9 December 2007

The Star
Resorts to sell entire GIL stake

It is making an offer of one GIL stock for 10 Resorts shares

PETALING JAYA: Resorts World Bhd has proposed to sell its entire 6.16% stake in Singapore-listed Genting International plc (GIL) to its own shareholders.

The company told Bursa Malaysia yesterday that the price and entitlement period for the non-renounceable offer of one GIL share for every 10 Resorts World shares would be announced at a later date.

Resorts World said it “intends to fix the offer price at the ringgit equivalent of Resorts World's average cost of investment?in GIL.

At Dec 14, Resorts World owned 593.72 million shares in GIL valued at about US$158.8mil.

Assuming it sells the shares at 89 sen each, or 38.8 Singapore cents, the exercise would net total proceeds of RM527mil for Resorts World.

Based on GIL's closing price of 69.1 Singapore cents on Dec 14, the offer would translate to a discount of nearly 44% against the stock's market price.

The share sale exercise is targeted for completion by the end of the first quarter 2008.

Resorts World said proceeds from the divestment would be used for working capital and investment, including mergers and acquisitions. The exercise will give Resorts World investors direct exposure to GIL.

In 2006, the GIL group acquired Britain's largest casino operator Stanley Leisure plc and de-listed the company from the London Stock Exchange (LSE) in November the same year.

GIL also assumed 100% equity and full control of the integrated resort on Sentosa Island, a project awarded by the Singapore government late last year.

As of Dec 13, the company also had a 10% stake in LSE-listed Rank Group plc, Britain's second largest bingo operator and second largest casino operator, which also has online gaming businesses.

6 December 2007

Voice of America
Casino Growth in Asia Brings Worries About Gambling Addiction

As more casinos open in Asia, and online gambling increases, mental health experts and governments are worried about addiction to gambling. Claudia Blume reports from VOA's Asia News Center in Hong Kong.

Man stands next to board displaying results of Mark Six lottery at branch of Jockey Club in Hong Kong (File photo)
Wednesday is horse racing day in Hong Kong. All over the city, people crowd into one of the many gambling outlets of the Hong Kong Jockey Club to place their bets.

Serious-looking men and a few women stand around studying the odds of the day's races in newspapers and on TV screens.

For most people here, gambling is just a form of leisure and entertainment. But for some, it becomes an addiction that ruins their lives.

One of them is "Tony", a government official in his forties, who declines to give his real name. He says betting on horses started out as a pastime. He won a few times at first, played more and more often and couldn't stop once his lucky streak was over. Tony continuously lost money until, four years ago, he had amassed a debt of more than $100,000.

"I had to sell our apartment," he said. "My wife and I and our two daughters had to move in with my father-in-law, where the four of us shared one single room."

In Hong Kong, where betting on horses and football is legal, people have one of the highest per capita betting averages in the world, about $2,000 a year.

A study by Hong Kong Polytechnic University shows almost four out of five people in the territory participate in some form of gambling. That includes betting on horses or football, lottery games, casino gambling in neighboring Macau - but also mahjong games with family and friends.

Elderly women play cards for money in Hong Kong park (File photo)
People in Hong Kong are not the only Asians who love to gamble. Psychologist Samson Tse is a founding director of the Center for Asian Health Research and Evaluation at the University of Auckland in New Zealand. He says gambling has strong roots in Asian culture, especially Chinese, and reflects the world-view of many people in the region.

"For example the notion of fatalism, the notion of luck and so forth," he explained. "We tend to think about life as a form of gamble and push our luck to see how far we can go. We work very hard, we try to survive in a very hardy environment - so anything that can help us improve our lives, anything that can help us to have fast, quick-fix solutions, we all will try."

Tse says while the participation rates of Asians in gambling activities is high, there is no evidence that more Asians are addicted to gambling than non-Asians. But he says this is partly due to psychologists' Western methods of evaluation, which may not be applicable to Asians. In addition, many people in Asia may be too ashamed to reveal they have a gambling problem.

Tse says it is hard to make exact predictions, but it is very likely more people will get addicted in the future, as an increasing number of gambling outlets open up in the region.

"Macau is one of the examples. And we know for a fact from the public health research - when people have increased level of participation, that usually leads to the increase in the scale and also the severity of pathological gambling," he said.

The number of gambling outlets in Macau, Asia's gaming capital, has more than doubled to 27 in the past few years. The city's revenue from gambling was seven billion dollars last year, making it the biggest single gaming market in the world.

Inspired by Macau's success, other Asian countries are jumping on the bandwagon. Singapore ended a decades-old ban on gambling two years ago, and will have two casino resorts by 2009. Japan and Taiwan are considering legalizing casinos.

And construction began earlier this year on a four-billion-dollar luxury gaming resort in southern Vietnam.

According to investment bank Merrill Lynch, casino companies are expected to spend as much as $71 billion in Asia over the next five years.

Janet Wong, a counselor at the Caritas Addicted Gamblers Counseling center in Hong Kong, says an increasing number of people who seek help at her center are gambling in Macau casinos. She says, in many cases, it is their family members who call, because they are at their wits' end.

"Some loan sharks escort the gambler from Macau to Hong Kong and make a phone call to the gambler's family members and ask them to help the gambler pay the debts," she said. "Usually, they don't have any information how to deal with the situation."

Samson Tse says what particularly worries him is that in some countries, such as South Korea, casinos are integrated with or close to resorts where families spend their holidays. In other countries, for example in New Zealand, gaming machines are set up in family restaurants.

"The problem of that, or the challenge of that is almost normalizing gambling to such an extent that it becomes a very daily, ordinary activity," he said.

Even more dangerous, he says, is the increasing trend of Internet gambling in the region. In South Korea, for example, according to South Korea's Cultural Information Center, about seven percent of the population is addicted to online gambling.

Addicts can gamble 24 hours, seven-days a week - without any social interaction that may stop them from doing so.

A number of governments in the region have started to address the problem. Two years ago, the first Asia Pacific problem gambling conference was held in Hong Kong. Singapore hosted another problem gambling conference last July.

South Korea provides educational material and school counseling in an attempt to stop the country's rampant Internet and online gambling addiction. In Macau, Singapore and Hong Kong, problem gamblers can call hotlines and seek help from several counseling centers that have opened in the past few years.

2 December 2007

The Electric New Paper
Isle of dreams just grows bigger and bigger

IF size does matter, then Sentosa is on the right track.

Since the island was picked for tourism development back in 1972, it has grown by two thirds of its original size. Then, the island, known as Pulau Blakang Mati, was 280 hectares. That is about the size of 420 football fields. By the '80s, it had enlarged to 360 ha. And from now until next year, it will expand to a total land area of 463 ha.

It has all been in the pursuit of tourism, with bigger and newer attractions forcing the island to spread out. The latest reclamation programme, which will be along the north shoreline of Sentosa, is to cater to some of the new attractions that Resorts World at Sentosa (RWS) has to offer under its integrated resort development. The expansion includes two stretches of reclaimed land at the IR, with one starting just beside the Sentosa Gateway Bridge. The other is at the IR's west zone. The reclamation works, which started in June, will be finished next year. Currently, about half has been completed.

An RWS spokesman told The New Paper: 'At the west zone, the reclaimed land covers the stretch of man-made beach area right in front of ESPA, a luxury spa and resort. 'Part of the FestiveWalk - the spine of the resort - and part of the Maritime Xperiential Museum will be located on the reclaimed land just beside the Sentosa Gateway Bridge.'

This spectacular expansion of the island has been in progress since 1972 when the Sentosa Leisure Group (SLG), formerly known as Sentosa Development Corporation, was formed to develop the island as a tourist destination.

ATTRACTIONS

Throughout the '70s, attractions began sprouting up across the island - a cable car service linking Mount Faber and Sentosa, Fort Siloso and a wax museum.

At the same time, reclamation works were being carried out on Pulau Hantu, Pulau Seletar, Pulau Ringgit, Sisters Island, Lazarus Island and Buran Darat.

In the '80s, the developments didn't stop there, with the opening of the iconic Musical Fountain, a Pioneers of Singapore museum and a ferry terminal for a ferry service from the mainland.

By late '90s, three resorts - Shangri-La's Rasa Sentosa Resort, Sijori Sentosa Resort and NTUC Sentosa Beach Resort - were rolling out their welcome mats for visitors.

In the last few years, rapid development has also changed the shoreline, with clubs such as Cafe Del Mar, the Siloso Beach Resort with seaview villas and dining amenities along Palawan Beach.

But the rapid mushrooming of these new attractions has led to a boom in the island's infrastructure as it braces itself to open up for more tourists.

The RWS is expecting to draw 15million visitors in its first year of operations, with about 40,000 visitors a day. Last year, Sentosa alone saw 5.7million visitors. With the opening of RWS in 2010, more than 20 million visitors are expected to visit the island annually.

To cope with the increase in traffic, new roads running parallel to the current Gateway Avenue bridge will be built. RWS' CEO Mr Tan Hee Teck said the bridge was factored into the resort's blueprint in anticipation of the 'manifold increase' in traffic when the resort opens. The cost of construction is estimated between $60 million and $80m.

On the new roads, a RWS spokesman said: 'There will be two routes with one direct route (with at least two lanes on each side) for those going to and leaving the IR. The roads will lead to the basement carparks at the IR. 'Another route will be used by those visiting Sentosa.'

With a total of 4,100 carpark lots, some will be located at the six hotels in the resort, below the Universal Studios' lake, and the basement of Le Vie Showroom atFestiveWalk.

The rail service will continue to bring visitors to other parts of Sentosa, with the first stop at Imbiah station near The Merlion.

And although the 18-year-old Sentosa Ferry Terminal was demolished in July to make way for the IR, Sentosa Leisure Group told The New Paper that they do not rule out the possibility of building a new one in the near future.

--------------------------------------------------------------------------------

Dream project: More than half of excavation, piling done

Once Resorts World at Sentosa (RWS) swings its doors open to visitors, it's not just those on the island who will get an eyeful.

Across the Sentosa Gateway Bridge, shoppers at VivoCity will have a bird's eye view of two crane-like structures dancing in a multi-media show at FestiveWalk's waterfront.

That is just one part of the resorts' three-zone plan - FestiveWalk in the central zone, Universal Studios in the east and water attractions in the west.

RWS' CEO Mr Tan Hee Teck expects to spend as much as $6 billion to build the resort, up from an earlier estimate of $5.2b.

This new budget includes a contingency provision of $250 million, which also covers improvements to transport and other infrastructure.

With 1,300 construction workers clocking a 24/7-shift, RWS said the IR is on schedule to open in early 2010.

Already, more than 50 per cent of the overall excavation and piling has been completed.

