Calculated gambles may be worth the risk

On Wednesday, four hotels opened on the islet of Sentosa in Singapore. It marked the first step in the rollout of one of two casinos in the city-state, as part of an "integrated resorts" plan that promises top-class attractions of theme parks, shopping malls and restaurants.

The opening of the hotels is bittersweet for me since I was initially against having the casinos in my home country, mostly on moral grounds.

Singapore authorities gave the green light to build casinos five years ago. The integrated resorts are part of plans to boost the city-state's tourism industry and create jobs as the country faces increasing competition from the region and beyond.