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Singapore to Receive Nation’s First Casino

April 18th, 2010 | Comments Off | Posted in News

According to reports, the Asian city state of Singapore will be getting its very first casino thanks to the success of Malaysian casino company Genting Singapore PLC. This move beats out a similar attempt by the Las Vegas Sands Corporation’s attempt to put a luxurious casino in downtown Singapore. The license will allow the facility to be possibly open by the upcoming Lunar New Year, a huge change for Singapore which has never before offered gambling for its citizens and tourists since gambling has not been legal there for decades. Since the casino industry in Asia is growing at an incredible rate, many companies are waging a hard battle against the kings of the Asian casino market in Macau, a world famous gambling destination. Cambodia, Malaysia and the Philippines have all gotten in on the action, trying to get their own share of this rapidly expanding market, each working to find a crucial edge over their competition.

With China and India developing so rapidly, those countries are seeing huge numbers of tourists head for the smaller Asian countries, particularly those in island zones. Singapore in particular is not keen on its citizens taking part in the casinos, but welcomes the activity for tourists as a way to bring money into the city state budget. The Casino Regulatory Authority in charge of making the decision believes that the facility might be the first in a number of similar ventures designed to help the booming Singapore economy have a fallback in the event that anything goes awry in the hi tech sector, a part of the economy that Singapore relies heavily on.

Former Auto Plant Purchased by Penn Gaming to Use as Casino

February 16th, 2010 | Comments Off | Posted in News

Moving quickly with new Pennsylvania legislation that has opened the doors wide open for local casino development in order to fight the recession and get the state budget back on track, Penn National Gaming Inc. has recently announced that it purchased what was once an automotive manufacturing plant in Columbus, Ohio so that it can build a casino at the site. While the cost of the purchase is not known, with over 123 acres that once belonged to a pairing of automobile industry giants Delphi Automotive and General Motors as a manufacturing plant, the site is expected to have cost somewhere in the multiple millions of dollars at the very least. Industry experts speculate that the site was chosen due to its existing facilities which may be able to be modified to out fit some portions of the planned casino and the fact that much of the facility is already paved to add value by reducing the amount of pavement that would be needed to create substantial parking spaces for casino guests.

This is not the first time that Penn National Gaming has invested in Columbus, having purchased twenty four acres in the Arena District of the city earlier in 2009. Ohio approved the casino due to the revenue it will bring in to ease state budget woes and the new facility alone is planned with a budget of $400 million, to be voted on in May. The facility intended for Columbus will be known as the Hollywood Casino Columbus and will need a state amendment in order for it to be built over the auto plant, something company lawyers are lobbying for with extreme dedication.