14 December 2007

Reuters Africa
Singapore deals embassy gamblers a jail card

SINGAPORE, Dec 14 (Reuters) - Two Singaporean men were jailed and fined for running an illegal gambling den in the Senegal consulate in the city-state, a newspaper reported on Friday.

The pair, who were jailed for about a month each and fined S$40,000 ($27,780), told the judge their clients thought the laws of the West African state, and not Singapore, were applicable in the consulate, the Straits Times paper reported.

The men, who had previous convictions for gambling, had invested S$392,000 in the operation but were caught last November when the den was raided by officers from Singapore's Gambling Suppression Branch.

The gambling den saw stakes reaching S$1 million every night. Bets on Baccarat -- a popular card game -- fetched S$300 to S$30,000 in the den's high-roller room, the paper said.

The consulate could not be reached for comment.

Running an illegal casino in Singapore is punishable with a maximum fine of S$50,000 and up to three years in jail.

But the wealthy city-state last year lifted its long-standing ban on casino gambling to boost the tourism and services sectors, with two multi-billion dollar casinos planned. (Reporting by Melanie Lee, editing by Neil Chatterjee)

11 December 2007

Business Times
Hugo Boss leads the way with IR boutique

It’s the first luxury brand to confirm a space at Marina Bay Sands IR

LUXURY brand Hugo Boss will set up a 2,000 square feet boutique in the upcoming Marina Bay Sands integrated resort (IR) - the first luxury brand to confirm taking space there - as it seeks to grow its sales in Singapore by as much as 50 per cent over the next three years.

‘I see a potential upside for growth of about 50 per cent over the next few years, especially with the new stores,?said Hugo Boss chief executive Bruno Salzer. ‘We will definitely have a presence in the two casinos.?br>
In addition to the Marina Bay Sands boutique and the one targeted for Genting’s Sentosa IR, Hugo Boss is also keen to have a presence in upcoming Orchard Road mall Ion Orchard, said Brian Ang, managing director for the Hugo Boss franchise in Singapore and Bangkok. ‘It is important for us to be in Ion Orchard,?he said. ‘Most probably we will be somewhere prominent in the mall.?br>
Hugo Boss recently celebrated its 20th anniversary in Singapore, for which Dr Salzer flew into town. The upcoming boutiques in Singapore are part of Hugo Boss’s push to expand in the region at a fast clip.

The label has about 170 stores in Asia (excluding Japan) at present, but Dr Salzer wants to grow the number by about 15-20 stores yearly over the next few years, he said. ‘Asia now contributes about 10-11 per cent of total sales, and I expect double-digit growth over the next couple of years,?said Dr Salzer.

Within the region, Japan and China are the biggest markets for the group. Of the 15-20 new stores the brand aims to add each year, the bulk are likely to be in China, he said. But Dr Salzer is also excited about the potential for growth in Singapore, especially with the new stores coming up.

Mr Ang said that in addition to the planned new stores, Hugo Boss is looking at revamping its existing boutiques.

Right now, the brand’s flagship boutiques in Ngee Ann City are split across two levels. But by the end of next year, the brand hopes to have its space all on one floor, - with a 7,000 sq ft floor plate - Mr Ang said. He did not specify if the boutique will be in Ngee Ann City as well. In addition, there are also plans to revamp Hugo Boss’s 1,600 sqft store in Paragon. Mr Ang is looking at taking up more space. The brand also has a boutique at Changi Airport.

The Boss boutique in Marina Bay IR will be ‘more luxurious?and will be designed to appeal to high-rollers, Mr Ang said.

7 December 2007

The Hollywood Reporter
European soccer hit with Asian crime scandal

COLOGNE, Germany -- Soccer, Europe's favorite pastime, a broadcasting magnet and the center of a multibillion-dollar business, took a heavy blow this week after reports that Asian gambling syndicates might have fixed several key European club matches, scooping up millions in illicit bets.

The Union of European Football Associations has asked Europol to investigate the allegations. They involve Europe's most popular and lucrative club tournaments: the UEFA Champions League and the UEFA Cup.

There also have been reports that some qualification matches for next year's European Cup -- a ratings giant across the continent -- might similarly have been manipulated by Asian organized crime.

But while the scandal has been front-page news across Europe, broadcasters are holding their collective breath and clearly hoping the scandal will soon disappear.

"We obviously can't comment on an ongoing investigation, but at the moment we have no plans to change our schedule or revisit our (rights) contracts with UEFA," said Kristina Fassler, head of communications at Berlin-based Sat.1, which airs UEFA Cup and Champions League games.

A spokesman for U.K. pay TV group British Sky Broadcasting, which together with free-to-air ITV pays UEFA about $180 million a year for Champions League rights, called reports of match fixing "completely hypothetical," saying there has been "only a whisper" of scandal surrounding European soccer.

According to the official dossier UEFA submitted to Europol, it's a pretty loud whisper. The document provides details of at least 15 matches thought to have been fixed during this season alone. It says gambling cheats easily can bet $1.5 million-$2 million per match and make a similar-sized profit.

"It's our strong suspicion that agents collecting bets for the Asian betting companies are often playing a major role in manipulating matches," the dossier stated.

Although sports betting is legal in Europe it is tightly controlled, with bets often limited to three-figure sums and the gamblers required to identify themselves.

At many Asia bookmakers, limits can be as high as $50,000-$60,000 per bet, with gamblers allowed to place multiple wagers with no ID required.

UEFA suspects that Asian crime syndicates might have been systematically bribing European players, managers and referees to fix games, calling in wagers from Europe via mobile phone to betting parlors in Shanghai and Macau.

Europol officials believe that in addition to turning a profit, some syndicates also might be using the gambling fraud to launder money from the drug trade, prostitution and weapons deals.

This isn't the first time Asian crime has mixed with top European soccer. Early last year, Belgian soccer was shaken to its foundation by a betting scandal involving a Shanghai-based syndicate and leading clubs across the country.

There also has been plenty of homegrown fraud across Europe. Last year's match-fixing in Italy involving referees and several of the country's top clubs resulted in fines and relegation of one squad to a lower division. In Germany, corrupt referee Robert Hoyzer became a poster boy for cheats after it was revealed he manipulated several matches in exchange for cash from a Croatian gangster.

However, such scandals have done little to dampen European fans' appetite for soccer. Television ratings and stadium attendance in Belgium, Italy and Germany showed barely a dent after scandals in those countries.

Such outcomes contrast sharply with the sport of cycling, which was severely damaged this year by doping scandals at its premier event, the Tour de France. German public broadcasters ARD/ZDF pulled live coverage after repeated doping allegations against leading riders, and many of the sport's main sponsors -- including T-Mobile and drinks group Gerolsteiner -- have since withdrawn their support.

6 December 2007

Reuters
S'pore's Lian Beng says not yet awarded casino project

Singapore construction firm Lian Beng Group (LIBG.SI: Quote, Profile, Research), whose share price rose 8 percent on Thursday on speculation that it has won a S$500 million casino project, said it has not been told of the outcome of its bid.

"Lian Beng has submitted a tender but has not been informed of the outcome yet," said a company spokeswoman.

A source said the contract to build a part of an upcoming multi-billion dollar Marina Bay Sands casino in Singapore is likely to be awarded next week.

A consortium comprising Lian Beng and Koh Brothers (KBRO.SI: Quote, Profile, Research), which both called for trading halts on Thursday, and privately-held Gammon, are the two shortlisted bidders for the project, the source said.

CIMB-GK Research said in a note on Thursday that Lian Beng Group has the advantage of knowing the ground conditions well at Marina Bay, and said it was one of two contenders.

"We believe LBG stands a better-than-average chance of clinching the casino/museum contract," said analyst Song Seng Wun at CIMB-GK, maintaining an outperform rating on the stock and raising its target price to S$1.14 from S$0.89.

Shares in Lian Beng climbed 7.8 percent to S$0.76 before the trading halt on Thursday. The stock has more than tripled this year. Koh Brothers jumped 24.3 percent on Thursday, versus a 0.2 percent drop in the broader Singapore index .STI. (Reporting by Chua Baizhen, Kevin Lim and Melanie Lee, editing by Neil Chatterjee)

30 November 2007

International Herald Tribune
For Native American, money leads the way

SINGAPORE: Osceola was one of the greatest Native American leaders of all time, leading his Seminole warriors in Florida to victory against five U.S. generals before finally being captured in 1837, duped under a flag of truce.

Today, one of his descendents, Max Osceola Jr., is carrying on the struggle to secure the future of the Seminole tribe - from a boardroom.

As one of five elected members of the Tribal Council that governs the 3,320 Seminoles, a position he has held for 24 years, Osceola, 57, has played a major role in making the Native American tribe one of the richest in the United States, thanks largely to a well-managed gambling business that has helped build roads, schools and other infrastructure improvements.

Though the tribe does not divulge its gambling revenue, analysts say they believe that it operates one of the most profitable gambling enterprises in the world. According to a report on Native American gambling by Alan Meister, an economist at Analysis Group, total revenue at all of Florida's Native American-owned gambling facilities was estimated at $1.6 billion in 2006. All but one of the casinos are owned by the Seminoles.

In December 2006, the Tribal Council decided to pay $985 million to acquire Hard Rock International, the company that owns the rights to the Hard Rock Cafe brand and several properties. James Allen, chief executive of the Seminole gambling operations, said Osceola was an early and great supporter of the acquisition. "He saw the vision and opportunities for the future," Allen said.

Osceola sees the business ventures as accomplishing a greater good. "This tribe has gone from being dependent on government contracts, grants and hand-outs to being independent," he said.

Hard Rock International no longer releases its financial results to the public, but the last published figures, in 2006, showed revenue of $502 million, up 11 percent from the previous year. The bulk of revenue came from the company-owned Hard Rock Cafe restaurants and bars. Operating profit for 2006 stood at $74.8 million, up 19 percent from the previous year.

The acquisition made sense for the tribe in two ways, Osceola said. The Seminoles were familiar with the brand through the Hard Rock Hotels & Casinos on their Florida reservations, and buying a broader hospitality business would allowed the tribe to diversify away from pure gambling. While the Seminoles have interests in cattle ranching, citrus production, tourism promotion, sports management and tobacco sales, gambling brings in about 90 percent of tribal revenue.

The Seminoles have big ambitions for the Hard Rock brand. They have already announced plans to develop a Hard Rock Hotel in Penang, Malaysia, and another in Singapore as part of an integrated resort being built on Sentosa Island.

"Over the next 5 to 10 years, we're looking to expand the brand from 124 cafés to 200, the hotels from 9 to 40 and the casinos from 4 to 20," Osceola said recently at the Hard Rock Cafe in Singapore, where he was meeting with franchisees and scouting for expansion opportunities in Asia.

Analysts are cautiously optimistic about the plans. "Hard Rock has never been really active in the gaming side in Asia, and they have never been a serious casino operator," said Gabriel Chan, an Asian gambling industry analyst at Credit Suisse. "I think there will be lots of co-branding opportunities."

