Hang Lung Properties’ Chan Says Singapore’s Casinos Will ‘Flop’

Hang Lung Properties’ Chan Says Singapore’s Casinos Will ‘Flop’

By Chia-Peck Wong and Bernard Lo Sept. 10 (Bloomberg) -- Ronnie Chan, chairman of Hang Lung Properties Ltd., Hong Kong’s fifth-biggest developer by marketvalue, said the two casino-resorts in Singapore will failbecause they won’t be able to attract high-rollers. Las Vegas Sands Corp., the casino company controlled bybillionaire Sheldon Adelson, and Genting Singapore Plc, a unitof Asia’s biggest listed gambling operator, are building Singapore’s first two casinos. Chan commented after attending the Bloomberg LeadershipForum in Hong Kong. “The big rollers are what make money in casinos, they willnever come to Singapore, it’s a family entertainment” location. “You think big-rollers will go to Singapore where theyhave teeth and fangs coming out sideways? There are too many rules. I was in Sentosa island, I really think that it’s going to be a flop. “The whole integrated entertainment industry, I’m worried for them. The good thing about Singapore is that if you flop,you’re given a second chance.”

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