Casino operators are lining up to invest ahead of a decision expected around January. Critics, including Christian and Muslim leaders, say the proposal for a resort-style casino would fuel crime and inflict social ills on one of Asia's safest societies.

But Lee said late on Sunday that any casino would be off-limits to Singaporeans of lower income classes.

"We are going to propose the following restrictions: Singaporeans below a certain income, you don't go," Lee said in his first major policy speech since being sworn in as the new Prime Minister on Aug 12.

"We will not make it easy for people to go broke and ruin their families in Singapore. But if a millionaire wants to bring another millionaire friend from China or India, I don't think I should say no to him," he said.

The government is collecting public feedback on whether to build a casino to tap the growing affluence of Asian travellers and plug revenues lost to illegal gambling dens and to countries where casinos are legal, such as Cambodia and the Philippines.

Singaporeans already spend about US$180mil a year in neighbouring Malaysia's casinos, which bar Muslims. About US$140mil of Singaporean money is spent on Indonesia's Batam island casinos and about US$400mil is spent on casino cruises.

The Innovation Group, a US consultancy which compiled the data, said "floating casinos" and illegal gambling in Asia were worth about US$4.2bil alone. Some estimates put the value of Asia's legal gambling industry at about US$14bil.

Advocates say casinos would also accelerate efforts to remould Singapore's US$93bil economy into a services hub as China's rapid economic growth erodes the city's traditional manufacturing base and fast-growing cities such as Bangkok vie for tourist dollars.

Las Vegas Sands Inc, which opened a lavish Vegas-style new casino in Macau in May, has said it would pump in as much as US$2bil to operate a Singapore casino.

"I think we will find a reasonable restriction, draw a line, call for the proposals, test the market. Let's see what proposals come in. If it makes sense and people think that it is worth doing commercially, we make a judgement and proceed," Lee said.

"If it's not worth it, not worth the downside risk, then we will call it off. We will consider all views," he said.

Hong Kong billionaire Stanley Ho's gambling empire has also shown interest in a Singapore casino project, along with Harrah's Entertainment Inc, the No. 2 US casino company, and Vienna-based Casinos Austria International Ltd.


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