A passionate owner and rider of Triumph and Harley-Davidson motorcycles - "I was born to be wild, before we got to rock," he said with a laugh - Osceola says his other passion is education, which he sees as the key to economic independence for his people.

The second Seminole to graduate from college - from the University of Miami, in 1974, with a degree in political science - Osceola took his first job with the tribe as education director. Today, about 150 Seminoles have gone on to universities and graduate schools, and the numbers are growing, Osceola said.

The Tribal Council has also set up a three-year apprenticeship program for youngsters wanting to learn about the gambling business.

"In our culture, the elders are teachers," Osceola said.

"Back in the Everglades, they would teach us where to hunt and fish, where to plant. They knew the rhythms of nature. Today, it's a different commodity. Instead of fruits and vegetables, it's money, and we have to learn how to manage this commodity."

5 November 2007

The China Post
400 arrested over illegal sports betting

LYON, France -- A massive police operation targeting illegal football betting linked to organized crime has resulted in 423 arrests across Asia, Interpol said Friday.
Some 272 underground gambling dens were shut down as part of the operation, carried out over the last two months, the international police organization said in a statement.

Authorities estimated the gambling dens handled more than US$680 million (459 million euros) in illegal bets worldwide, said Interpol, which coordinated the operation.

The operation codenamed SOGA -- for soccer gambling -- involved authorities in Malaysia, Singapore, Thailand, Vietnam and China, including Hong Kong and Macau.

"This operation has not only seriously affected the activities of organized crime gangs throughout Asia, but also served as an excellent test of national, regional and international police cooperation ahead of the 2008 Olympic Games," said Interpol's executive director of police services, Jean-Michel Louboutin.

Beijing will host next year's Summer Olympics.

Interpol's headquarters is in the French city of Lyon.

14 November 2007

Dowjones Business News
Singapore Postpones Building Project Worth At Least S$2 Billion

SINGAPORE (AFP)--Singapore is postponing building projects worth at least S$2 billion ($1.39 billion) to cope with pressures on its booming construction sector, a statement received Wednesday said.

The delays are among a number of measures announced by the government to deal with a boom in the city-state, whose economy powered to 9.4% growth in the third quarter, according to official estimates.
"The postponement of these projects that are worth at least S$2 billion in total would help to ease pressure on construction resources in Singapore," said a news release from the Building and Construction Authority (BCA), a government agency.

A prison facility and Ministry of Health center are among the projects deferred to 2010 or beyond, it said.
"In particular, this is expected to reduce the demand for additional construction manpower required in the next two years by 20 to 40%," it said.

The bulk of construction activities over the next two years is expected to focus on two multi-billion-dollar casino projects, a new downtown subway line, a waterfront office development and petrochemical plants, BCA said.

Authorities will also relax policies on employment of foreign labor and help to expand the capacity of building firms, it said.

In August, a local newspaper quoted the chief executive officer of Las Vegas Sands as saying the cost of its casino development could balloon by up to 40%.

William Weidner was quoted as saying escalating building costs, sparked by an Indonesian ban on sand exports, as well as refinements to the design, were responsible.  

8 November 2007

Channel NewsAsia 
New technology could be employed to beef up security in IRs

Active Alert System surveillance system

New technology could be employed to beef up security in integrated resorts

SINGAPORE : An emerging technology called video analytics could be used to beef up security and surveillance.

Security solutions provider Honeywell, the company behind the active alert system, wants to pitch the idea to Genting International and Las Vegas Sands, operators of the two upcoming integrated resorts in Singapore.

This technology is already used at MGM's newest casino in Detroit, USA.

Major casinos around the world turn to surveillance systems to keep an eye on their business. On average, a large casino could be fitted with over 2,000 security cameras which monitor the gaming environment and game tables.

Honeywell is betting on its new technology to take it a step further.

Using video analytics, its Active Alert System can track and analyse the behaviour of individuals and objects and delivers real-time alarm when something is amiss.

Said Andrew Jackson, System Sales Manager at Honeywell: "We digitise the signal from the camera. And with advance algorithms, that information is interpreted. When you have thousands of cameras, the operator can only see so many cameras at any one moment in time.

"What we use analytics for is to perform the job of the operator and identify things of interest in the background, and presenting them to the operator to make a decision. That also increases efficiency of the system dramatically."

The system is able to report on over 35 preset events and behaviours, including intrusion detection and even traffic flow measurement. The information gathered can then be used to modify operations for maximised security.

The company said the tool can provide marketing data like which areas are frequented more regularly by the patrons.

It can also help to enhance customer experience by tracking the length of a queue and waiting time, so that staff can open another service counter when the line gets too long.

The time taken to conduct investigations involving multiple cameras will also be shortened. Footage which take a week to review can now be done in mere minutes. - CNA /ls

7 November 2007

Channel NewsAsia
ET joins Sentosa IR fun

SINGAPORE: Resorts World at Sentosa (RWS) has upped its budget from S$5.2 billion to S$5.75 billion - and not just in view of the rising construction costs.

The developer is bumping up its theme park offerings, with two new rides - one a rollercoaster, the other based on the hit movie ET - for its Universal Studios Theme Park. This brings the total number of rides to 24.

There will be four more free multimedia shows, on top of the three already announced such as a laser-and-water show designed by Emmy award winner Jeremy Railton.

These extras, as well as improvements to hotels and infrastructure, will take up half of the S$550 million cost revision. The other half will go to cover the increased construction costs. On top of the S$5.75-billion budget is another S$250 million allotted for contingencies.

A ban by Indonesia on sand exports early this year, coupled with a buoyant property sector, has prompted the Government to release more sand from the national stockpile and diversify its sources.

About two months ago, Las Vegas Sands - which is developing the Marina Bay Sands integrated resort slated to open in 2009 - announced that it was "struggling" to stick to its budget and anticipated up to a 40-per-cent spike in its US$3.6-billion (S$5.5 billion) projection.

Speaking via teleconference from Hong Kong on Tuesday, RWS chief executive Tan Hee Teck said: "With scarce resources, the cost escalation has been higher than anticipated."

Still, according to Mr Michael Chin, senior director of projects, RWS has managed to "lock in" the prices of concrete and structural steel at "very competitive prices". RWS and China's Jingye Construction Engineering Contract Company signed a S$60-million contract in September for 23,000 tonnes of structural steel for work on the resort.

But while such costs have been manageable, Mr Chin noted, labour costs and margins of contractors have risen significantly. Still, Mr Justin Tan, managing director of Genting International, does not anticipate any further changes to the budget or the 2010 date for the soft launch.

"We are on track and in negotiation with contractors who have not indicated any delays to date," he said.

Mr Tan also said he was "very confident" about the growing Asian economy. With a growing middle-income market in China and India, RWS in Singapore will draw them over by being "a very unique and differentiated destination".

Three lots will be left vacant within the theme park to allow for later expansions and additions, he added.

Work on Universal Studios Singapore began last month and another S$1 billion worth of building contracts will be awarded by early next year.

Meanwhile, Genting International has posted a third-quarter loss because of an "impairment" charge, Mr Tan said. The company lost S$393.4 million, or 5.66 cents a share, in the quarter ended 30 Sep, compared with a profit of S$86.9 million, or 1.39 cents, a year earlier, the company said in a statement to the Singapore Exchange.

It expects a full-year loss including the charge, said Mr Tan. - TODAY/ym

6 November 2007

Reuters
Black Eyes - Genting reports S$800M cost overrun for S'pore casino

SINGAPORE, Nov 6 (Reuters) - Genting International (GNTG.SI: Quote, Profile , Research) said on Tuesday the estimated cost of building its casino resort on Singapore's Sentosa Island has soared by S$800 million due partly to higher construction expenses.

Genting International, a unit of Malaysian casino operator Genting Bhd (GENT.KL: Quote, Profile , Research), now expects to spend as much as S$6 billion ($4.14 billion) to build the Sentosa casino, up 15 percent from an earlier estimate of S$5.2 billion.


The new budget for the casino, which includes a contingency provision of S$250 million, also covers the cost of six new attractions as well as improvements to transportation and access infrastructure, Genting International said in a statement.

The higher cost of construction accounted for about half the increase in budgeted expenses, Genting International Managing Director Justin Tan said during a telephone conference.

The company will cover the additional expenses through project financing at the resort level. "We do not have any plans to go to shareholders for money," he said.

Genting International earlier this year raised S$2.17 billion from shareholders via a rights share issue.
Genting International on Tuesday also reported a loss of S$393.4 million for the three months ended September 30, reversing from a net profit of S$86.9 million a year earlier.

The loss was mainly due to an impairment loss on intangible assets of S$454.6 million.

BOOM

Singapore is currently undergoing a construction boom due to the award of several large projects such as a new financial centre, the two casino resorts and several shopping malls. Many apartments complexes in the city-centre are also being torn down to make way for taller and more densely built developments.


Genting International and sister company Star Cruises (SARC.SI: Quote, Profile , Research) won in December last year the right to build and operate Singapore's second casino resort.

Called Resorts World at Sentosa, the 49-hectare project will include a Universal Studios theme park, a giant oceanarium with 700,000 aquatic creatures, and six hotels with more than 1,800 rooms. The resort is scheduled to be completed in 2010.

Singapore's first casino site, a 20.6-hectare piece of waterfront land at Marina Bay near the financial district, was awarded to Las Vegas Sands (LVS.N: Quote, Profile , Research) in May 2006.

Singapore legalised casino gaming in 2005 as part of ambitious plans to double visitor arrivals to 17 million by 2015.

1 November 2007

AFP
Genting pumps more money into Singapore gaming project

SINGAPORE (AFP) ?Genting International will spend an extra 800 million Singapore dollars (555 million US) on its massive gaming resort in Singapore partly due to rising building costs, the Malaysian company said.

In a statement late Tuesday, Genting said additional investments were also required on six new attractions at the Resorts World in Sentosa, including a roller coaster at Universal Studios theme park.

Genting International, which is part of Malaysian gaming conglomerate Genting Berhad, had originally budgeted 5.2 billion dollars for the resort on Sentosa island.

The additional 800 million dollars would include a provision of 250 million dollars for contingency expenses, it said.

Resort World's chief executive Tan Hee Teck said the additional cash would better prepare the company to ride a projected tourism boom from Asia's fast growing economies, particularly China and India.

"We are bullish in our visitor arrival projections," said Tan. "With the economies of China and India growing at unabated speed, we expect to see visitors who will spend more."

Construction started in April on the 49-hectare (121 acre) site and the resort is on track for a soft opening in early 2010.

Like Las Vegas Sands, which is building Singapore's other gaming resort, Genting has been affected by higher construction costs amid a boom in the property sector.

