Singapore Awaits Two Casino Projects
7 November 2005
Casino operators have been invited by Singapore to provide proposals for the city-state's first casino resorts at a land price of $1.2 billion. Two casino resorts are expected to be built in Singapore, at an estimated cost of $5 billion. The main aim of the casino project is to attract tourists who will help strengthen the economy.
The winning bidder, which should be announced by the middle of 2006, will gain rights to operate the casino over a thirty year period. The majority shareholder of the casino needs to stay in Singapore for ten years, a condition set by the government. Requests for casino bids have been delayed since September due the fact that the government needed time to to deal with the concerns of the 12 competing groups.
The Singapore government would like to create some excitement in the city-state, which is currently known to be quite rigid with citizenry who do everything by the book. The casino project plans to attract more tourists from China and also appeal to ethnic Chinese residents in Indonesia and Malaysia.
Source: Authorized Online Casinos News Staff
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