Singapore IR Casino - Boon or Bane

Singapore IR Casino - Boons or Banes?

Recently, Singapore built a casino in Marina Bay in order for Singapore to earn money to enhance the country and also to provide jobs for those who are unemployed. However, many Singaporeans have raised their opinion on the casino, many think that this will be an advantage to them whereas some of them may think that the casino would be actually be like a "virus" to Singapore.

Now I will start with the advantages to Singapore by building the casino. Who will it be beneficial to? Let's start with the obvious. Gamblers would obviously be elated that a casino is finally in Singapore. They would not have to head to Genting for the casino or Macau where the largest casino is located.Prime Minister, Mr Lee Hsien Loong stated that the tourism's sales have been dropping tremendously despite the Singapore Flyer and Sentosa. By starting the casino, Singapore tourism industry would be improved and the government would then turn Singapore into a better place. Unemployed people may also have a chance to be able to work in the casino which improves the status of life for the unemployed workers.

Now let's move on to the disavantages to Singapore's casino. Gamblers may be afected and are addicted to the casino. Saying that they lose $1000 per day and they are very desperate to repay the casino. There are only 2 alternatives. One is to borrow from a bank which they may reject the request or not is to look for loan sharks. Loan sharks will obviously lend you the money but you pay a higher price. The interst rate is rocket high and you would find yourself still unable to repay the loan back. Is this good for Singaporeans? Many people will obviously be paying their loans for the rest of their lives and some may even lose their jobs.

Personally, I feel that the casino should not be constructed at all. Looking at the pros and cons, the cons really overpower the pros easily.Despite increasing the tourism industry, it would affect more people and thus, the tourism industry would also fall soon. "Stay away if you don't want to play" is all I can say.