Material costs have shot up partially as a result of Indonesia's restrictions on sand and granite exports, key materials for the city-state's booming construction sector.

Singapore expects the two integrated gaming resorts to attract an additional two to three million visitors to the city-state.

Singapore in 2005 lifted a ban on casinos in a bid to attract more tourists, but other countries in Asia are also moving to liberalise their gaming laws and the southern Chinese enclave of Macau has become one of world's top casino draws to rival Las Vegas.

9 October 2007

The Star
Native American tribe to honour Goh Tong for his help

A number of customs that are only extended to our own people have been and will be bestowed on Goh Tong to mark his passing... MICHAEL THOMAS
GENTING HIGHLANDS: The late Tan Sri Lim Goh Tong’s legacy does not only live on in Genting, but halfway round the world in the Native American tribe of the Mashantucket Pequot.

Unknown to most Malaysians, in 1991 the late Goh Tong helped the tribe ? that was struggling to grow cabbage ?by investing in their idea of building a casino, the Foxwoods Resort & Casino, which has now become the largest casino in the world.

The chairman of the Mashantucket Pequot Tribal Nation, a sovereign nation within the US located in the state of Connecticut, Michael Thomas said the tribe owed a great deal to Lim for his vision and his confidence in them.

“When we wanted to start the casino, we approached 23 lending institutions who all turned us down because there was no guarantee we would pay back the loans,?he said.

As a result of a meeting with the business partner of Tan Sri Lim Kok Thay, Nicky Brown, Thomas and his tribe were introduced to the late Goh Tong who turned out to be the only one who would help them.

“He heard about our situation and actually came to our place to meet our people and see for himself what we were about and what our values were,? he said after meeting with Lim’s family for over two hours at the wake yesterday.

“Within 48 hours of meeting us, he agreed to give his support in the form of a US$$60mil (RM200mil) investment,?he said, adding that Americans widely credited the Pequot tribe for opening the doors for hundreds of other Native American tribes to open their own gaming centres.

Thomas said the success of the Pequot tribe, together with another Native American tribe, now created USS$2.7bil (RM9.02bil) in revenue for the Connecticut state government from “taxes?levied from their slot machines.

Thomas, who led a nine-man delegation from the US, arrived yesterday without some of his luggage as it had been delayed, apologised for his informal dress and said that he would be dressed in traditional attire when giving a eulogy at Goh Tong’s funeral today.

“A number of customs that are only extended to our own people have been and will be bestowed on Goh Tong to mark his passing,?he said.

Thomas said this included all buildings in the nation flying their flag at half-mast for a week, while a sacred stone called Wampum which is sourced from a clam called the Quohog would be given to the family.

“The stone is valuable because it is usually only given to our leaders,? he said.

Thomas said it was important for the world to know that it was the faith Goh Tong had in them that allowed them to succeed beyond their wildest dreams.

Pequot tribe vice-chairman Kenneth Reels said Goh Tong’s help allowed their nation to be self-sufficient while creating some 10,000 jobs there.

“As a nation, if you have to be dependent on somebody else then you are not exercising sovereignty to the fullest.

“He has enabled us to do that. We are here today because we feel it is appropriate to pay our respects to someone who gave respect to us.?

“He is part of our history and we have a family relationship that we will cherish forever. His family is part of ours as ours is part of theirs.?

5 October 2007

The Edge Daily
Genting's Goh Tong passes away

KUALA LUMPUR: Genting Bhd group founder and honorary life chairman Tan Sri Lim Goh Tong, who built the hilltop casino resort, passed away this morning after a brief illness at the age of 90.

His son Tan Sri Lim Kok Thay, who is chairman and chief executive of Genting, said in a statement: "On behalf of my family and the Genting Group of companies, it is with great sadness, I announce that my beloved father, founder and honorary life chairman of Genting Bhd Tan Sri Lim Goh Tong, passed away peacefully at 11.20am today."

Lim is survived by his wife Puan Sri Lee Kim Hua, six children and 19 grandchildren.

Starting as a carpenter after arriving in then Malaya from Fujian, China, in 1937, Lim's success story came from turning a hilltop into world-class casino resort. Today, the Genting group has diverse activities in plantations, properties, power generation, oil and gas, electronic commerce and information technology development.

On the demise of Lim, the president of The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and Lion Group chairman Tan Sri William Cheng said: “He is a model of success, starting from scratch. His achievements came through hard work and dedication.?

CIMB Group chief executive Datuk Nazir Razak said: “Tan Sri Lim’s skill, tenacity and foresight in business has led the Genting Group to where it stands today, a thriving conglomerate of international standing. We have lost one of the country’s foremost entrepreneurs but his legacy lives on.?

Lim’s path to riches was not an easy one, as he underwent tremendous hardships during the Japanese occupation in Malaya.

He took many jobs ?including selling vegetables and being a petty trader ?before embarking on sale of scrap metals and used heavy machinery that led him to venturing into the lucrative mining industry.

His family construction company, Kien Huat Private Ltd, then took on contracting jobs with the help and guidance of his uncles, securing many major projects.

Among the biggest projects the company completed was the Ayer Itam dam, the first time a construction job of such a magnitude was given to a local contractor.

In April 1965, Lim set up Genting Highlands Bhd with the late Tan Sri Mohammed Noah Omar, which then successfully obtained approval for the alienation of 4,858ha and 1,133ha of land from the Pahang and Selangor state governments respectively between the years 1965 and 1970.

These parcels of land was the start of Lim’s hotel and casino empire, beginning with its Highlands Hotel that was completed in 1971.

Lim started his casi72"

The Straits Times
Got what it takes to swim with the sharks?

Unusual and exciting jobs opening up in tourism; WDA casting net wide to train more
By Keith Lin & Goh Chin Lian

SINGAPORE is stepping up its efforts to train people for jobs in the two integrated resorts (IRs), due to open in three years' time.

Mr Ong Ye Kung, chief executive officer of the Workforce Development Agency (WDA), told The Straits Times yesterday that the agency wanted to prepare existing workers for new job opportunities in the tourism sector.

'We will make special efforts to reach out to the economically inactive, including back-to-work women, retired workers and the unemployed,' he disclosed.

The WDA will release details of the total number of such workers it is seeking to train towards the end of the month.

Since June last year, about 3,500 people have completed WDA-sponsored training to work in the tourism industry. The sector is set to create 60,000 positions, one-third of which will be generated by the IRs.

Some of the jobs are rarely seen in Singapore. They include swimming with sharks, operating a roller coaster and dealing cards at a casino gaming table.

Although many of the jobs on the WDA list are for less-skilled workers without high academic qualifications, the agency has seen a mound of applications from better-qualified people.

For instance, 37 per cent of students at the Tourism Management Institute of Singapore have tertiary education. The proportion hits 45 per cent at local culinary school at-sunrice.

At the Singapore campus of the University of Nevada, Las Vegas, which offers degrees in hospitality, such students form 74 per cent of the student body.

These newcomers to the tourism industry are a cut above the existing 150,000 workers, only about 30 per cent of whom have tertiary education.

The WDA sees their entry into the industry as a sign that the image of tourism professionals is improving. 'The general perception of service jobs is that of low pay, low skill with limited career progression,' said WDA's tourism division head Teo Sio Hoon.

'On the contrary, there are tremendous opportunities in the tourism industry with good career progression.'

Mr Nazrul Johari, 24, who attended a customer interaction course last year, is now more confident bantering with his guests.

Said the ride operator at the Escape Theme Park in Pasir Ris: 'I hope to become an amusement park manager.'

To spark Singaporeans' interest in the IR jobs, the WDA will hold roadshows and career talks and place advertisements showcasing tourism workers on buses and in newspapers. One of its targets is people working in other sectors.

Said Ms Teo: 'Sectors, such as manufacturing, are shedding jobs. We want to help those who are affected transit to tourism jobs.'

Also on the WDA's radar screen are retirees and stay- at-home mums. Genting's Resorts World at Sentosa, one of the IRs, is keen to tap them, the handicapped and former prison inmates.

'We pride ourselves as a fair opportunity employer,' said its human resources director Seah Ee Boon.

It plans to recruit for key positions next year and expects to hire more than 10,000 workers by 2010. Ms Seah said:

'We want people with an innate passion and motivation to serve and have fun at work.'

The WDA's training efforts are not linked to courses offered by private schools here on casino management and for those interested in becoming croupiers.

10 October 2007

Business Times
Reality bites Resorts World at Sentosa

MARK Burnett - creator of reality TV shows like Survivor and The Apprentice - has tied up with Genting International to produce TV and game shows for the region.

Speaking at a tele-conference yesterday, US- based Mr Burnett, president and founder of Mark Burnett Productions, said that filming for the first show could begin as early as next year.

Based at Resorts World at Sentosa, the firm will use the resort's attractions and facilities for some of its productions.

A joint-venture company called Mark Burnett Productions Asia (MBPA) will be formed, with the two partners holding equal equity and investing up to US$20 million together.

The two partners were brought together in June by the Singapore Economic Development Board (EDB).

Manohar Khiatani, assistant managing director of EDB, said: 'This decision underscores the attractiveness of Singapore as a location where leading media content owners create and manage their intellectual property assets.'

He said MBPA would reinforce the government's efforts to build Singapore into an international media hub.

Mark Burnett International and Genting International will team up on a 10-year exclusive partnership to develop, produce and distribute reality TV series and game shows for the region. The partnership covers all of Asia except Japan and the Middle East.

Mr Burnett said: 'We've been doing business in and around Asia since our company was founded and we've been looking at ways to do more in this massive market.'

Besides producing TV for Asia, MBPA will hold an exclusive licence to produce and distribute these programmes to multiple media platforms that range from broadcast, the Internet and mobile television.

The company will also develop original TV shows for Asia that will be licensed for format productions worldwide.

Mark Burnett Productions has already made forays into other markets. Scot Cru, executive (international), Mark Burnett Productions, said: 'Having recently launched Mark Burnett Productions France, this is a natural evolution of our worldwide brand.'

He added: 'The fact that this deal was fast-tracked and took a very short time to negotiate is evidence of both companies' recognition that it is a partnership that both companies felt was a no-brainer.'

10 October 2007

New York Times
Reality TV Producer Forms Asian Venture

SINGAPORE ?The reality TV impresario Mark Burnett has formed a 50-50 joint venture with the gambling group Genting International to develop, produce and distribute game shows and reality television series in Asia.

The two partners said they would invest $20 million as part of a 10-year exclusive partnership that covers all of Asia excluding Japan.

Besides possible Asian versions of Mr. Burnett’s popular American shows “Survivor?and “The Apprentice,?the venture could develop original programs for the international market, Mr. Burnett said. He said the joint venture would most likely start production for its first show early next year.

