Genting to Build Singapore's 2nd Casino
Friday, December 08, 2006
SINGAPORE Singapore on Friday awarded its second casino resort contract to Genting International, whose $3.38 billion proposal promises to lure family tourists with a Universal Studios theme park and a huge outdoor marine park.
Malaysia's Genting, partnered with Star Cruises, was chosen over two competitors largely based on its ability to attract new and repeat tourism and raise Singapore's profile as a family destination, government officials said.
Genting provided "the most compelling proposal overall that best meets our economic and tourism objectives," Deputy Prime Minister S. Jayakumar told a news conference.
"In particular, the proposal reflects our vision for the Sentosa integrated resort as a large scale family resort with its host of world-class family leisure activities and other strong offerings," he said.
The two other bidders were Bahamas-based Kerzner International Ltd. and Eighth Wonder, a Las Vegas-based company whose founder, Mark Advent, created the New York New York casino.
Singapore reversed its decades-old ban on casino gambling last year in an ambitious attempt to double visitor arrivals to 17 million by 2015.
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The first contract was awarded in May to Las Vegas Sands Corp., which plans to open its $3.6 billion casino resort by July 2009, based on expectations that it will attract convention and business visitors.
Resorts World at Sentosa is scheduled to open in 2010 on a 121-acre plot on Sentosa Island.
It is expected to contribute 2.7 billion Singapore dollars to Singapore's economy, or 0.8 percent of the city-state's gross domestic product, as well as add 30,000 jobs by 2015, Trade Minister Lim Hng Kiang said.
The evaluation team praised the bid for a design that reflected the tropical resort feel of the island, with extensive use of water, stone and wood materials and in its buildings and landscaping.
"We are extremely delighted to have been chosen and are very excited and honored to be entrusted with the great task of taking Singapore's tourism sector to the next level," Lim Kok Thay, chairman of Genting International and Star Cruises, said in a statement. "It will change the face of tourism in the region. We are confident that by 2010, Resorts World at Sentosa will attract 15 million visitors."
The plan includes six hotels _ one designed by American architect Michael Graves _ with more than 1,800 rooms. Genting also promises a 20-acre marine park, including a whale shark lagoon.
Resorts World at Sentosa will also include a Universal Studios theme park _ the second in Asia _ with 22 attractions, 16 designed specifically for Singapore and an animation studio. The Universal Studios park will take up roughly half of the site.
The resort will have meeting facilities, retail stores and a 1,600-seat theater for a resident show produced by some members of the creative team behind Cirque du Soleil.
The resort will adhere to Sentosa guidelines that ensure 70 percent of the island remains "green" with plant life, the officials said.
The government evaluated the proposals for Singapore's second casino based on tourism appeal _ a hefty 45 percent of the criteria _ architectural design, level of investment and strength of the bidding consortium and partners.
Bahamas-based Kerzner had teamed up with CapitaLand, Southeast Asia's largest property developer, with a $3.4 billion proposal to build a futuristic version of its Bahamas Atlantis resort that would have included the world's largest aquarium.
Eighth Wonder led a four-partner consortium that envisioned a $3.57 billion resort built into a hollowed-out volcano crater, with a 10-story-high waterfall, and venues managed by celebrities such as soccer legend Pele and fashion designer Vera Wang.
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Associated Press writer Gillian Wong contributed to this report.
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