Packer loses on casino bid - Wednesday 13th of December 2006
PUBLISHING and Broadcasting Ltd (PBL) has been unsuccessful in obtaining a casino licence from the Singapore government, as part of the Eighth Wonder Asia syndicate.
PBL (Quote,News) and its joint venture partner in Asia, Melco International Development Ltd, had joined the bid for Singapores second casino licence as a minority participant in the consortium headed by the US firm, Eighth Wonder.
The syndicate had placed a bid to operate an integrated resort including a casino on Sentosa Island, Singapore.
PBL executive chairman James Packer described the participation by the Melco/PBL joint venture in the bidding process as a valuable experience.
He said Melco/PBL would continue to seek further opportunities for investment in the rapidly expanding Asian gaming, hospitality and entertainment markets.
Mr Packer said he had been enormously impressed by the Eighth Wonder concept conceived by Mark Advent and by the depth of creative talent, energy and professionalism of the consortium partners.
Mr Packer said in October the company had joined the consortium bidding for the right to develop a $US3.5 billion ($4.71 billion) resort and casino.
The Las Vegas-based Eighth Wonder Consortium was short-listed alongside Kerzner International with partner CapitaLand, and the eventual winner of the bid Genting International Star Cruises.
Genting won approval for the proposed Resorts World at Sentosa, a casino resort which will be home to the regions first Universal Studios theme park.
The park will also include DreamWorks Digital Animation Studios.
Resorts World at Sentosa, is to be launched by early 2010.
It will include the worlds largest oceanarium, Quest Marine Life Park, and a theme parked called Equarius Water Park.
It will also include six hotels with a combined 1830 rooms.
Other news from around the same time
Four held for casino van heist - Wednesday 13th of December 2006
Four men charged in connection with the –1.6 million holdup in September of an armored van at a ca....
Florida tribe’s Hard Rock coup - Wednesday 13th of December 2006
The Seminole Indians have ridden in with $965m to snap up the restaurant chain from Rank, writes Mat....
Russia proposes limiting gambling to four zones - Wednesday 13th of December 2006
Russian lawmakers are hoping to stem the tide of gambling in Moscow and other major cities with a Kr....
Anti-gambling pill fails test - Wednesday 13th of December 2006
A San Diego pharmaceutical firm said clinical trials were a flop for an orally administered drug aim....
Levy hits out at gambling probe - Wednesday 13th of December 2006
Tottenham chairman Daniel Levy has branded the governments plans to investigate the legality of gamb....
Slot machines seized in Paphos raid - Wednesday 13th of December 2006
OVER 20 illegal slot machines were confiscated on Monday night by police in the Paphos district. Acc....
Harrahs spent record $17.8 million on casino question - Tuesday 12th of December 2006
Harrahs Entertainment spent $17.8 million in its unsuccessful bid to bring casino gambling to Rhode ....
Genting wins Singapore casino license - Tuesday 12th of December 2006
Singapore awarded its second casino resort contract Friday to Genting International, whose proposal ....
New gambling rules put shirt deals at risk - Tuesday 12th of December 2006
Premiership clubs could be forced to terminate lucrative sponsorship deals with gaming companies aft....
Hard Rock sold off cheap, say analysts - Tuesday 12th of December 2006
Investors and analysts gave a cool reception to the £490 million sale of the Hard Rock Cafe chain b....