Genting International is a unit of the Malaysian conglomerate Genting, which is building a $3.4 billion casino on the Singaporean island resort of Sentosa. The casino, which will also have a Universal Studios theme park, is expected to open by 2010.

9 October 2007

Variety Asia Online
Mark Burnett launches Asian branch in Singapore

Mark Burnett is betting big on Asia, pacting with casino and resorts giant Genting Intl. to launch a $20 million joint production venture.

Asia will produce original content for Asian broadcasters and license those formats in markets around the world, including the U.S. The TV venture, the first for Genting, marks the latest overseas expansion for Burnett, who last year launched an outpost in France.

The new company will be based at Resorts World at Sentosa, a $5 billion mega-resort being built by Genting in Singapore and set to open in 2010. The complex will house a Singapore outpost of the Universal Studios theme park, a marine park and film production studios -- all of which will be utilized by Mark Burnett Prods. Asia.

Partnership has been constructed as a 10-year agreement, with both parties holding equal equity in the venture and agreeing to invest up to $20 million in the project over its life. It covers all parts of Asia save for Japan and the Middle East.

"We've been doing business in and around Asia since our company was founded, and we've been looking at ways to do more in this massive market," Burnett said. "Shortly after our first meeting with Genting, we felt like we had found the perfect company to partner with, not only to bring our existing library to the territory, but also to develop and produce original content that will be of interest to television viewers throughout Asia."

C. Scot Cru, who heads international production for Burnett, is spearheading the company and will work with his Genting counterparts to find a CEO. He said it took less than three weeks to hammer out the specifics of the pact. "It's a great marriage of our skillsets and theirs," Cru told Daily Variety. "We think it's going to rock the production community in Asia."

Cru said Genting gives MBPA "extensive contacts and knowledge of how to do business in Asia," a vital asset given Burnett's desire to do more than just sell pre-existing shows to countries. "We're not just looking to license things; we want to produce them as well," he said. "We need to have partners in order to understand the market."

With France and Asia spoken for, Cru said Mark Burnett Prods. will continue looking for international expansion opportunities. "We definitely have the U.K. on our radar," he said. "We think strategic partnerships work well."  That said, "We're not going to be running around the world like Johnny Appleseed," Cru added. "We're going to try to be very strategic."

Burnett is no stranger to Asia. Current edition of "Survivor" lensed in China, making it the first American TV production to be completely produced in that country. "We had such a positive experience with 'Survivor: China' that it made us look at Asia more closely," Cru said.

Lim Kok Thay, exec chairman of Genting Intl., said the teaming with Burnett will be a key part of the company's new Singapore mega-resort. Expectation is that visitors will be able to participate in gameshows produced by Mark Burnett Prods. Asia or watch shows as they're produced.

"This partnership boosts Resorts World Sentosa's already rich entertainment offerings and will draw many more visitors to the resort when it opens," he said.
 
Deal was sparked in part by the Singapore Economic Development Board, which first put Burnett's camp in touch with Genting back in June.

1 October 2007

TODAYonline
Icon to open office in S'pore
Moshe Safdie aims to hire mid-level and senior architects too

He has worked on projects in Singapore since the 1980s, but it is one of the world's costliest casino-resorts to date ?the Marina Bay Sands integrated resort (IR) ?that prompted famed architect Moshe Safdie to set up an office here.

"We're responsible for an estimated US$4 billion ($5.9-billion) project and that requires a lot of presence here. The incentive for setting up this office is definitely this project," he told Today in a phone interview last week.

Mr Safdie has some 60 people working on the IR in Boston who communicate through "every technological means available".

"You can't do this long-distance. We're building mark-up samples, meeting with the engineers and Government agencies. You have to do all this on location," said the 69-year-old.

Las Vegas Sands president and chief executive officer William Weidner remarked in August that development costs for the IR could go up by "20 to 40 per cent" of its original US$3.6-billion tab ?or by as much as US$1.44 billion.

Moshe Safdie and Associates (MSA) currently has offices in Boston, Jerusalem and Toronto. The new Singapore office will have between 15 and 20 people, Mr Safdie revealed, including "half a dozen" of people who have made the move here from the Boston office.

"Even I have an employment permit," he quipped.

Mr Safdie, who did not reveal the location of his office, said that MSA is currently on the lookout for mid- and senior-level architects with a minimum of eight years' experience.

The company placed a job advertisement in the local papers about two weeks ago, asking for resumes to be sent to an architectural firm based here.

Prior to the Marina Bay Sands, Mr Safdie's local portfolio includes two condominium projects, the Ardmore Habitat and The Edge on Cairnhill, and the Simpang new town.

Asked how his new office would impact the local architectural scene, the Israeli-Canadian ?who has a slew of international accolades under his belt ?pointed out that Singapore already has "very sophisticated architectural firms".

"We hope that we will be good neighbours," he said.

Welcoming the news of his local practice was Ms Rita Soh, the immediate past president of the Singapore Institute of Architects.

"Moshe has been working with many of us here for many years. We welcome all who do good architecture to participate in the making of Singapore's new skyline."
Moshe Safdie aims to hire mid-level and senior architects too.

Prior to the Marina Bay Sands, Mr Safdie's local portfolio includes two condominium projects, the Ardmore Habitat and The Edge on Cairnhill, and the Simpang new town.

Asked how his new office would impact the local architectural scene, the Israeli-Canadian ?who has a slew of international accolades under his belt ?pointed out that Singapore already has "very sophisticated architectural firms".

"We hope that we will be good neighbours," he said.

Welcoming the news of his local practice was Ms Rita Soh, the immediate past president of the Singapore Institute of Architects.

"Moshe has been working with many of us here for many years. We welcome all who do good architecture to participate in the making of Singapore's new skyline." Moshe Safdie aims to hire mid-level and senior architects too.

29 September 2007

CNNMoney.com
Ssangyong Engineering & Construction secured a contract worth 686 million US dollars with Las Vegas Sands Corp (NYSE:LVS) unit Marina Bay Sands Pte Ltd

Ssangyong Engineering & Construction moved up 750 won or 3.2 percent at 23,900 won on news that it secured a contract worth 686 million US dollars with Las Vegas Sands Corp (NYSE:LVS) unit Marina Bay Sands Pte Ltd, developer of a 3.5 billion dollar casino resort in Singapore's Marina Bay.

The South Korean builder said it will build three hotels for the resort.

Ssangyong Engineering said the deal is its largest ever overseas contract in terms of value.

5 September 2007

TODAYonline
xperts sought to advise problem gambling council

As construction on the two integrated resorts (IR) ramps up, the independent body set up to tackle gambling addiction is also beefing up its arsenal.

The National Council on Problem Gambling (NCPG) will expand to 19 members, including five new faces, to inject "more expertise" to the body over the next two years.

The five new members include retired High Court judge Goh Joon Seng and the Singapore Buddhist Federation secretary-general, Venerable Seck Kwang Phing. They join a diverse line-up ranging from business leaders to educationists and religious leaders.

Set up in 2005 to advise the Government, the NCPG also announced yesterday it was sourcing for an international panel of experts to advise the council on global trends, strategies and issues related to problem gambling.

NCPG chairman Lim Hock San said his council has its work cut out in three areas: To continue to raise public awareness; co-operation with the gaming industry; and research and data collection.

Fourteen gaming operators and key clubs operating jackpot rooms ?like Singapore Pools and the Civil Service Club ?have adopted the Responsible Gambling Code of Practice introduced in July.

Also, the NCPG has met up with Las Vegas Sands and Genting ?the two IR operators ?about three times, on the issue of responsible gambling, he told Today.

Since last year, over 250 social workers and related professionals have been given basic training on how to identify and refer problem gamblers ?a figure the NCPG hopes to increase. A referral protocol will also be developed on casino exclusion measures.

The NCPG is looking to beef up research and data collection on problem gambling in Singapore, so as to ensure that the strategies rolled out are "not barking up the wrong tree", Mr Lim said. It may branch into research, targeting specific groups like youth, the elderly and women.

20 September 2007

International Herald Tribune
Las Vegas Sands seeks record Singapore loan to construct casino in nation

SINGAPORE: Las Vegas Sands, the largest casino operator in the world by market value, is seeking a record loan in Singapore currency to fund construction of the first gambling house in the nation, three people familiar with the deal said.

The gambling firm hired eight banks including Goldman and locals DBS, Oversea-Chinese Banking and United Overseas Bank to arrange the 5 billion Singapore dollars, or $3.3 billion, borrowing, according to the people, who declined to be identified because the information is private.

Regulated gambling including casinos in the Asia-Pacific market will expand 15.7 percent a year to $30.3 billion in 2011, according to PricewaterhouseCoopers. Singapore will compete for Asian gamblers with Macao, the Chinese city that reaped 55.9 billion patacas, or $7 billion, gaming revenue in 2006, surpassing the Las Vegas Strip as the biggest casino market in the world.

"Asia will contribute the most to growth of the global gaming industry, and market share here is important for gaming companies and for Las Vegas Sands," said Poh Huay Imm, an equity specialist at Deutsche Bank's private wealth management group. "Las Vegas Sands's casinos in the U.S. are cash cows and will help fund its Asian expansion."

The Asia-Pacific region will by 2011 replace Europe, the Middle East and Africa as the second-biggest gaming market after the United States, PricewaterhouseCoopers said.

The other four arranging banks are Morgan Stanley, Merrill Lynch, Lehman and Citigroup. Las Vegas Sands could not be reached for comment, while the banks either declined to comment or could not be immediately reached.

In its efforts to lure visitors and triple tourism revenue to $19 billion by 2015, Singapore lifted a four-decade ban on casinos in 2005, pledging to license only two within 10 years.

The second casino will be on Sentosa Island, known for its golf courses, amusement park and beaches, and will be built by Genting International, a unit of the biggest casino operator in Asia by market value.

"It's a big gamble, clearly, and too early to tell if the returns will be good," said Lim Kok Boon, the chief investment officer in Singapore at Fortis Private Banking, which manages $9.5 billion of assets. "But duopoly is very attractive for casino operators in a developed market like Singapore."

Casino revenue in the Asia-Pacific region will double to $25.5 billion in 2011 from $12.1 billion in 2006, with 79 percent of the growth generated in Macao and Singapore, PricewaterhouseCoopers said.

Singapore will receive $2.2 billion in annual revenue from 2011 when both casinos are operating, PricewaterhouseCoopers said.

Part of the 5 billion dollars will be used to repay a $1.4 billion 12-month borrowing arranged a year ago, according to the people. The 5 billion dollar loan, maturing in seven to eight years, will be the largest ever made in Singapore currency, according to data compiled by Bloomberg. It will be backed by the casino.

