SINGAPORE : Singapore's plans to build two integrated resorts
entered the next phase on Friday.
The Singapore Tourism Board has started inviting selected resort
operators to submit firm proposals.
The final shortlist has not been revealed, but those which made it
to the list include South Africa's Peermont Global and Sun
International, Bahamas-based Kerzner, US Harrah's Entertainment and
Malaysia's Genting Berhad.
Australia's PBL - which partnered Macau tycoon Stanley Ho for its
bid - is also in.
Australia's TabCorp would not comment, while Wynn Resorts, MGM, Las
Vegas Sands and Eighth Wonder could not be reached.
It has not even been a week since the government gave the go-ahead
for the integrated resort project in Singapore - but already the
spotlight has been turning to the bidders, and who would be
shortlisted.
One by one, the STB has been in touch with parties which submitted
concept proposals.
For Hong Kong's New Century Group, it was an early end to the
race.
The Hong Kong vessel chartering and property investment firm says
its proposal has not been accepted.
Meanwhile, another small player, Macau's Greek Mythology, would
only say it had yet to receive any answer.
But some of those who have made the cut wasted no time in sharing
the good news.
South Africa's Peermont Global and Sun International, Bahamas-based
Kerzner, US Harrah's Entertainment and Malaysia's Genting Berhad
have all come out to say that they are still very much in the
game.
These are the firms which have promised to bring in the likes of
Universal Studio theme parks - and will invest billions to make the
Singapore resort their flagship in the region.
Analysts say that the race will be intense.
Tony Raza, Head of Research, Merill Lynch, said, "They are all
trying to add something that is very creative, iconic, something
that raises eyebrows and creates a lot of interest in their
project. So on that front, everyone is bidding aggressively on what
they can add in to their proposals, but (the) bottomline line is
they are also very aggressively in funds committed to this
project."
The guidelines for the firm proposals are expected to be issued
before June 30.
The deadline for the final submission has not yet been
announced.
But the successful bids will only be unveiled in December. -
CNA/ms