Saturday, 26 June 2010

MBS to draw 150k daily & the Borned Losers

It was reported that MBS is targetting to draw 125,000 to 150,000 daily visitors to its new casino complex in Singapore.

This would suggest that the the casino operator will be collecting about S$2.5 million ~ S$3.0 million in daily entrance levies for the Government if it succeeds, assuming that only 20% of the daily visitors are citizens or permanent residents.

At present, the MBS is attracting about 75,000 visitors, hence the operator is collecting about S$1.5 million each day for the Govt. assuming 20% of the daily visitors are citizens or permanent residents.

The ongoing Court case between MBS and IPBA is a MOCKERY ... one side demanding $300K outstanding payment for the conference event and the other seeking unspecified damages (probably to be decided by a High Court judge) for aggravation during stay and hosting of conference, if it is to be fought out in Court.

Compare it to what would be the takings each day. It is a big wayang.

At present, say 20% of the 75,000 daily visitors estimated by MBS are citizens and PRs, it means 15,000 x S$100 each or $1.5 million will go into the Govt's pocket each day ... leaving aside MBS's taking.

That's how they "would rather make LOVE, not WAR".

That's why MBS would want to open early anyway and perhaps even turned the IPBA issue into a free publicity ...and made all the well known international Lawyers & Judges looked like stooges now, including the Chair. Are these the Borned Losers?

I am sure the real Borned Losers must be the construction workers who were had to rush and complete the project for the opening. See my earlier post "A Conference Too Soon".

Abtracted From
Jun 23, 2010

MBS to draw 150k daily

SINGAPORE - LAS Vegas Sands , the world's most valuable casino firm, expects between 125,000 to 150,000 daily visitors to its new casino complex in Singapore, CEO Sheldon Adelson said on Wednesday.

Other company officials said the casino itself had received 500,000 visitors this month, after a soft opening on April 27.

Mr Adelson was speaking at a news conference ahead of the formal opening of Singapore's Marina Bay Sands, which has been built at a cost of US$5.5 billion, (S$7.6 million) making it the world's second most expensive gambling complex after MGM Mirage's CityCenter in Las Vegas....

Abtracted From

SINGAPORE - We'd rather make love not war, said the man whose company fired the first salvo against the Inter-Pacific Bar Association (IPBA).

Marina Bay Sands (MBS) had sued IPBA over non-payment of $300,000 for using its convention facilities.

But Mr Sheldon Adelson, chairman of Las Vegas Sands, MBS' parent company, said yesterday he was ready to settle any time. Speaking at his US$5.7-billion ($7.9-billion) integrated resort's grand opening, Mr Adelson said: "Our policy is to make love, and not war.

"We want to resolve the matter amicably if we can. The whole thing will go away if everybody cools off and we'll work out a settlement that both parties can work with."

IPBA launched a countersuit against MBS, claiming unspecified damages for alleged misrepresentation of a "complete disaster" as a world-class venue. It claimed its delegates experienced jammed lifts, power failures, lost luggage, and malfunctioning hotel rooms during the four-day conference last month.

Defending MBS, Mr Adelson said IPBA's "expectations were somewhat high ... we gave virtually everything they wanted".

He told Bloomberg: "People should know that there will be little glitches in an opening of a new property. They couldn't stand even one glitch." ...


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