28 Jul '11, 9pm

Grace Fu voices concern over effects of casinos

SINGAPORE - A day after Marina Bay Sands (MBS) reported its strongest quarterly performance since its opening last year, Senior Minister of State (Information, Communications and the Arts and Environment and Water Resources) Grace Fu voiced her concern. Writing on her Facebook page yesterday, Ms Fu said: "While I acknowledge the contribution of IRs to our economy, I am concern(ed) about the social effects." Ms Fu also expressed her concern over the rising number of advertisements by moneylenders offering "quick loan/fast cash", in Chinese dailies Shin Min and Wanbao as well as The New Paper. On Wednesday, Mr Sheldon Adelson, chief executive of Las Vegas Sands - MBS' parent company - also declared that MBS is "on its way to becoming the most profitable casino-resort ever". He had added: "Nobody can convince me that we've even touched the area of saturation of the market. I ...

Full article: http://www.todayonline.com/Singapore/EDC110729-0000084/Gr...

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