ChannelNews Asia, 21 May 04

Las Vegas casino giant ready to bet two billion dollars on Singapore
AFP

SINGAPORE : US-based gaming giant Las Vegas Sands is ready to bet two billion dollars on a super casino in Singapore if the city-state legalises the industry, a media report said.

"Given the wealth of Singaporeans, the diversified business base here and the value of the country's tourism assets, Singapore would be a natural place for a casino," the Straits Times quoted the company's president and chief operating officer, William Weidner, as saying.

Las Vegas Sands, which is injecting the same amount of money into a second venture in Macau, is willing to develop a casino in Singapore by itself, take an equity stake or pair up with a local company, the newspaper reported.

The size of the casino will also depend on the Singapore government. "We'll build whatever the authorities feel they're comfortable with," Weidner said.

His company is the parent of the Venetian Casino Resort in Las Vegas and has just opened a 240 million dollar casino in Macau, the former Portuguese enclave in southern China. It has been in talks with the Singaporean government for the past two months, the newspaper said. Las Vegas Sands' announcement follows similar expressions of interest from international industry players after the Singapore government's said it was considering a proposal to open a casino on Sentosa, a resort island.

Other casino companies that have expressed an interest are US-based MGM-Mirage and Malaysia's Genting Group.