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Singapore Scrutinizes Lasseters Listings Application

20 April 2004

SINGAPORE – As reported by the Business Times: "The Monetary Authority of Singapore (MAS), which last year rejected Cambodian casino operator NagaCorp's listing because of money laundering concerns, is leaving nothing to chance with another casino's application to list here.

"It is going through Australian casino operator Lasseters International Holdings's prospectus with a fine-tooth comb and is likely to extend the review period before the prospectus is registered.

"However, the team of professionals working on Lasseters' listing is quietly confident that they have addressed the MAS' key concern - safeguards to prevent money laundering.

"…Under the Securities and Futures Act, the MAS has up to 28 days to decide whether to register the prospectus. The MAS must register a prospectus before the company can launch its sale of shares to the public.

"…Lasseters aims to list on Sesdaq through an offer of 45 million new shares. It owns, among various assets, Lasseters Hotel Casino, which is located in Australia's Alice Springs in the Northern Territory state…"

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