singapore casino investments

Bloomberg has reported that Singapore may be uplifting the ban on Casinos, in an effort to uplift revenues from tourism.

In fact, Singapore has already received proposals from 19 companies to build casinos, including Las Vegas-based MGM Mirage and Wynn Resorts Ltd. and Malaysia's Genting Bhd.

The ban may be uplifted due to positive news from Macau, where 17 casinos operate, and that had three times the economic growth and twice as many visitors as Singapore in 2004.

If the ban is lifted, casino investments may be allowed to build casinos downtown or on the southern resort island of Sentosa, or on both locations.

For building a casino into Singapore, other bidders for the investment include: Las Vegas-based Harrah's Entertainment Inc., Melbourne-based Tabcorp Holdings Ltd., Hong Kong-based Melco International Development Ltd.

Also, Malaysia's Genting Bhd. is bidding jointly with its Star Cruises Ltd. unit and the theme-park unit of Universal Studios.


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