Las Vegas companies make shortlist for Singapore casino

Yoolim Lee and Linus Chua

Monday, April 25, 2005 | 10:39 a.m.

Fourteen casino operators have been invited by the Singapore government to make final bids for the city-state's casino-resort projects, the tourism board said.

They include Las Vegas-based bidders MGM Mirage, Harrah's Entertainment Inc., Las Vegas Sands Corp, Wynn Resorts Ltd. and Eighth Wonder, a private company led by Las Vegas designer Mark Advent and partnering with Starwood Hotels and Resorts Worldwide Inc.

The government, which lifted its casino ban a week ago, received 19 proposals from 16 companies, the Singapore Tourism Board said in an e-mail statement today. Bids from New Century Group Hong Kong Ltd. and Macau's Greek Mythology Entertainment Group were rejected, it said.

The Singapore government is counting on the casino resorts to help boost visitors after its share of Asia-Pacific's tourism revenue dropped by half in the past decade. The two casino resorts would draw S$5 billion ($3 billion) of investments and create about 35,000 jobs on the resort island of Sentosa and in the city's downtown Marina Bayfront, the government said.

"It's a good mix and a broad reflection of the casino and related industry," said Jonathan Galaviz, a partner at Galaviz Ong & Co. in Las Vegas, which tracks the gaming industry. "The companies that are participating in this process are a showcase of the fact that the Singapore government has played its cards right in attracting the best names in the global gaming industry." His company is advising Harrah's on its bid.

The bids are due in the third quarter and the winning bid will be announced by the end of the year, the government said.

"The remaining 14 companies have been invited to participate in the request for proposals, which is expected to be launched by the end of the second quarter of this year," Chang Chee Pey, director of sightseeing and cruises at the Singapore Tourism Board, said in the statement.

Wynn Resorts, the Las Vegas-based casino company led by Steve Wynn, is "committed to continuing our participation in the process initiated by the Singapore government," Ron Kramer, president of Wynn Resorts, said earlier today in an e-mail statement.

Other bidders for the Singapore franchise include Genting Bhd, Asia's biggest publicly trade gaming company, which has teamed up with Universal Studios for a theme park on the Sentosa site. Singapore-based developers also submitted in bids.

CapitaLand Ltd. teamed up with MGM Mirage and Kerzner International Ltd. on separate sites, while Keppel Land Ltd. is bidding on both sites with Harrah's. MGM Mirage and Harrah's are the two biggest U.S. casino operators.

Other local developers include Hotel Properties Ltd., which is bidding with Metro Holdings, and GuocoLand Ltd., controlled by Malaysian tycoon Quek Leng Chan.