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Caesars Official: Singapore's Restrictions to Deter Companies

27 September 2004

SINGAPORE – As reported by the Singapore Business Times: "One of the world's biggest casino operators has made it clear that a Singapore casino which comes with entry curbs will be a no-go for it.

"Mike Stirling, senior vice-president for international operations at Caesars Entertainment, which controls Caesar's Palace in Las Vegas and 28 other properties around the world, said any entry restrictions the Singapore government may impose will most likely deter large-scale gaming companies from investing here.

"…His view is shared by many analysts, including Jonathan Galaviz, an independent gaming analyst with Las Vegas' Galaviz Investment Management and a former senior manager at Mandalay Resort Group, another global casino giant.

"'Casino gaming operators would still make an investment, but it would not be at the significant levels that would meet the strategic objective set up by (the government), which is to grow the mass tourist market,' Mr Galaviz said in reference to entry restrictions. 'In a worst-case scenario, this would be a recipe for financial disaster.'…"

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