Genting confident

Genting Bhd’s chairman and chief executive, Tan Sri Lim Kok Thay, declared that his company are confident of securing Singapore’s second casino license, with an announcement of the winning bid expected later this week. The winning casino will be built on Sentosa Island.

“The team has worked hard and we are confident about winning the bid,” he told reporters at the launch of a new branch of CIMB Bank.

However, Genting are not taking anything for granted and are yet to finalise the financial funding of the project, declaring that they want to take things “one step at a time”. If successful, it seems inevitable that Genting would partner with CIMB Group.

“I won't be able to say that yet. But CIMB and Genting have an excellent relationship, both in banking and financing. That is where we hope to grow our relationship even stronger,” said the chairman.

Genting’s strongest competition will be likely to come from Las Vegas-based company Eighth Wonder, whose bid has received backing from non-other than football legend Pele.

Singapore’s first casino licence was granted last May to Las Vegas Sands with work expected to be complete by 2009. The government hope that two new casinos will help them achieve their goal of doubling tourist numbers to 17 million by 2015.

Editor, - 2006-12-06 11:37:24

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