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Race to build second Singapore casino heats up

Early December is likely to be a nail biting time for some of the world's largest casino operators, with a government minister from Singapore declaring that it would take until the last month of the year before a decision on casino contracts was made.

Groups are currently competing to be given the chance to build the city-state's second casino, following Las Vegas Sands' successful bid in May to construct the initial waterfront project.

Singapore's traditionally conservative gambling laws have been relaxed in recent months, attracting big business in the process. The government has said it wants to attract Asian gamblers and boost tourist-based income.

Groups vying to be awarded the latest contract have submitted bids worth up to $3.5 billion for the project, which is scheduled to open in 2010.

Theme park operators Universal Studios are thought to be interested, as are the Kerzner International group as part of a joint venture with CapitaLand, a Singapore real estate firm.

And the US-Singapore consortium could have the edge thanks to a design provided for them by renowned architect Frank Gehry, the man behind the Guggenheim Museum in Bilbao, Spain.


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