranteed money making business. They are also in real estate, plantations and is a major paper-maker.

They also have a substantial stake in Stanley Leisure ( now Stanley Genting Leisure :D ) and London Clubs. So they would be a big player in UK's gaming scene as well. Apart from that, they are also cash-rich which is also very favourable amongst govts around the world should they want any IR and casino to be built. A cash horde of USD $1 Billion is something not everyone had ya know :D

So they won't die....period. ;)
 

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Second Casualty?


Wynn Resorts lacks sufficient funds for integrated resort bid: Merrill Lynch
By Thomas Cho/Connie Tan, Channel NewsAsia

SINGAPORE: A perceived frontrunner for Singapore's integrated resorts bid, Wynn Resorts, may have run out of funds needed to finance the project.

This is according to US investment bank Merrill Lynch.



In a report out of New York on Wednesday, Merrill Lynch downgraded Wynn's stock to "sell", from "neutral".

It noted that Wynn had announced nearly US$5 billion of capital projects since its initial public offering.

And so, Merrill had concluded that Wynn's balance sheet is probably exhausted.

Wynn had submitted one of 19 concept proposals to develop an integrated resort in Singapore.

The proposal is estimated to be worth between S$2 and S$3 billion.

Sources tell Channel NewsAsia that Wynn's concept may have included a proposal for the Singapore government to have 30 percent ownership of the development.

But, without naming any names, the idea of government involvement was rejected by Minister Mentor Lee Kuan Yew in Parliament on Tuesday.

With that part of the plan scuttled, sources say Wynn has to find another partner or get fresh funds for its project.

When contacted, Wynn declined to comment.

Several analyst reports had earlier named property firm, City Developments, as Wynn's likely partner.

CityDev said it had not entered into any exclusive arrangements with any parties at this stage.

US-based Wynn has been involved in several mega projects in the last few years.

Most notably, the US$2.7 billion Las Vegas resort, the city's first new resort in five years, due to open next week.

Another adjacent development, called Wynn Encore, has also been expanded, bringing its estimated cost US$1.4 billion.

But Merrill's assessment isn't shared by New York-based Prudential Equity Group, which is keeping its "overweight" rating on Wynn.

Prudential said Wynn's valuations remain healthy, and does not believe that it needs to raise more equity to pursue other projects. - CNA /dt
 

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babystan03 said:
No rendering yet as they have not choose the final design........must wait about 6 months.....:yes:
oh ic quite long
 

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Charging Bull said:
First Casualty, now left with 12 bidders, 18 proposals.


亚洲新闻网] 香港22日消息,香港新世纪集团星期五宣布,由于新加坡政府不接受其提呈的附设赌场综合娱乐城建议书,所以集团不会继续此计划。

集团总裁黄伟杰(音译Ng Wee Keat)在一份新闻稿中说:“新加坡政府已经以书信方式通知我们计划书不被接受,有鉴于此,公司将不会进行此计划。”

广告


新世纪并未提供其他资料。

该船务和地产发展公司今年二月表示,在新加坡公开邀请投资者提呈附设赌场的综合娱乐城计划书后,公司随即提呈了投资计划书。

新加坡政府日前公布,将在滨海湾和圣淘沙岛兴建两座综合娱乐城。业界预料,娱乐城将包括豪华酒店、主题乐园、会议中心和表演场地;国际著名的赌场经营商都纷纷联合娱乐集团提呈了计划书。
Brother...you think everyone here can read Chinese meh....at least offer one line summarising its contents lah! :bash: :D Apparantly Pengui didnt get a clue!
 

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Discussion Starter · #13 ·
Business Times - 22 Apr 2005

INTEGRATED RESORTS
Kerzner to improve proposal for Sentosa gaming resort

Atlantis owner sees 26% of sales from casino portion


(SINGAPORE) Kerzner International, owner of the Atlantis Resort in the Bahamas, said it's improving its proposal for an integrated resort in Singapore to outdo competitors that are offering a Universal Studios theme park and other attractions.

Kerzner, whose planned investment in Singapore would be in excess of US$1 billion, is among 13 bidders that submitted 19 proposals for two planned resorts in the country, which lifted a four-decade ban on casinos earlier this week. Singapore plans to award the projects by the end of this year and aims to have the gaming resorts open in 2009.

'It's a very attractive opportunity and the competition is going to be fierce,' said Ian Douglas, 43, Kerzner's development executive for the Singapore project, in an interview. 'We're improving on what we've done, and what we'd do would blow away the customer.'

Kerzner and other bidders, including Harrah's Entertainment Inc, are improving their proposals as competition intensifies with a second round of bidding after the casino decision. The government will name the winning bidders by the end of the year.