The interest margin on the loan will be between 2 percentage points and 2.5 percentage points more than the swap offer rate on Singapore currency, according to the people. The three-month rate is fixed at 2.62 percent Thursday. That compares with the premium of 2.75 percentage points over the London interbank offered rate that Las Vegas Sands is paying on $3.3 billion borrowed last year for its Macao expansion, a loan that matures in 2011. The three-month Libor rate is 5.59 percent.

"Banks will likely create a syndicate to spread the risk," Lim said. "The collateral in the form of land and building will appreciate."

Second-quarter profit at Las Vegas Sands, run by Sheldon Adelson, a billionaire, fell 69 percent as interest payments on funds borrowed to expand in Asia more than doubled from a year earlier to $54.4 million.

The downtown Marina Bay resort of Las Vegas Sands, neighboring the business district in Singapore, will feature three hotel towers linked by a sky garden, restaurants run by celebrity chefs Charlie Trotter and Thomas Keller and an art-and-science center.

The casino company's debt is rated three steps below investment grade at Ba3 by Moody's Investors Service and an equivalent BB- by Standard & Poor's.

13 September 2007

The Business Times
Global Gaming Industry In Its Infancy: Adelson

More than gambling: Mr Adelson (left) receiving the Lifetime Achievement award from Mr Forbes yesterday

The gaming industry worldwide is 'still in its infancy' with a lot of room for growth, Las Vegas Sands Corp chairman and chief executive Sheldon Adelson said yesterday.

'Gaming has evolved from gambling dens into Disneylands for adults,' he told chief executives on the last day of the Forbes Global CEO Conference.

According to him, Asia has room for about 10 scaled-down versions of Las Vegas. 'I think the world is recognising that gaming is more than just gambling,' he said. 'It's one of the many elements of entertainment that adults want to enjoy.'

Las Vegas Sands won the licence to build and operate Singapore's Marina Bay integrated resort last year, beating three other contenders.

Yesterday, Mr Adelson was awarded the Malcolm S Forbes Lifetime Achievement Award by Forbes president and CEO Steve Forbes, who said he had revolutionised the gaming industry. Hong Kong tycoon Li Ka-shing was the first recipient of the award last year.

The gaming industry 'has evolved to the point where at The Venetian hotel-casino (in Las Vegas)... the casino represents only one per cent of the total amount of space in the building,' Mr Adelson said.

At the US$2.4 billion Venetian Macao, which opened last month in Macau, the casino takes up just 5 per cent of the total 10.5 million sq ft of space, he said. The rest is allocated to shopping, indoor sports and other activities.

Casinos used to be wall-to-wall, said Mr Adelson. They were gambling dens with no amenities. But Singapore's Marina Bay resort will integrate 'all the elements of entertainment.'

The Las Vegas Sands boss was ranked sixth on this year's Forbes billionaires list, with an estimated net wealth of US$26.5 billion.

Last month, the company's chief operating officer William Weidner said the Marina Bay resort, which is slated to open in late-2009, is now expected to cost up to 40 per cent more than projected. The cost was previously estimated at $5.05 billion, including $1.3 billion for the land.

Asked by an audience member yesterday why Sands chose Singapore to build a resort, Mr Adelson said: 'This will be a duopoly, and any place we can have a duopoly will be a very profitable but very high investment.

'We will have more space in our integrated resort than rooms like this in the top 30 or 40 hotels in Singapore combined. So we'll be able to see some 30,000 people simultaneously, which will attract the biggest meetings on Earth, which is primarily what the government wants.'

11 September 2007

Bloomberg
S'pore revving up

Casinos will help it shed its 'museum' image: PM
 
Singapore's two casinos, which will be completed by 2010 as part of integrated resorts in Marina Bay and Sentosa, will not dominate the city-state's diversified economy and will help the island shed its "museum" image, Prime Minister Lee Hsien Loong said.

"The casinos are not going to be Singapore," said Mr Lee in an interview with Bloomberg during the Asia-Pacific Economic Cooperation meeting in Sydney. "This is not going to be like Macau, where the casinos are the economy."

Singapore will also play host next year to what is likely to be Formula 1's first Grand Prix to be held at night ?part of its move to tap an increase in global travel.

"We are not a museum, we are a living city, we have to evolve," said Mr Lee. "This is not 1950s Singapore, this is Singapore in the 21st century. Our policies have to change."

The Government expects to double the number of overseas visitors to 17 million annually and triple tourism receipts to $30 billion by 2015.

Singapore, which will impose a $100 daily levy on citizens and Permanent Residents entering the casinos, is studying rules and procedures in countries where casinos are permitted to curb problem gambling, money-laundering and other vices, Mr Lee said.

Singapore's US$134 billion ($204 billion) economy is forecast to grow as much as 8 per cent this year, from 7.9 per cent in 2006. Last month Mr Lee forecast annual growth for the next five to 10 years of between 4 and 6 per cent.

"In the short term, we hope to be at the higher end of that range, maybe even do better if we are lucky," he said.

"If Asia is prospering and we make ourselves competitive, then we can grow in Asia."

China and India, the world's two fastest-growing major economies, are spurring growth around the region, he added. "This is an entire continent on the rise."
.
The region's developing nations are almost twice as reliant on exports as the rest of the world, with 60 per cent of their sales abroad ultimately destined for the United States, Europe and Japan.

While Singapore's expansion is not as dependent on US growth, the island still isn't "decoupled" from the world's largest economy, said Mr Lee. "We are a little less dependent ?If the US economy goes down, it will still affect us, but we are somewhat buffered." ?BLOOMBERG

5 September 2007

TODAYonline
Will costs of Sentosa resort shoot past S$5.2b?

SINGAPORE: While the contracts awarded have been within budget, Resorts World at Sentosa (RWS) said it would only know in about a month's time if its projected S$5.2 billion development bill needs to be topped up.

Final drawings for the 49-hectare site are not complete and numbers are still being crunched. As such, RWS "has not arrived at the stage of the final costing", its spokesman Krist Boo told TODAY.

Last week, Las Vegas Sands president and CEO William Weidner had said the Las Vegas-based gaming operator - which is developing the Marina Bay Sands integrated resort, slated to open in late 2009 - was "struggling" to stick to its US$3.6 billion (S$5.5 billion) budget, and anticipated a "20 to 40 per cent" spike in it.

Days later, Trade and Industry Minister Lim Hng Kiang urged construction industry players not to push up their tender prices on the assumption that increased costs of building materials would persist.

On 4th September, RWS said more than S$600 million worth of contracts that have been awarded stayed "within cost projections". These include road diversion works, reclamation and a 4,100-lot basement car park, work on which began two weeks ago.

Las Vegas Sands, too, has already awarded some S$700 million in contracts and is expected to unveil the winner of an S$1 billion contract to build its three 50-storey hotel towers soon.

Building work on RWS' Universal Studios Singapore - the first Universal Studios theme park in South-east Asia will start in October.

Similar works for its first two hotels, Maxims Residences and Hotel Michael, are slated to follow in February. In the pipeline, too, is the call for two construction tenders over the next four weeks, following one earlier this week.

RWS will award the first of these three tenders - worth over S$1 billion in total - in January. It is targeting a soft opening in early 2010.

30 August 2007

Channel NewsAsia
Las Vegas Sands Optimistic About Marina Bay Integrated Resort

Hong Kong: The Venetian Macao which opened on Tuesday, will give a taste of what Singapore can expect when its very own Marina Bay Sands integrated resort opens in 2009.

Both projects are developed by US-based Las Vegas Sands, which is aggressively expanding its presence in the Asia Pacific.

More than just gaming, Sands is eager to draw more convention and exhibition business to this region.

Las Vegas Sands is confident that its integrated resort at Marina Bay will open as scheduled in late 2009, even though construction costs may escalate by up to 40 percent due to sand supply and refinements to the original design.

Will Weidner, president of Las Vegas Sands Corp., said: "We'll build the building substantially the way it was presented in the model. We're looking for means and methods to construct it more effectively. Obviously, if you can pour the concrete faster, the period of time needed is shorter as well; the labour costs (will also be) lower."

Sands appears to be riding the crest of the wave with the opening of the world's largest casino in Macau.

It hails the Venetian as a showcase of what Marina Bay promises to be ? plenty of shops, events and entertainment.

Already, Sands is seeing what it calls "phenomenal" interest in the retail space at Marina.

Sands has been talking to over 500 parties representing more than 1,000 brands.

Its 100,000 square metre of convention centre or roughly 11 football fields has already confirmed up to 20 major international events, rolling as far ahead as 2013.

The exhibition space offered by the Venetian Macao dwarves what Hong Kong has to offer in terms of exhibition space.

There is already plenty of competition in the region, but a similar sized venue in Singapore is proving to be double-sell for Las Vegas Sands.

Sands is bullish about the Marina Bay project, saying there are already infrastructure and efficient transport links in place, which will help the resort get off to a booming start. - CNA/so

29 August 2007

Channel NewsAsia
Lian Beng wins S$58.5m deal for Marina Bay Sands IR project
     
SINGAPORE : Main-board listed Lian Beng Group has clinched a S$58.5 million contract for construction works at the Marina Bay Sands Integrated Resort.

Under the terms of the contract, Lian Beng will provide a wide spectrum of services related to the construction of the basement of all three towers of the hotel parcel.

Work on the project will be carried out in two phases.

This is expected to be completed within 22 weeks.

With this latest contract, the building construction company's orderbook now stands at about S$375 million. - CNA/ch

9 August 2007

The Business Times
Marina Bay IR to cost more than the US$2.4b Venetian Macao

Gaming and resorts operator Las Vegas Sands' newly opened US$2.4 billion Venetian Macao in the Chinese territory may be the biggest single structure in Asia, and it may be the second biggest building in the world.

But its Marina Bay Sands (MBS) integrated resort in Singapore will be more expensive - especially now that costs could escalate by as much as 40 per cent to hit some S$5.2 billion, or about US$3.4 billion.

Speaking at a press conference here yesterday at the official opening of the Venetian Macao, Las Vegas Sands COO William Weid-ner said that it had been 'struggling to stay on budget', but rising construction costs coupled with the refinement of design on the complicated curving structure of the hotel towers is likely to push up the overall cost of the Singapore project by between 20 and 40 per cent.

Sands beat three other bidders in a hard-fought campaign last year to clinch the licence for the Marina Bay integrated resort. The cost of MBS had previously been estimated at S$5.05 billion including S$1.3 billion for the land. Taking away the land value and factoring in a 40 per cent rise in project cost, the Marina Bay resort could come to about S$5.2 billion.

Mr Weidner was nevertheless optimistic about the opening date of the Singapore project. 'If we keep our noses to the ground, we can open in late 2009,' he said.

So far, Sands says it has awarded S$700 million in construction contracts for the Singapore project. A S$1 billion contract will soon be awarded to build the hotels.

