Verbalism Personified

Being socially responsible...

... and economically naive.

"Greed is good."
- Gordon Gecko, 1987.

The Great Singapore Casino debate has taken on a life of its own. In recent months, we've seen and heard the entire spectrum of arguments for and against the idea.

Naturally the government, with the expressed purpose of projecting itself responsibly, is taking a pragmatic stance by seeking proposals from industry players and feedback from the public.

The idea of a casino, first mooted fruitlessly years ago and again recently by the Remaking Singapore Committee, is an effort to seeing if and how Singapore should carve back a slice of that lucrative pie that other countries have been enjoying in the region.

The gambling and gaming industry in Asia is worth an estimated twelve billion dollars annually. This is not pocket change and warrants consideration to not only stem capital flight but to also augment the country's source of revenue. Therefore it is with an urgent sense of pragmatism that the government proceed with this venture. However managing the social impact of having the casino will be extremely challenging.

There have been many suggestions aimed at limiting the exposure among the local population. Moderate measures such as exclusive memberships, entrance fees, betting limits based on income to the extreme end of excluding locals altogether have been suggested. These measures have certainly been implemented in one combinational form or another by many of the world's famous casinos. However it would be naive to assume that it will not be lucrative for a casino operator to set up shop here. You can be sure that the Government will make a quick buck before you even set foot onto the premises.

Naturally some concerned groups are appalled by the idea and have voiced their concern. There are already patitions against the casino based on moral grounds and speculation about closet gamblers crawling out of the woodwork. They cite every doomsday scenario of society in disarray and chaos to broken families and rampant crime. Those subscribing to such views are in need of a reality check. Singapore society, as with any other society, is dynamic and will adapt and absorb the ill effects. In addition, tough laws are already in place to manage any unsavory fallout.

From an economic standpoint, the price of not going ahead with the casino will be higher than having done so. Having a casino will bring in overseas revenue. It will augment the island's tourist industry, create jobs and ensure that a larger percentage of tourist and gambling dollars stay in Singapore.

However managing the social aspect will be trickier. Apart from drug abuse, Singapore does not have a developed resource for assisting and treating people unhinged by gambling. Hardcore gamblers who are already ruining their families can save themselves the trouble by doing it in Singapore. They will realize that they have no one to blame but themselves and that Singapore is very unsympathatic towards persons with addictive compulsions.

For those who want this issue to go away should think very clearly about what it would mean for others. Because most of the time, what we want isn't necessarily good for everyone else.

posted by Teutoburg @ 6:32 AM