As Singapore gears up for building two integrated resorts with casinos, there is talk that Publishing & Broadcasting Limited (PBL) is closer to securing the rights to build a multi-billion-dollar casino in Singapore, but still faces stiff competition from four rivals following the announcement of a shortlist by the Singapore Tourism Board.
According to the Singapore Tourism Authority, the five bidding groups that submitted the forms include Malaysia-based Genting International PLC and Star Cruises, Harrah’s Entertainment Inc. and Keppel Land Ltd., Las Vegas Sands Corp., MGM Mirage and Southeast Asia’s largest property developer Capitaland Ltd., Macau casino baron Stanley Ho’s Melco International Ltd. and Australian tycoon Kerry Packer's Publishing & Broadcasting Ltd.
According to a published report, the PBL-Melco consortium still faces some formidable opponents for the casino-resort project in Singapore's Marina Bay including three big US casino operators. Singapore's press on Saturday listed the three US operators -- MGM, Sands and Harrah's -- as the “hot favorites.”
Wynn Resorts Ltd., controlled by Las Vegas casino operator Steve Wynn, appears to have become the third bidder this week to withdraw from the tender process for Singapore’s first casino after it didn't submit to a mandatory background check, according to media. Bidders for the Marina Bay casino and resort were asked by the city-state’s government to submit corporate and personal history forms by Friday so that probity checks could be completed.
Australian casino operator Tabcorp Holdings Ltd. and Guocoland Ltd., a Singapore property developer, earlier this week withdrew their Marina Bay bids.
According to Channel News Asia, William Weidner, chief operating officer, Las Vegas Sands, “The idea of an integrated resort is an integrated resort brings the world and mixes components from the world into Singapore, and accumulates values of those experiences and reaches out to the world and then draws them back to Singapore.”