SINGAPORE : Singapore is a matured society and is ready to accept the setting up of a casino here, says Senior Minister of State for Trade and Industry Vivian Balakrishnan.
But Dr Vivian warns that except for the casino owner and the government, everyone else will lose money in the long run.
Singapore stands to gain $1.3 billion in duties a year if gaming is legalised.
But the government says the debate should not be on trying to balance money and values. Rather, it should focus on whether Singapore is a matured society.
Dr Vivian said: "Personally, I think Singaporeans are ready and will have to be ready in the future. If not now, then later. But to me, the direction in which our society is progressing is irreversible."
But Dr Vivian warns that gambling is not a means of earning money or making a living. Instead, it should be viewed as a form of entertainment.
The government will begin talks with potential investors over the next few weeks.
It will first view their concept plans before requesting for proposals.
But the government says the proposals must achieve sufficient economic benefits, otherwise it is still quite happy to walk away.
The government has also set aside $2 billion to develop tourism infrastructure and products over the next 10 years. - CNA