14 global firms vie for Singapore casino projects

Posted On Tuesday, 03 May 2005 02:00 Published by
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Singapore says it has invited 14 firms to the second round of bidding to build and run resort casinos in the city-state
SINGAPORE - Singapore says it has invited 14 firms, including gaming giants from the US, SA, Australia, Malaysia and the Bahamas to the second round of bidding to build and run resort casinos in the city-state.

The Singapore Tourism Board said it had rejected the submissions from New Century Group Hong Kong and Greek Mythology Entertainment Group because they did not comply with government requirements.

"As such, they have not been invited to participate in the Request for Proposal Exercise," the tourism board said in a statement.

Among those in the shortlist are US casino operators Wynn Resorts, Harrah's Entertainment, MGM Mirage and Las Vegas Sands Corp.

Harrah's Entertainment has partnered with Singapore property developer Keppel Land and MGM Mirage has teamed up with CapitaLand.

Outside of the US, Bahamas-based Kerzner International and Peermont Global of SA are also on the shorlist.

Peermont, which has gaming, hotel, convention and leisure interests, said in a statement it plans to have the proposed Singapore project as its flagship resort not only in Asia but worldwide.

Australia's Tabcorp Holdings is also in contention.

Malaysia's Genting Group also had its two separate bids put on the shortlist.

In the first bid, Genting has allied with US theme park giant Universal. Its subsidiary Genting International formed a partnership with Star Cruises for the second bid.

The other companies on the shortlist are Eight Wonder Asia, Argosy Gaming, GuocoLand, HPL Properties and Metro Holdings, Publishing and Broadcasting with Melco International and Sun International.

After months of debate, Singapore last week announced plans to build two massive casino resorts to spice up its staid image and attract more tourists despite strong domestic opposition to casino gambling operations.

Total investment for the projects - one on the downtown Marina Bayfront and the other on Sentosa island - could reach up to $3 billion the government said.

The government said the request for proposals will close in the third quarter and the licenses will be issued by the end of the year. The casino resorts should be operational around 2009.

The integrated resort projects will offer convention facilities, hotels, theaters, museums and theme parks apart from casino gambling.

AFP
 
Publisher: AFP
Source: Inet Bridge

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