Singapore govt drafts legislation in preparation for casino resort projects
Singapore govt drafts legislation in preparation for casino resort projects
Forbes October 14, 2005
Singapore govt drafts legislation in preparation for casino resort projects
10.14.2005, 01:22 AM
SINGAPORE (AFX) – Singapore has drafted a casino control bill in preparation for the planned development of two casino resorts here, and will release it for public consultation on Monday.
The Singapore Tourism Board has said it will start seeking proposals for one resort-cum-casino, on the Marina Bay site, by the end of November, and for the other, on the Sentosa Island site, in the first quarter of 2006. It originally planned to conduct the bidding at the end of September.
The Ministry of Home Affairs said in a statement that regulatory control is critical to preserve public confidence and support for the continued growth and success of the casino resorts.
‘The objectives of the casino control bill are to ensure that the casinos remain free from criminal influence or exploitation; that gaming in the casinos is conducted in accordance with the laws; and that the potential of casinos to cause harm to minors, vulnerable persons, and society at large is minimized,’ the statement said.
The bill envisions the establishment of a Casino Regulatory Authority.
Keppel Land has partnered with Harrahs to bid for both sites, while CapitaLand has tied up with Kerzner International to bid for the Sentosa Island site and with MGM Mirage to bid for the Marina Bay site.
Other groups in the running include a consortium of Genting International, Star Cruises Ltd and Universal Resort, and a consortium of Publishing & Broadcasting Ltd and Melco International.
The individual bidders include Eight Wonders Asia, GuocoLand, Las Vegas Sands, Peermont Global, Sun International and Wynn Resorts Ltd.
