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PBL, Tabcorp Bid Leads Pack

6 May 2005

AUSTRALIA – As reported by the Australia Age: "Kerry Packer's Publishing and Broadcasting Ltd and Tabcorp have firmed as possible winners of Singapore's multibillion-dollar casino developments following a further shake-out of potential bidders.

"One rival, the joint bid between Hotel Properties and Metro Holdings, announced earlier this week that they 'will not proceed with the request for proposal submissions'. Neither party would give reasons for the withdrawal, but said it followed a meeting with the Singapore Tourism Board 'to discuss and clarify the requirements and selection criteria' for the final round of the tender. The news came days after US casino operator Argosy Gaming withdrew due to a pending merger.

"That leaves 12 syndicates bidding for the right to build one or both of the casino resorts - located at either Sentosa Island or Marina Bay, near Singapore's business district…"

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