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Today,
2 Sep 04
Property giants seek a piece of casino action
LOCAL property developers look set to muscle in on a Singapore casino
by joining forces with foreign gaming operators, industry sources
have told The Business Times. The paper understands that at least
two big developers — CapitaLand and the Hong Leong Group — have had
talks with overseas players to explore possible tie-ups should the
Government agree to a casino here.
"City Developments (the Hong Leong Group's property arm) is interested
in all projects but our interest in any potential casino development
will depend on the Government's final decision," a Hong Leong Group
spokesman told the paper. And in a report released yesterday, UBS
Investment Research said CapitaLand is likely to be "at the forefront
to directly benefit and participate" in developing a casino because
of its good relationship with the Government and track record in retail
management and project development.
In recent months, several big gaming players — including Hong Kong
tycoon Stanley Ho's Sociedade de Jogos de Macau, US-based Harrah's
Entertainment and Vienna-based Casinos Austria International — have
expressed interest in Singapore. |
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