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Harrah's to Use Access to Capital in Singapore Pitch

1 Nov 2004

LAS VEGAS -- As reported by Bloomberg News: "Harrah's Entertainment Inc., the No. 2 U.S. casino operator by market value, will use its ability to raise funds and draw tourists as part of its pitch to the Singapore government for a casino plan.

"The Las Vegas-based company, which started talks with the government in June, will also meet with Singapore Prime Minister Lee Hsien Loong and other government officials as part of a group of a dozen U.S. companies in the U.S.-ASEAN Business Council meeting this week.

"'We believe that with our strong access to capital and ability to build large tourist-oriented casinos, we can build something that Singapore would be very proud of,' Richard Mirman, senior vice president at Harrah's Entertainment, said in an interview. He said he's able to build a temporary casino in Singapore in nine months, and a larger operation in two to three years, if he gets a license.

"Singapore is considering a casino amid competition for tourists in Asia.

"...Singapore said it wants a so-called integrated casino development that may include a hotel and convention halls to boost its share of business travelers..."

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