A new Singapore where people can come and go and gamble anytime they want, just like in Macau; watch Lion King, the musical, any day of the week, just like in Broadway; watch the “Wonder Full” sound and light show on the Bay everyday just like in Las Vegas; and view world-class exhibitions of art and science year-round, just like in Paris or London.

That day, the final piece of the Marina Bay Sands puzzle fell into place – the ArtScience Museum, the “lotus”, opened. Opening it is The Shipwrecked: Tang Treasures and Monsoon Winds exhibition, one of the most important marine archaeological finds of the late 20th century. The exhibition shares the story of an astonishing cargo of some 60,000 objects carried from China by a ninth-century Arab dhow, presenting a dynamic tale of trade between China and West Asia along the maritime silk route.

There is no doubt that the gamble taken by the Singapore government to allow gaming, which made the investments in the two Integrated Resorts possible, has paid off, at least in terms of numbers.

I can imagine all governments will be watching, so don’t be surprised if Taiwan and Japan, both of whom are considering allowing gaming, both relent as well. 

Preliminary estimates from the Ministry of Trade and Industry show that in the first nine months of last year, the IRs contributed S$3.7 billion, or 1.7%, towards Singapore’s nominal GDP. The two IRs were expected to generate $5.4 billion by 2015, so that puts them pretty much on target.

The sum also makes up half the $7.9 billion the tourism industry put into the economy during that period.

Marina Bay Sands made $390 million in pre-tax profit in the fourth quarter last year, the second straight quarter of record profits. It made $315 million in the third quarter. Resorts World at Sentosa has not announced fourth quarter results but it made $346.5 million in the third quarter.

Gaming revenues have been off the charts for the two casinos – no one had expected such a strong penchant for gambling among the local populace despite the $100 entry levy. Greg Unsworth, an analyst at Pricewaterhouse Coopers, said it expected gaming revenue from the two IRs to hit US$2.8 billion for 2010 and $5.5 billion this year.

MBS is turning out to be the company’s best money-spinner with a pre-tax profit of $90 million in the last three months of last year.

No wonder Sheldon Adelson, chairman of Las Vegas Sands, was in happy spirits at the official opening. The untimely death of celebrity chef Santi Santamaria, just the day before, did cast a pall over celebrations but the show did go on, in true Las Vegas style.

Adelson said at the opening said MBS was already running out of meetings, incentives, conventions and exhibitions space and that he has told the government he needs more land. “If they want to give me 10 times more land, I won’t turn it down,” he said. (I wonder what his sales and marketing team at MBS thought about that remark but then Mr Adelson’s not used to thinking about what other people think – he is used to doing it his way.)

COO Michael Leven said that Singapore would need more hotel rooms to accommodate the 17 million annual visitors it aims to attract by 2015. “Demand is going to be higher than supply very shortly as the entire hospitality industry is running at over 80% occupancy,” said Leven, who is eyeing two plots in the Marina Bay area for development. 

Last year, Singapore posted a 20% increase in visitor arrivals to reach 11.7 million, most of it attributed to the two IRs and of course, buoyant economic sentiment in the region.

MBS has had its share of management changes – Tom Arasi, the newest CEO, is leaving after 18 months, he is believed to have stayed through the official opening. They’re looking for a new CEO.

John Mims, former Starwood man based in Singapore, is now senior vice president-global sales and resorts marketing for Sands and he will be based in Singapore and clearly his priority is to strengthen the local sales and marketing team and seek synergies between the various properties. He will have a big job at hand building relationships within the industry but then Mims is known for taking on big jobs with gusto. 

There is no doubt MBS has changed the landscape in Singapore forever for tourists and locals . But did anyone have any doubt that Adelson would do anything less?

Now watch him do it elsewhere in Asia …