Sands Not in Need of Singapore Company Aid
8 December 2005
Many casino companies, such as Las Vegas Sands and Harrah's Entertainment Inc, are currently bidding to build two casino-resorts in Singapore. Las Vegas Sands Corp, which is the largest casino operator in the world in terms of market capitalization, has announced that it probably will not partner up with a Singapore company for this bid. The company stated that it does not need a local partner or extra funding.
The Singapore government made an announcement last month that companies do not have to take on local partners for the bid. It is highly unlikely that Las Vegas Sands will announce any type of partner before Friday, when bidders are requested to name local partners. The casino company has reportedly held talks with local companies regarding a potential partnership, but has not named any of these companies as possible partners.
Las Vegas Sands, Harrah's and MGM Mirage have been rated as the top three out of nine casino companies that are in the bid to build the Singapore casino-resorts. The two casino-resorts are part of a plan to bring in more tourists to Singapore.
Source: Authorized Online Casinos News Staff
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