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Tabcorp, Packer Vie for Singapore Casino License

15 Feb 2005

AUSTRALIA – As reported by the Australian: "Gaming giant Tabcorp is set to take on Kerry Packer's Publishing & Broadcasting Ltd and a host of US gaming operators in the multi-million-dollar battle to create Singapore's first casino.

"Singapore's Government has invited concept plans to be submitted for the country's first integrated entertainment resort and casino, likely to be built on the island of Sentosa or in the Marina Bayfront area near Singapore's CBD. All plans are due by February 28.

"The moves by PBL, owner of Melbourne's Crown and Perth's Burswood casinos, and Tabcorp are seen as defensive as they try to stem the expected loss of Asian gamblers from their venues to the newly deregulating Asian markets.

"Tabcorp owns Star City casino in Sydney, Conrad Jupiters on the Gold Coast, Conrad Treasury in Brisbane and Jupiters in Townsville.

"But PBL is expected to be more exposed to the new casinos than Tabcorp as its venues attract the vast bulk of the high-roller Asian gamblers while Tabcorp's venues have moved out of that market…"

 
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