LV Sands Won't Seek Singapore Project Partner

SINGAPORE – As reported by Reuters: "Las Vegas Sands Corp., the world's biggest casino firm by market value which is bidding to build Singapore's first casino, on Friday said it would not look for a local equity investor after its partner pulled out of the race this week.

"Sands, famous for its luxury Venetian resort in Las Vegas, said its Singapore proposal remained strong despite the surprise withdrawal by City Developments, 11 weeks before the March 31 tender deadline.

"…Sands is one of four consortia bidding to build a casino complex at an estimated cost of US$3 billion in Singapore's downtown Marina Bay with a 30-year concession.

"…Some analysts have said that having a local partner may improve the chance of clinching the project, even though the government said it is not necessary to have a Singapore partner…"

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