Singapore Likely to Announce Marina Bay Casino Operator in Late May
24 April 2006
According to Singapore's Trade and Industry Minister, Lim Hng Kiang, the winning bid for the city-state's first casino facility, slated for construction at the Marina Bay site, could be announced in May. Lim was reported as saying that the Cabinet would decide on the matter and publicize its decision regarding the future casino's operator in late May or early June.
On a prior occasion, the Singapore Tourism Board said that the casino resort decision would be announced by mid-2006. The resort is designed to spread on a 20.6 hectare waterfront site and is likely to be the world's most most expensive gaming venue. Last year, Singapore's authorities fixed the price of the Marina Bay site at S$1.2 billion (~$756,374,000), and said that the winning bid would be chosen mainly based on its expected contribution to the local tourism industry.
The list of competitors for the first Singapore casino includes major gaming entertainment powerhouses, such as MGM Mirage, Harrah's Entertainment Inc., and Las Vegas Sands Corp. Last year, the Singapore government canceled its 40-year-long ban on casino gambling and opened the bidding process for two future casino resorts, one at the aforementioned Marina Bay site and the other on Sentosa island.
Source: Authorized Online Casinos News Staff
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