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Singapore Casino Battle Still Intense

16 January 2006

SINGAPORE – As reported by the Malaysian Business Times: "Three Las Vegas giants and a Malaysian gaming firm are left in a high-stakes battle to build Singapore's first casino after rivals from Australia, South Africa, the Bahamas and Hong Kong pulled out.

"Although several companies abandoned their bids, industry analysts said competition remains intense because the surviving contenders are among the world's biggest gaming firms.

"Fourteen foreign investors were invited after Singapore lifted a ban on casino gambling in April last year, but two immediately opted out and eight withdrew their bids in succession as they evaluated their prospects.

"Bidding for the first casino project on Marina Bay, adjacent to the central business district, will close on March 29.

"…Still in contention are Harrah's Entertainment, Las Vegas Sands and MGM Mirage — all US gaming behemoths which have partnered with entrenched Singapore-based property developers — and Malaysia's Genting International…"

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