The news about Johor going to build casino has spread widely recently. Based on the sources, Malaysia tycoon controlled Berjaya Group will build the casino inside Berjaya Waterfront once obtained the gambling license from government.
Recently Berjaya Group has purchased Johor Bahru Berjaya Waterfront. At this moment Berjaya Waterfront’s retail spaces is undergoing construction and renovation. There are the rumours that it is building casino.
Based on insider source, Berjaya Group plan to have a make over renovation for the Berjaya Waterfront retail spaces and hotel, bring in upmarket branded shops and restaurants, and in future followed by entertainment resort comprising of gambling casino.
Where is Berjaya Waterfront hotel and retail mall? Well, Berjaya Waterfront is the previously well known The Zone hotel and Free Tax Zone retail mall. Berjaya Waterfront is built alongside seaside of Stulang Laut, and the opposite of the sea is Singapore country. Because it is free tax zone, it draw quite a lot of local and Singaporean to there for alcohol and cigarette and food.
Local Chinese leader and merchant association believe the opening of casino can bring benefit to Johor state government and local people, stimulate the economy and job creation, but cautious that government must set entry measures to Malaysian to avoid the negative effects arising from casino.
Malaysia small and medium enterprise association leader said that the opening of casino in Johor Bahru can bring domino effects to surrounding property values to new height and create more jobs resulting in huge economic benefits in Iskandar Malaysia developments. However, government must aware of potential social problems arising from the gambling and take preventive measures.
Malaysia financial magazine “The Edge” quoted sources previously said Johor Sultan Ibrahim bought 20% market share of subsidy company of Berjaya Group, Berjaya Asset (BJASSET). Following with the purchase, news widespread about the intention of Vincent Tan, the owner of Berjaya Group is planning to develop large scale entertainment resort in Johor Bahru, comprising of gambling slot machines, upmarket restaurants and branded retail mall to compete for market share from Singapore both Integrated Resort Marina Bay Sands and Resort World Sentosa.
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