Mr Weidner said that Sands was in discussions with the Singapore government on construction costs but did not disclose details. 'The government knows where we stand,' he said.

Unlike most casino business models, Sands will also depend on the meetings, incentives, conventions and exhibitions (Mice) business.

Giving an update, Mr Weidner said it has currently 20 major events booked at MBS up to the year 2013. For the Venetian Macao, 44 major events have been booked for the next two years, with the largest expected to attract 30,000 visitors.

But Mr Weidner does not expect the North Asia market to eat into the South Asia market. He added: 'When they see what is available (at the Venetian Macao), it will be much easier to sell Singapore.'

Selling Macau as more than just a casino destination has not been tested in the Chinese territory but Sands hopes to attract visitors to extend their stay with attractions that include a 15,000-seat arena, a US$150 million Cirque du Soleil show and a one million sq ft mall with 350 shops.

The number of visitors to Macau has been increasing; up to 26 million people are estimated to visit the territory this year.

Indeed, demand for travel to Macau has become so intense that the Chinese government decided to place some travel restrictions on its nationals earlier this year.

Macau has benefited from a surge in mass market players from China and, interestingly, Sands' first casino in Macau - the smaller Sands Macao - was targeted largely at this market. It was so successful that it recouped its investment within a year.

The much more expensive Venetian Macao will be targeted at the leisure and Mice segment. Although Mr Weidner would not say when it would break even, he said it expects a yield of over 20 per cent per year on its investment. He added that Sands could sell some of its assets, including the mall.

Sands will also be looking to grow its premium-play segment which currently makes up 60 per cent of its gaming revenue.

Another strategy is to expand within Asia.

Also speaking at the press conference, Sands CEO and chairman Sheldon Adelson said that it would open other integrated resorts in Asia if allowed. But he added: 'This is not a race.'

Noting that China alone hosted 60 million Mice delegates in 2003, Mr Adelson said, 'There are only so many events you can hold in one building.'

29 August 2007

Channel NewsAsia
Sands IR: The glitz, the glamour, the swelling cost

SINGAPORE: At US$3.6 billion (S$5.5 billion), it was touted as one of the costliest casino-resorts ever, out-glitzing even the newly-opened Venetian Macao.

Now, the development bill for the Marina Bay Sands integrated resort (IR) could swell further - by as much as US$1.44 billion.

A spike in the cost of building materials, sparked by the Indonesian sand ban in January, as well as refinements to development's design, could push up the tab by "20 to 40 per cent", Las Vegas Sands president and CEO William Weidner told the Singapore media visiting Macau on 28 August.

Said Mr Weidner: "My cost people keep on discussing concrete and some of the sand issues that you all face in Singapore. We're struggling, quite frankly, to stay within our budget."

"It's a very, very complicated and sophisticated building... as wonderful as the idea is, now that we try to execute it in concrete and steel, it's a bit of a challenge. But we'll get there. We�re looking for means and methods to construct it more efficiently."

Back in February, when construction on the IR began, the casino operator was hopeful the sand supply issue would be a "temporary glitch" and that the Singapore Government would find a long-term solution.

The Las Vegas-based operator meets regularly with the Republic's authorities. Said Mr Weidner: "There are several issues that still need to be resolved."

Some S$700 million worth of contracts have been awarded. A whopping S$1-billion contract to build the IR's three 50-storey hotel towers - which will go to a multi-national corporation - will be announced soon, revealed Marina Bay Sands' vice-president George Tanasijevich.

The IR is due to open in 2009 and already, talks are ongoing with organisers to host about 20 major events up to 2013, he added.

Sands was the first foreign player to enter Macau's gaming scene in 2004.

The US$265-million Macao Sands got its money back - and more - by raking in US$400 million in revenue within a year.

So, is Las Vegas Sands expecting its latest property - the US$2.4-billion Venetian Macao, touted as the world's second-largest building - to break even within 12 months? More like five years, Sands' billionaire chairman Sheldon Adelson told AFP.

More than 3,000 guests and 1,200 media turned up for Tuesday's star-studded opening of the Venetian Macao, which is modelled - on a larger scale - on Sands' The Venetian in Las Vegas, complete with canals, gondolas and a fake sky.

In addition to more than 850 gaming tables, there are 3,000 luxury suites, a 15,000-seat stadium and 350 shops. The new resort reportedly employs 5 per cent of the territory's workforce of 450,000.

In the crowd was Singapore Tourism Board deputy chairman and chief executive Lim Neo Chian, who described the new resort as "very impressive". He said: "By the time the Marina Bay Sands IR opens in Singapore, Las Vegas Sands will have invaluable experience and insight into the Asian market - enabling them to make Marina Bay Sands, which is very different in design to their two Macau resorts, an even better proposition."

The Venetian Macao is the first casino built on the Cotai Strip, a complex of hotels that will have more than 1 million sq ft of gambling space, 3 million sq ft of retail and almost 20,000 hotel rooms.

With the target being the huge numbers of nouveau riche gamblers who pour daily across the border from mainland China, Mr Weidner announced plans for a Las Vegas Sands ferry service from Macau to Hong Kong and Shenzhen on 28 August. A new terminal is being built near the Macau airport, as are 10 new ferries that will cast off between October and March.

Last year, gaming revenues in Macau totaled US$7.2 billion - overtaking the Las Vegas Strip for the first time.

7 August 2007

The New Paper
Exclusive first look at Sentosa's IR party strip to rival Las Vegas

Think Sentosa and sun, sand and theme park come to mind.
24-hour Festive Walk to include world-class dining performances

3 ZONES OF FUN!
You can watch some of the world's best public performances for free at the Festive Walk. But shopping? Yes, that will be one of the attractions when the Resorts World at Sentosa opens in 2010. It will have a collection of flagship concept stores, including swanky fashion outlets, The Universal Store and London's famous toy shop Hamley's that is known to draw about five million customers annually. The shopping belt will be located at the Festive Walk, the 'spine' of the integrated resort (IR), which is about the size of 50 football fields.

Giving The New Paper on Sunday an exclusive preview of project, MrTan Hee Teck, Resorts World chief executive, said: 'The Festive Walk is what we call the 'spine' of the resort. This is where our guests congregate to dine, shop and watch some of the world's best public performances for free. It will be Sentosa's very own 24-hour Strip. 'The Strip refers to the famous 6.7km entertainment district in Las Vegas, where the hotels, casinos, shows, nightlife and the shopping belt are located.

At the Festive Walk, visitors will be treated to an array of audio-visual performances. When they stroll along the walkway, they will be enthralled by music from the waterfront. The skies will be set ablaze with fireworks and two animatronic cranes will dance in a multi-media show. Near the waterfront, roving acts will entertain diners at more than 20outlets offering choices from fast food to gourmet cuisine by world-class chefs. Not far away, a parade of street performers will welcome visitors at what will be called the Bull Ring, when they arrive by coach.

As in Las Vegas, the festivities will continue into the night. At the Festive Walk, a variety of nightspots will draw the party crowd till the early hours.

The New Paper on Sunday understands that the resort has been in talks with potential business partners, including nightlife operator Dennis Foo, 54, CEO of St James Power Station. During the day, visitors will be able to chill-out at the waterside cafes and watch the street performances. The Walk will host seven daily performances developed by Jeremy Railton, an Emmy-award winner who was behind the 2002 Winter Olympics Games ceremonies in Salt Lake City. And among the world-class shows at Resorts World will be Le Vie (Life) produced by Mark Fisher, a member of the core team that created Cirque du Soleil's blockbuster, Ka. There will be no admission charge to the Festive Walk, said a Resorts World spokesman. And there will be an array of non-gated shows at Imagineering, a 1,714-seat theatre featuring water, lights and pyrotechnics.

NON-STOP ACTION
Mr Tan added: 'The action never stops at the Festive Walk. In the day, you can lunch, shop and catch the performances. When the sun sets, visitors can watch the breathtaking light shows and unwind at one of the many watering holes. 'The Festive Walk cuts through the tropical-themed resort, dividing it into the East and West Zones. There will be more than 10 attractions, including four gated ones - Universal Studios, Marine Life Park, Equarius Water Park and the Maritime Xperiential Musuem. The East Zone will be taken up by the Universal Studios theme park. When completed, it aims to draw five million visitors annually to 22 attractions. At least 16 rides will be designed for Singapore.

In the West Zone, the Equarius Water Park will feature a 450m flume winding round the treetops. There will also be the Marine Life Park, the world's largest oceanarium and the six-star Espa spa and wellness retreat.
The Central Zone, where the Festive Walk is located, covers the largest area.

There will be a total of 1,800 rooms in six hotels, four of which will be built here. And the casino will be in one of these - Maxims Residences. The other two hotels will be in the West Zone. Mr Tan of Resorts World said: 'Not all the hotels are positioned in the premium tier. We expect Maxims Residences, Hotel Michael and Espa Villas to serve guests who demand luxurious accommodation. 'The others - Hard Rock Hotel, Festive Hotel and Equarius Hotel - will have rooms for those who want comfortable and affordable themed-accommodation.'

Built at a cost of over $5 billion, Resorts World at Sentosa is expecting to draw about 15 million visitors annually from 2010. And with the opening of the Marina Bay IR in 2009, Singapore is on track to reach its 2015 target of 17 million visitors and $30 billion in tourism spending annually.

Mr Tan said: 'We are now building the resort's foundation and substructure that will house a basement carpark for 4,100cars. This phase is on track for completion in mid-2008. 'We are on schedule and we expect to open in the first quarter of 2010.'

27 August 2007

The New Paper
Brains Behind IR Construction Is Beauty Queen

Amid the rubble at the construction site, a red jacket stands out. As you turn your gaze upon it, you realise it belongs to a woman. Meet Mrs Gretna Yen. She is the only woman among three deputy project directors overseeing the construction of Resorts World at Sentosa. And this mother of five children - one aged 25, another 17, and a set of triplets who are 15 - is also a beauty queen. At 51, she is the reigning Classic MrsSingapore Worldwide 2007.

In November, she will take time off from work to represent Singapore in the International Classic Mrs Worldwide Pagaent in Minnesota. Mrs Yen told The New Paper on Sunday: 'Some of my colleagues tease me when we meet people. They say, 'You must meet Gretna. Do you know that she is our beauty queen?' 'They always crack me up.' But behind the girlish laughter is a sharp, articulate woman.

EXPERIENCED

Mrs Yen, who has been an engineer for more than 30 years, earlier worked on One Raffles Quay and the Marina Bay Financial District projects before she took on the job at Resorts World at Sentosa this year.

With 20 others in her team, the pint-sized beauty queen is overseeing the construction phrase at the Central Zone of Resorts World, which will house four hotels and the Festive Walk. She said: 'This project is challenging because of the size. We are also on a fast track as those on site are working 24/7.

