Singapore to name winner of casino bid this week - Tuesday 12th of December 2006

Singapore is expected to announce the winning bid for its second casino resort this week in a deal worth as much as US$3.5bil.

The city-state is building two gaming resorts with family attractions in a bid to lure more tourists and develop the services sector.

The two casino projects have attracted bids from several of the big gaming groups.

In May, US gaming giant Las Vegas Sands won the licence to build Singapore’s first casino project – a downtown waterfront resort that is expected to cost more than US$3.2bil.

Three consortiums have submitted bids for the second casino, which will be built on Singapore’s resort island of Sentosa. The bids are worth up to US$3.5bil, including a S$605mil price tag for the 49ha site. The resort is expected to operate from 2010.

A panel of seven ministers will pick the winning bid, looking for a project that will best generate repeat visitors from abroad. They will also take into account the architectural quality and the investment amount of each bid.

Analysts reckon Genting group is slight favourite because of its exclusive tie-up with theme parks developer Universal Studios.

Other news from around the same time

In the 17th century, ancestors of the Pequot Tribal Nation lost their position as the dominant culture along New Englands Atlantic Coast. - Tuesday 12th of December 2006

Station Casinos Inc. said on Monday it received a management-led buyout offer from a group including....


Tribe sees a big prize in a riverfront casino - Tuesday 12th of December 2006

In the 17th century, ancestors of the Pequot Tribal Nation lost their position as the dominant cultu....


Aristocrat hopes to cash in - Tuesday 12th of December 2006

ARISTOCRAT Leisure Ltd hopes to share in the spoils of Publishing and Broadcasting Ltds move into As....


One step closer to casinos in Cyprus - Tuesday 12th of December 2006

THE first concrete steps towards the establishment of a casino on the island have taken place follow....


Del. slot casinos start to feel the squeeze - Tuesday 12th of December 2006

For more than a decade, Delawares three slot machine casinos have essentially had a license to print....


William Hill ready to gamble on Rank buyout - Monday 11th of December 2006

Bookmaker William Hill is considering a takeover bid for Rank, the leisure group that is in the thro....


Company loses access to online betting server - Monday 11th of December 2006

The Kahnawake Mohawk reserve’s gaming commission has suspended a LaSalle company’s access to an ....


Bookmakers are planning to trial roulette-based gaming machines in their shops, despite opposition from Tánaiste and Minister for Justice Michael McDowell. - Monday 11th of December 2006

Brownstein Hyatt & Farber is placing a big bet in Las Vegas. The politically connected Denver law fi....


Bookmakers plan to shop test roulette-type gaming machines - Monday 11th of December 2006

Bookmakers are planning to trial roulette-based gaming machines in their shops, despite opposition f....


Harrahs to pay $30 mln over tribe casino project - Monday 11th of December 2006

A San Diego jury has ordered Harrahs Entertainment Inc. to pay $30 million in damages to the Pauma....