Singapore Bets on Genting
| 11 December 2006 |    |
Move over Macau. It's now Singapore's turn to create some buzz in the global gambling business. On Dec. 11, the shares of Malaysia's Genting Berhad (GEBHY) shot up as high as 22% to 35.75 ringgit ($10.2) during trading in Kuala Lumpur after Singapore awarded the casino operator and entertainment concern the rights to build and operate a $5.2 billion gambling resort at Sentosa islands. Sentosa is the second of the two casino resorts that Singapore will have ready by early 2010. In July, Singapore awarded Las Vegas Sands (LVS) the rights to build a $5.6 billion casino resort at Marina Bay, next to the central business district. "Marina Bay is world's most expensive casino development and Sentosa is second biggest in the world," says Sean Monaghan, an analyst for Merrill Lynch in Singapore.
Though it doesn't aspire to rival Macau as the global gaming center, the Southeast Asian island-republic is keen to position itself as the playground for Asian tourists, luring well heeled gamblers from China, India and Southeast Asia to its shores.
Article By: BusinessWeek.com
Post a Comment
Top Online Casino Choice
Bodog Casino
REFER YOUR FRIENDS | Earn up to £30 / €30 / $30 cash for each friend you refer to Bodog Sportsbook, Casino and Poker Room
REFER YOUR FRIENDS | Earn up to £30 / €30 / $30 cash for each friend you refer to Bodog Sportsbook, Casino and Poker Room
Share it
Latest News
- World Poker Tour® Season X Premieres Sunday February 12th on Fox Sports Net®
Date: 10 February 2012 - Online Casino, Casino Online.co.pt, Announces New Website
Date: 10 February 2012 - Sale of Smaller Riverboat Complete in Lake Charles, Louisiana
Date: 10 February 2012 - PA Lottery: Feb. 11 Powerball Jackpot is $310 Million, Fifth Largest in Game History
Date: 10 February 2012 - PA Lottery: Feb. 11 Powerball Jackpot is $310 Million, Third Largest in Game History
Date: 10 February 2012 - Gamesys: Online Bingo Winner Gets Lucky With A Special Grand Prize!
Date: 10 February 2012 - Titan Casino Shows Players the Love with a Free EUR10 Valentine's Day Bonus
Date: 10 February 2012 - Senate Committee Hearing Focuses on Justice Department Internet Gambling Ruling
Date: 10 February 2012 - Sky Announce New Poker Game: Timed Tournaments
Date: 10 February 2012 - One of the Sexiest Slot Games in Vegas is Finally Online! Introducing the Mermaid's Gold(TM) Slot, Only at JackpotParty.com
Date: 10 February 2012
Law Articles
Readers Comments
No comments have been submitted yet for this article.