Tuesday, November 18, 2008

IRs in Trouble

Any doubts anyone has that the two integrated resorts (IRs) in Singapore are in trouble have been dispelled. Both firms building the IRs have requested the Singapore government to allow them to open their projects in stages.

Singapore Senior Minister of State for Trade and Industry S Iswaran (a seemingly busy man nowadays) told Parliament the government is ‘considering’ the requests. To put my two cents in, I have to say that the government should let them open in stages.

Although a lot has been said about how the two sites are ‘resorts’ but everyone and their uncle know that these two are there for the casinos. If Resorts World and Marina Bay Sands are having problems finishing the projects; let them open their casinos first then. It’s what they are there for.

That is, to me, a far better idea than to let the projects falter, or even worse; letting the Singapore government bailing them out. That is something we should avoid at all cost.

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