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Sun International Looks to Strengthen Singapore Bid

22 Jun 2005

SINGAPORE – As reported by Dow Jones: "Sun International Ltd. (SUI.JO) is in discussions with potential partners, including local investors, to strengthen its bid to build a proposed casino resort in Singapore, a senior executive said Wednesday.

"'We are in discussions with potential partners but we haven't decided on a partner. We will have provisioning for Singaporean investment,' Peter Bacon, the South African casino operator's chief executive, told Dow Jones Newswires.

"Bacon - in Singapore to attend the Asian Casinos Expo 2005 - declined to identify the partners.

"Competitor Harrah's Entertainment Inc. has teamed up with Singapore property developer Keppel Land, while Kerzner International Ltd. and MGM Mirage have teamed up with CapitaLand in separate bids.

"Sun, which generates 42% of South Africa's gaming revenue, is among 14 bidders for Singapore's two integrated resort projects. One will be located at Marina Bay, near the city center, and is expected to cost around US$2 billion to build. The other on the resort island of Sentosa is expected to cost between US$1 billion and US$2 billion.

"Sun is bidding for the Sentosa site. Bacon wouldn't divulge any estimates on the company's proposed spending but said its proposed design won't be similar to its projects elsewhere…"

 
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