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Up Close with Resorts World Singapore (Casino)

I was at the Resorts World Singapore Integrated Resort recently and stepped into the casino for the very first time. The occasion was my mother’s birthday and she was staying at Hard Rock Hotel for her birthday vacation with my father. My parents are social casino patrons who do visit Genting and those Casino Cruises on occasion given their status as retirees who have provided for their medical and living needs.

It was truly interesting to see that even on a weekday afternoon, there were enough patrons to keep many of the tables at RWS humming along. Pai Gow, Pontoon, Blackjack, Caribbean Stud Poker, Roulette and countless number of Jackpot machines lined rows by rows with neatly attired croupiers and supervisors greeted the visitor who came in there.

Why am I talking about the casino at Resorts World Singapore?

Epitome of Singapore Inc.

The integrated resorts (aka. casinos) encapsulate what is the essence of Singapore. MONEY. The casino is a place where despite the $100 levy, Singaporeans and PRs queue up to throw money at the gaming facilities. It is a place where fortunes can be made or lost in a few short seconds, minutes or hours. It symbolises really that with MONEY, anything is almost possible.

In our quest for financial freedom, we tend to be focussed on MONEY. To have enough of investible savings that yields an income sufficient for our living expenses. To live within our means to generate savings. To use that savings to grow our investments. To grow our investments so that they yield returns even when we are sleeping. Financial freedom is why you read my blog and many others to learn more about the principles.

I walked by tables when the roulette wheel stopped spinning and stopped on the winning coloured number, majority of the punters had their chips systematically “washed” away by the croupier into the hole in the table. Before I understood the concept of financial freedom and embarked on this journey towards attaining financial freedom. My investments were closer to gambling bets in a casino than well thought-out moves to maximise returns at acceptable risks.

Thin Line Between Investing and Gambling

The fine line between gambling and investment is thin. What separates one from taking a gambling mentality versus an investing mentality is effort and understanding ourselves and what to invest in. Investing requires patience, hardwork to read about the companies we want to invest in for equities and about the risk-returns of other financial instruments. Gambling on the other hand, like putting money on a roulette table, requires one to only have  a very basic understanding of the rules of the game and then to put a wager on it. Gamblers put their entire capital at risk for quick returns. In the long-run the house always wins because of its larger capital and that the odds between payouts and outcomes of the casino games are weighed to benefit the house.

I realise that I used to have a gambling mentality in my quick punts on the stock market. I have since moved away from this approach and realise if I want to really gamble, the Marina Bay Sands resort and Resorts World Singapore are available for an entrance fee of $100. Better for me to take $300-500 as “play” money and have an entertaining time at the casino than see a couple of lots stuck in a blue-chip bought at inflated prices to make a return when I’m just gambling using a different vehicle and risking more of my capital.

Thus, I’m quite comfortable with my current investible savings allocation at 33% equities and remainder in cash and cash equivalents. Because I know I won’t be able to “get rich” overnight and be financially free simply by using the equity market alone. I need to continue to build up useful skills to help me generate more cash flows and to be prudent in my lifestyle. That has made me less of  a market watcher whose moods are affected by the swings of the Dow or STI.

Life is a Big Roulette Wheel Spin

Life is very unpredictable. We cannot control exactly what happens to us in life but we can control how we feel and react to it. I realise that even as the sands of time run out slowly like an hourglass, I need to conserve my life energy and channel it into meaningful pursuits. My career, family and personal growth are three key areas for me to focus. I know that many things inside my career, family and personal growth are affected by external factors; but I also know that I can concentrate my focus on things that matter to me in these three areas and work hard at them.

That is how I overcome the unpredictability of the world, to concentrate on what I can control and work on them.

In my quest for financial freedom, I can control my expenditure (to some extent) and to be open to new paradigms of either living a fulfilled life that is less dependent on material well being to growing my means to allow me to trade money for more of life’s experiences.

How do you cope with the unpredictability of life when it comes to affecting your plans towards financial freedom.

What are your thoughts if you have visited any of the Casinos in Singapore?

Share with Panzer in the comments section.

Be well and prosper.