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Singapore questions casino deal

25 January 2007

SINGAPORE – As reported by Reuters: "Singapore's government is questioning a tie-up between Genting International, which won one of the two casino licences in the city-state, and casino mogul Stanley Ho, a local newspaper said on Jan 25.

"Quoting unidentified sources, Singapore's pro-government daily the Straits Times said talks between the Malaysian firm and Macau-based Ho, 84, had 'raised a red flag with the authorities'.

"Malaysian leisure group Genting Bhd said on Jan 23 that it would sell a small stake in its US$3.4 billion (RM11.9 billion) Singapore casino project to Ho and would in turn buy a controlling interest in a new gaming project that Ho plans in Macau…"

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