Packer a longshot for Singapore bid

SINGAPORE – As reported by the Australian: "James Packer's Publishing and Broadcasting Ltd is facing an uphill battle to win the right to Singapore's second casino.

"Yesterday, PBL confirmed it had lodged documents with the US financial regulator for its Asian gaming joint venture Melco PBL to raise $1.4 billion on the Nasdaq market.

"But Merrill Lynch gaming analyst Sean Monaghan expects Malaysian gaming group Genting to win the tender for Singapore's Sentosa Island resort, which is expected to be announced Friday.

"…Mr Monaghan analysed each of the three consortiums - Genting, Eighth Wonder and Kerzner - against that criteria and concluded Genting would win.

"He said Genting's plans scored 88 per cent against the criteria while Kerzner's scored 82 per cent and Eighth Wonder 79 per cent…"

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