SINGAPORE: Response from foreign casino operators to take part
in Singapore's proposed integrated resort has been strong.
At the end of Monday's deadline for the submission of concept plans
for the project, at least 10 key players in the gaming industry
have thrown in their hats into the ring.
Channel NewsAsia understands that one company that's interested in
the integrated resort project has spent US$1m alone on its concept
proposal.
The resort is expected to cost some S$1b-S$2b to develop.
But latecomer Eighth Wonder says it is setting aside as much as
S$3b.
The company rushed to beat the noon deadline on Monday, with
founder and chairman Mark Advent turning up at the Singapore
Tourism Board at the last hour to make its submission.
Eighth Wonder - a Las Vegas-based company - is down at the table
with other bigger operators like Harrah's Entertainment, Wynn
Resorts, MGM Mirage.
Eighth Wonder's Mark Advent said: "I think there are a lot of
terrific companies all over the world which are interested in
building something meaningful in Singapore. I think the concepts
that the government will be receiving will all be very good
ones."
US companies aside, Australian big names like TabCorp and PBL are
also in the game.
Malaysia's Genting is also reported to have submitted its
proposal.
So have smaller players like the Hong Kong-based hotel and cruise
ship operator, New Century Group.
It certainly looks like the competition will be intense.
The Singapore government will announce its decision on the resort
after reviewing all the concept bids.
That's expected to take up to six weeks.
If the government finally decides to go ahead with the resort,
there'll be another round of bidding before the licence is awarded.
- CNA