Singapore has opened its first ever casino on the auspicious eve of the Chinese lunar year in a bid to diversify its economy. Lim Kok Thay, Chairman of Resorts World Sentosa and its developer, Malaysia's Genting Group said, "We are confident to meet our goal of 13 million visitors (per year)."

The move would turn the city-state into a playground for the rich Asian gamblers that would in turn push its economic growth. Initially selected guests would be allowed in the casino which is a part of S$6.59 billion resort located on Sentosa Island in the southern coast of Singapore.

Casino’s competitor Marina Bay Sands is yet to roll out its operations. It is a convention complex offering 2,500 hotel rooms, a casino and luxury shopping mall which is unlikely to go operational before mid-April.

The casino on Sentosa Island off Singapore's southern coast would start to entertain public guests in early March, according to a stamen issued by the authorities.

Resorts World Sentosa and Marina Bay Sands are sanctioned approvals after the Singapore government lifted a 40-year-old ban on gambling in a bid to add to its revenue luring gamblers away from traditional destinations of Macau, Malaysia or Australia.