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Taubman to Join Harrah's Singapore Bid

19 Dec 2005

SINGAPORE – As reported by Reuters: "A U.S. mall operator said it would join Las Vegas gaming group Harrah's Entertainment Inc. (HET.N) and Singapore developer Keppel Land Ltd. (KLAN.SI), which are bidding for Singapore's first casino project.

"The Asian arm of Taubman Centers Inc. (TCO.N), a property trust listed in New York with a market capitalisation of US$1.8 billion, plans to invest in the retail component of Singapore's first casino if the consortium wins the bid, an executive said.

"…Taubman's Asian arm would take an equity stake in a joint venture to develop part of the downtown casino complex housing shops and restaurants…"

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