Originally posted by angelfia:
Many who are exhorting the merits of accepting 2 or all of the bids are completely missing the point. The truth is Singapore has to accept that there will only be one integrated resort at Sentosa; for it to be worth the while for all three bidders to have made such exceptional bids and taken the efforts to go through probity checks. We cannot have the cake and eat it. Period.
Thus there are compelling reasons why Genting will be most favoured bid:
1.)We have only one chance at an iconic tourist attraction that will anchor our tourism strategy at Sentosa for the next ten years. It is make or break and we cannot afford to have a failed bid at attracting the masses that we expect will come from China , India and the region; either because 8w consortium of non-equity partners break up in discord or Kerzner-Capital’s futurist theme fail to take off. There are dozen of attempts around the world and locally at thinking “out of the box” like the London eye, futuristic rides and bungee at Clark Quay or beautiful architecture and gardens in Chinese Garden, Haw Par including attempts in the past on having a volcanoland( think 8w) or Aiichi Expo’s use of advanced robots ( think K-C). How many of us mention these attraction in the same breath as the country of origin? But to this day, we remember the number of Disneyland or Universal Studios there are in the world because these are time-tested formula as with an Oceanarium. If we have to choose an aquarium between Genting and K-C or theme parks between Genting and 8W , while not just take the safest bet in Genting and get both plus tread the middle line?
2.) Our second resort should complement Marina Sands and Sentosa Isle , not compete against it in terms of cliente. It should serve a completely different tier of customers to reap the maximum benefit for Singapore. Otherwise we will need more than a dozen integrated resorts to achieve the full spectrum of target audience we hope to attract. We don’t need a glittering Atlantis to attract the noveau rich ( Sands does that) , live shows ( we have spore indoor stadium, explanade, marina sands), soccer stadium/school (we have Kallang Sport hub, Singapore sports school ). On the other hand, Genting gentle stone architecture blends well with sentosa – the tropical island outlook that we remember since our childhood. Do we really need a monstrosity to destroy our skyline and waterfront or a huge volcano ( not to mention the huge damage to the contours/landscape of Sentosa and ecosystem) ? Genting’s complement of Oceanarium complements with the underwater world and dolphin park already in existence; so form a critical mass of water parks/rides/aquarium thereby achieving a “hub” effect. Similarly, its offering of Universal (tog with the two IR s ) may actually attract a Disneyland at Marina possibly forming another “theme park hub” Imagine two world class theme parks in the convenient proximity of Singapore – one outdoor , one conceivably indoor like Lotte World in S Korea (i.e. Disneyland to utilize small space) in Singapore? Imagine the draw on the regional tourism market!
3.) Furthermore, why do we need a cooking school or a soccer stadium or a wedding boutique hotel? ArenÂ’t our target population the family? How do we expect chef wannabes or wedding couples to bring in the masses of families from China or India? Remember, how many average Joes in Singapore can afford to dine Ducasse, live in Starwood hotel, wear Vera Wang and buy a Rolls Royce from the toy box? Not to forget that the cost to our neighbours is 2X ( for Malaysia) , 5 X ( for China)? The Vera Wang Collection may sound a big deal in bringing the occasional banquet, but do we seriously think Chinese or Indians will fly their extended family to Singapore for a wedding? How many 6 star and 5 star options do we already have? We cannot hv another white elephant.
Thus Genting offers the perfect track record and compelling case for family visitors with their theme park and oceanarium offerings – stuff that has stood the test of time. How many Singaporean families go to genting for gaming? How many more children go to genting solely for their arcade, theme parks, pony rides and live shows? Plus packaging Star Cruise for Spa in Bintan, stopping over at the Universal Studio and Marina Sands at Southern Singapore coupled with trips to Malacca and highland offerings in Genting Berhad- all these make for a compelling proposition to world travelers.
Genting will certainly shift its HQ to Singapore exploiting its tourist networks and bringing in further tourist attractions.
Indeed, Steve Wynn says a family theme IR will not work, only scantily clad dancers and gaming will. He is missing the point. A casino is merely the price we are prepared to pay to draw in the massive investments that will lift Singapore out from the boring category to a modern and must-visit cosmopolitan city.
4.) Genting learnt its lesson well and read the RFP to the letter. They target the same cliente the govt is aiming for ( families and repeat visitors from China, India and SEA) not the well- heeled ( like K-C or 8W) and have the track record in drawing in Asian visitors from China, Singapore and Malaysia. We are not aiming at competing with Vegas or the Bahamas for American or European tourists. We should keep a sharp focus. They intend to build an icon that we have thus far not had the funds or opportunity to support in Singapore that people will talk about (i.e. Universal Studios). They blend their architecture with Sentosa’s tropical image and given Michael Grave’s experience, there is bound to be good traffic flow and integration of facilities for the optimal travel experience. Do we really need a “second link” (8w) and expect our current roads to be congested? I feel Grave’s “boring” architecture is highly misunderstood and underrated.
5.) Do we need a soccer stadium? Who is going to play in it ? S League ? Malaysian Cup? EPL? It seems that 8W patchwork of last minute strategies is an attempt to brandish itself as a dark horse. The same with its free access and highest development investment. Does it mean more of its revenue will come from gaming? What if the consortium falls apart? Or non-equity members pull out? Does it mean part of the 5.6 billion of physical architecture lay in waste? Genting on the hand are like brothers and sisters with star cruise and have a financially prudent plan, they charge reasonably and folks from China , India and South East Asia can stay in affordable hotels (think first world), dine reasonably and participate in affordable all around experience. Plus I feel strongly for its 200 million yearly investment to update its attraction , bringing in new shows , features and dining. This Genting has done right in upgrading, refurbishing , expanding and updating its Genting Highland resorts as age will wear out any 5 billion dollar resort without proper maintenance and bringing in of new shows.
Like Moscow Circus, PhuketÂ’s Fantasea or Crazy Horse Paris. Do we need the same live show (8W) all year round or can we have a combination of Jacky Cheung, Bollywood stars or Josh Groban. If we can have them all, and updated yearly , why not?
So in this context , GentingÂ’s bid should be seen as 6.2 billion not 5.2 billion SGD. They have declared this is make or break for them and will ensure success.
They have placed huge bets on us, shown admirable commitment in going through two races, given their all in this bid and have a robust financial plan to turn in a profit. This makes for a sustainable development that must not fail and will determine the face of Sentosa for the next decade or so.
so is yes or no?