City Developments Ltd. Withdraws from Singapore Casino Bid

U.S. casino company Las Vegas Sands has announced that its local partner on the Singapore casino project, City Developments Ltd. (CDL), has dropped out of the bid. CDL, one of Singapore's biggest hotel and property groups, will no longer be an equity partner for the casino bid, but will remain in an advisory role for the Sands' bid.

According to reports, the company dropped out as a result of certain demands outlined for the bid. CDL will provide Sands with counsel on non-gambling aspects of the project, focusing more on development, design, and providing information about the local market.

Four companies remain in the running to build the first casino in Singapore. These include Genting International, Harrah's Entertainment, MGM Mirage and, of course, Las Vegas Sands.

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