Kerzner is bidding for a site offered by the government on the resort island of Sentosa along with local partner CapitaLand, Singapore's biggest developer by sales and which is majority owned by the government.

Kerzner's competitors for the site include Harrah's, whose acquisition of Caesars Entertainment Inc will make it the biggest US casino operator; Tabcorp Holdings, Australia's largest gaming company; and Malaysia's Genting Bhd, which teamed up with the theme-park unit of Universal Studios on an investment that could cost as much as US$4 billion.

'The bid with Universal appears extremely strong based on information that's available,' said Winston Liew, an analyst at OCBC Investment Research in Singapore. 'The bidders are generally revising their offers because the competition is getting stiffer.'

Harrah's chief financial officer Charles Atwood said earlier this week the company will 'reinforce' its bid for the two proposals submitted for the Singapore casino resorts.

Singapore is offering another site for a casino resort at Marina Bayfront, near the main commercial district. CapitaLand teamed up with MGM Mirage, one of the two biggest casino operators in the US, on the downtown location.

Kerzner's Atlantis was the first example of a gaming integrated resort cited by the Singapore government when it floated the idea of a casino in parliament in March 2004.

Kerzner's US$1 billion Atlantis resort relies on the casino, the biggest in the Caribbean, for 26 per cent of sales, Mr Douglas said. He expects a similar revenue mix for the Singapore development, he said. - Bloomberg

Copyright © 2005 Singapore Press Holdings Ltd. All rights reserved.
 

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Hohoho.....btw anyone saw the Disneyland article in the ST today? Think its addresses the concerns by some who wonder why we cant have IR without the casinos. ;)
 

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Discussion Starter · #15 ·
huaiwei said:
Hohoho.....btw anyone saw the Disneyland article in the ST today? Think its addresses the concerns by some who wonder why we cant have IR without the casinos. ;)
This one ah?? ;)

April 22, 2005
S'pore almost had its own Disney park

SINGAPORE almost got its own Disneyland in the Seletar area, but the deal fell through, Trade and Industry Minister Lim Hng Kiang revealed yesterday.

Negotiations went as far as identifying the site, he said.

The Government was even prepared to add another MRT station to the North-South MRT Line, between Yio Chu Kang and Khatib.

With the Seletar Expressway, travel there would have been very convenient.

'It's a lovely site with the reservoir as a backdrop,' he said.

But in the end it did not work out, because Disney wanted a huge 300ha chunk of land and was not prepared to put its own money into paying for it.

Mr Lim told Parliament that this happened in the 1990s when the Government was keen to attract a major theme park like Disneyland or Universal Studios to set up here. It would have been an attraction without a casino.

He was addressing a question raised by several MPs over the last four days on why the Government could not just allow integrated resorts without casinos.

'We have tried many times to attract theme park operators to Singapore without a casino element, but without success,' he said.

The exercise proved to be a lesson in how the big players operate.

'Theme park operators are actually content companies. They really provide only the software and the intellectual property, the brand.

'And for that, they do not want to put too much of their own money,' he said.

'They earn a development fee even before the theme park operation starts. And then when the operation starts, they earn a management fee... and they take a cut of the gate takings.'

In negotiating with Disney, the operator appeared like a real estate developer in that it saw that if the project proved successful, capital value of the surrounding land would appreciate and they could make capital gains out of that land.

So even though Tokyo Disneyland had been developed on a site just over 70ha, Disney wanted more than four times to develop a Singapore attraction in three phases.

'But we were not prepared to pay the very high price needed to give away 300ha of land at a very low cost... So the deal fell through,' he said.

Hong Kong managed to attract the operator and its Disneyland is set to open later this year. But Mr Lim said that happened because the Hong Kong government owns 57 per cent of the whole operation.

'This is not the model we are prepared to go into because we believe that a theme park should be run essentially by the private sector.

'It should not be owned by the Government,' he said.

Copyright © 2005 Singapore Press Holdings. All rights reserved
 

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Yeah. :D Think I heard of it before, and its that long streatch of land to the south of Upp Seletar Reservoir. Would you guys want a Disneyland there?
 

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Discussion Starter · #17 ·
huaiwei said:
Yeah. :D Think I heard of it before, and its that long streatch of land to the south of Upp Seletar Reservoir. Would you guys want a Disneyland there?
I wonder how much more tourist will there be in Singapore if there is Disneyland and Universal studio?? :eek::lol:
 

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Well.....Its kind of strange to have Disneyland here loh. Wha a strange cultural clash....muahaha.
 

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Discussion Starter · #19 ·
huaiwei said:
Well.....Its kind of strange to have Disneyland here loh. Wha a strange cultural clash....muahaha.
In what sense?? Mickey Mouse speaking in 4 languages?? :lol:
 

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Muahaha....or how about in Singlish? :D
 
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