Monday, April 18, 2005

:: the HOT acroynm now::

the verdict is OUT!

and the latest and hip letters now are..... IRs (pronounced aiye-are-ss)

no, not infra-red but INTEGRATED RESORT.

PM and the Ministers were all using that 'nickname' in the we-already-will-know-the-outcome of the casino decision today, at the parliament.

and also today, my supposed posting to Bangkok is cancelled, i guess the customer rather will invest in the casino project since it will make more money than having me there.

i will look for other options, pronto!

if you are interested, the official definition of IRs, as quoted by our PM is as follows :

Not a Casino, but an IR

20. This leads to my third point, which is that we are not considering a casino, but an IR – an integrated resort.

21. Some of media coverage of this debate has focussed on whether or not the government will approve “casinos”. This has given the wrong impression that the IR project is only about building casinos here. We think of a gaming room with slot machines and game tables, perhaps with a hotel and some basic facilities. We think of Macao as it used to be, with a sleazy reputation and triad gangs ruling the streets, or Las Vegas in the movies, with organised crime and money laundering. But that is not what we are looking for. IRs are quite different. In fact, they should be called leisure, entertainment and business zones.

22. The IRs will have all kinds of amenities – hotels, restaurants, shopping, convention space, even theatres, museums and theme parks. They attract hundreds of thousands of visitors per year. The great majority will not be there to gamble. They may be tourists, executives or businessmen, who go to enjoy the resort, or attend conventions or conferences. But within this large development and slew of activities, there is one small but essential part which offers gaming and which helps make the entire project financially viable. As a result, there is no need for government grants or subsidies for the IR. The investors will put in the money, and take the commercial risk.

23. Genting gives us some idea what the IR may look like. Genting started off as a casino with an attached hotel, but now it has many other amenities: good hotels, numerous food outlets, theatres, a huge amusement park, etc. Many Singaporeans go there for short holidays with the whole family, and not to gamble. The IRs we have in mind are much more than Genting.

24. On a smaller scale, we can think of NTUC Downtown East or the SAFRA Clubhouses. These are wholesome family destinations. People go there to swim, eat, golf and enjoy the facilities. But somewhere within the premises there is a small jackpot room that generates the revenue that helps to keep the place going. NTUC Club generates millions of dollars a year from the jackpot machines, which helps to pay to build the rides and other facilities in the Clubhouses. Without this revenue, NTUC Club would close shop.

:: welcome to the hotel of california, such a lovely place, such a homely place...::

Photo credit : Uncleboatshoes'


lancerlord said...

It's not meant for Instigated Resort huh.

SooHK said...

Bkk Trip canceled, aiyah waste....

aGent X said...

soohk --> yeah, u may say that again :)