Singapore casino license #2 has been granted to Genting International of Malaysia, beating competition from Kerzner International and Las Vegas-based Eighth Wonder. Singapore casino officials said that Genting’s £3.38 billion bid with Star Cruises was chosen largely because of its ability to attract ‘new and repeat tourism’ as well as raising Singapore’s profile as a family destination.
The island’s deputy Prime Minister, S Jayakumar went on to call Genting bid “the most compelling proposal overall that best meets our economic and tourism objectives.”
Singapore reversed its ban on casino gambling last year and awarded it first contract earlier this year to Las Vegas Sands Corp, which itself is building a $3.6 billion casino resort, due to open in 2009.
Genting’s Resorts World at Sentosa is earmarked to open a year later in 2010 and is expected to contribute S$2.7 billion to the economy by 2015 according to trade minister Lim Hng Kiang.
Lim Kok Thay, chairman of Genting International, said in a statement: ‘’We are extremely delighted to have been chosen and are very excited and honoured to be entrusted with the great task of taking Singapore’s tourism sector to the next level.’’
Industry analysts said that gambling in Asian countries such as Thailand and Japan (where pachinko a non-gambling game is prevalent) were now ‘highly likely’ to open up their own markets to large casinos.
China gambling. Betex signs scratchcard deal
The Betex Group is launching scratchcards in China after announcing a £4.75 million deal with the country’s Hebei Provincial Sports Lottery Management Centre (LMC).
Under terms of the 10-year agreement, Betex will deliver marketing consultancy and provide the investment for the roll out of the scratchcard gambling product into a network of sales points.
Scratch cards is …