Genting Wins Singapore Sentosa Casino Contract

SINGAPORE – As reported by the Associated Press:"Singapore on Friday awarded its second casino resort contract to Genting International, whose $3.38 billion proposal promises to lure thousands
Genting has won the bid for the second resort casino in Singapore,  of visitors with a Universal Studios theme park and a huge outdoor marine park.

"Malaysia's Genting, partnered with Star Cruises, was the analysts' choice over its two competitors to build and operate the integrated resort, which is scheduled to open in 2010 on a 121-acre plot on Sentosa Island.

"…The two other bidders for the contract 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.

"The second casino, which will be called Resorts World at Sentosa, is expected to attract new and repeat tourism and raise Singapore's profile as a family destination.

"Resorts World at Sentosa will include six hotels -- one designed by American architect Michael Graves -- with more than 1,800 rooms.

"It is expected to contribute 2.7 billion Singapore dollars ($1.75 billion) 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.

"…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 which 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 that was to part each evening for a nightly show of acrobats and dancers."