'The other challenging factors include the shortage and cost of materials, depending on the current economy.'
As we stood near the main entrance of what will be Hard Rock Hotel in the Central Zone, she also explained the excavation process in detail.

But has she faced any form of discrimination in the male-dominated industry?

Mrs Yen laughed and said: 'Oh yes. When I started in the '70s, I was a civil engineer. There weren't many women in this line then. At that time, I was working on tunnels, sewage plants and anything underground. 'During one site visit, I was stopped from entering the tunnel while my male colleagues went in. 'I suspect it had a lot to do with superstition. From then onwards, I decided to build everything above ground. Besides, it is more satisfying to see the fruits of one's labour.'

It is a different story today. 'Women in this industry get equal respect,' she said. 'We know the job like the back of our hand.'

She works a 10-hour shift, but weekends are strictly reserved for her family. Her husband is a 52-year-old IT consultant. The family lives in a terrace house in Hougang. She joked: 'My kids will not let me answer my Blackberry phone over the weekends. They want to spend more time with me. 'My husband, on the other hand, does most of the cooking. He's much better in the kitchen than I am.'

Despite her hectic schedule, Mrs Yen has managed to squeeze in some time for charity work.

She hosted a Chinese New Year party for elderly residents at the Henderson Senior Citizen Home in 2005. In the same year, she was also a volunteer and organiser for the Women's and Children's Healthcare Foundation.

Asked if she is an over-achiever, Mrs Yen responded with a laugh: 'Well, you may say so. But it's a good feeling when you set out to do something and you do it well.'

20 August 2007

The Straits Times
TBWA Creative Agency For Resorts World

Resorts World at Sentosa (RWS) has announced TBWA will be the creative agency in charge of advertising for the $5.2 billion development set to open in 2010.

TBWA was chosen from a shortlist of five ad agencies to take charge of Resorts World.

At the moment, TBWA is responsible for several other big accounts in Singapore, namely Singapore Airlines and Standard Chartered Bank.

Resorts World plans to spend at least $70 million on both local and international advertising campaigns over the next three years.

RWS plans to market the resort as a destination where families can spend days visiting attractions such as South Asia's first Universal Studios and the world's largest oceanarium.

One of two Integrated Resorts to be ready in Singapore by 2010, Resorts World at Sentosa today unveiled its marketing plans with the announcement of its creative agency - TBWA, the same brains behind Singapore Airlines' new advertising campaign.

The agency will now also train its firepower to make Resorts World the top family holiday destination in the region.

The resort will be marketed overseas in the Asean region, China and India.

RWS will work closely with Singapore Tourism Board to penetrate emerging markets such as Russia, Eastern Europe and the Middle East.

Online, digital channels will play a key role in penetrating overseas markets.

TBWA will spend the next six months to a year planning its marketing strategy.

9 August 2007

AsiaOne
'Green' hands on deck at Resorts World at Sentosa

With a three-year completion deadline, it is literally all hands on deck at the site of the upcoming Resorts World at Sentosa (RWS).

Construction workers from three different contractors are operating on a three-shift, 24-hour, seven days a week schedule on the sprawling 49 ha site. This includes road diversion works, land reclamation and the building of a substructure basement that will hold 4,000 parking lots.

It was barely eight months ago when RWS won the award to build Singapore's second Integrated Resort (IR), and since then it has handed out over $430 million in construction contracts, with the next batch for the building above ground to be given out in the last quarter of this year.

The current team of some RWS staff in the corporate and projects sections has also moved into a 6,000 sq metres office building which rose from ground zero in a mere four months.

The facade of the five-storey block, consisting of two wings, is in the iconic style of RWS' architect Michael Grave, and houses a landscape courtyard, gym, and an employee lounge.

Despite the frenzied speed of development, RWS is taking a "green-handed" approach in conserving the surrounding environment of the $5.2 billion resort.

The northern shore of Sentosa, where RWS will be built on, is home to some 3,000 trees and a coral fringe - which the IR developer is taking great efforts to preserve or relocate.

RWS has already relocated 200 pieces of coral which would otherwise have been eradicated by land reclamation. About 12 per cent of the kilometre-long shoreline has a coral fringe - home to some 20 varieties measuring 30 to 50cm across.

During a three-week project undertaken by marine biologists from consultancy firm DHI Water & Environment, a representative sample of the coral population was displaced to the Southern Islands, in a bid to regenerate a complete ecosystem.

Ms Sonya Pans, Head of environmental management services at DHI, said that the hard corals were more likely to be chosen as they took twice as long to grow compared to the soft varieties. DHI will continue to monitor the corals over a year in its new home, whose location will be kept secret to prevent poaching.

Above ground, RWS has started relocating about 200 of the site's 3,000 trees to a temporary nursery, which will subsequently be replanted in about three years time.

Another 700 trees, including those in a 2.9 ha coastal forest located on the western edge of the construction site, will also be left untouched. Earlier this year, nature enthusiasts had appealed to developers to leave intact this coastal forest, which is home to a large number of rare Dragon Blood trees, and a roosting site for the Buffy Fish Owl.

About 300 trees that could not be saved are to be recycled for timber, and will return to the resort as furniture, souvenirs and construction structures.

RWS' conservation efforts will not come cheap - each tree costs about $2,000 to keep in the temporary nursery on Sentosa. A new tree would only cost a third of that price. However, as these transplated trees are fully-grown, they will provide ample shade for visitors the day RWS opens, compared to the cheaper alternative of younger saplings.

In keeping a balance between development and conservation, Mr Michael Chin, Director for Projects at RWS, said in an interview with the Singapore Tourism Board: "Taking on the green mantle is like steering a bullet train and trying to grow shrubs along the way.

"Conservation has to be a decision taken early, in the planning stages, not after the concrete has set," he added.

3 August 2007

The Business Times
Sembawang Bags $250m Genting Job

Resorts World deals worth $1.6b to be awarded by Q108

Genting International has awarded more than $600 million of contracts for its Resorts World Sentosa (RWS), with the latest $250 million deal going to Sembawang Engineers and Constructors (Sembawang).

Contracts so far have been for preliminary works including soil investigation, road diversion and procurement.

By the first quarter of next year, Genting expects to have awarded $1.6 billion of contracts, including three main building contracts.

It has also set up its own plant to supply concrete on site, which is seen as a measure to offset rising construction costs.

Sembawang CEO and president Alwyn Bowden would not comment yesterday on whether price was a deciding factor in its winning bid. The construction sector is in an upturn and Sembawang 'does not need to take huge risks in terms of time and escalation', he added.

In a statement yesterday, Sembawang - formerly a subsidiary of SembCorp Industries and now a member of India's Punj Lloyd Group - said that the contract was awarded 'following intense competition from other international consortiums'.

Mr Bowden reckons that about five other bids were submitted.

The win is especially gratifying as Sembawang beat international consortiums, he said.

'It further underlines that Sembawang's footprints can be seen in many places in the creation of modern Singapore over the past 25 years.'

Genting International has said that RWS will create 35,000 indirect jobs. And many of these are expected to be in the construction sector.

Mr Bowden said: 'It appears (Genting) was deliberate on including local firms in the bidding list.'

Sembawang's contract involves building a concrete raft foundation, basement and associated mechanical and engineering works for RWS.

He said that the contract is for phase one of RWS only and is expected to be completed by the middle of next year.

Asked if Sembawang will face any problems, he said that the RWS project is 'equipment intensive' but the company has lined up its equipment well in advance. Sembawang also owns 30-40 cranes, he said.

Sembawang is Southeast Asia's largest engineering and construction group, with projects in South-east Asia, the Middle East, China, India, Mexico and the UK.

In Singapore, it is working on a $650 million waste treatment project in Changi and a $350 million MRT project in the Alexandra Road area

6 July 2007

Channel NewsAsia
Sentosa corals to get new home as work on integrated resort begins
 
SINGAPORE: Corals from Sentosa's Northern coastline are being permanently moved to a new home, to make way for the construction of the integrated resort on the island.

To ensure a successful migration, marine biologists are assisting Resorts World at Sentosa in a major conservation project.

Galaxia and Turbinaria are two hard corals having to leave Sentosa which has been their home for some five years.

The corals will first be chiselled off rocks, placed in an underwater holding site and then transported to the Southern Islands.

But not all corals will make the move.

Sonja Pans, Head, Environmental Management Services, DHI Water & Environment, said: "Our divers must be able to carry them around, which limits the size of the corals, maybe to 30 cm, maximum 50 cm in diameter. "We chose them as well in terms of the suitability of survival rate, meaning how likely it is that the coral will survive... if they are really healthy, you want to take them."

Organisers say preserving corals like these means preserving a part of Sentosa.

Said Patrick Too, Deputy Director, Projects, Resorts World at Sentosa, "This is another one of our efforts for Resorts World to conserve whatever we can. We try to protect whatever's available right now, because this marine life is part of the heritage in Sentosa."

The coral conservation project complements the resort's tree conservation programme, to ensure the island's natural habitat is protected.

The coral project is expected to be completed by early August. - CNA/yy

5 July 2007

Channel NewsAsia
National Council on Problem Gambling rolls out code of practice

SINGAPORE: The National Council on Problem Gambling has rolled out a Responsible Gambling Code of Practice, targeted at existing operators and clubs which run jackpot rooms.

The code was launched at the inaugural Problem Gambling Conference on Thursday, with the aim of reducing potential problem gambling among customers.

The code contains practical steps to help operators curb problem gambling.

Dr Vivian Balakrishnan, Community Development, Youth & Sports Minister, said: "The real reason for coming up with this voluntary code was that even as we are fairly sure that we've set some good rules to regulate the two impending integrated resorts, there's been much feedback that we also need to look at the current operators... particularly those that provide gambling facilities, like... the slot machines, and the lotteries. These currently do not operate under a strictly enforced legislative framework."

Under the code, operators are urged to display notices to remind customers not to gamble excessively.

They should also provide problem gambling helplines.

"What I do need is to get the best operators and then let the public know who are these better or best operators, and that in turn will put peer pressure on the others to shape up and improve the practices," said Dr Balakrishnan.

So far, 14 operators, including Singapore Turf Club and Singapore Pools, have agreed to adopt the code.

Said Juliana Lim, Director, Corporate Social Responsibility, Singapore Pools, "This code formalises the things we've been doing previously, sets the national standards. The only change we expect is that the training of staff now will have to be in accordance with a training programme which they are also developing as well."

The National Council on Problem Gambling is working with the Community Addictions Management Programme at the Institute of Mental Health to design a staff training programme.

Singapore Turf Club has said it will have counsellors to re-train staff to spot potential problem gamblers.

The Council hopes to implement the code in the last quarter of this year.

Also on the cards by the end of the year is the setting up of an international panel of experts on gambling addiction research - to help the government chart effective policies.

20 June 2007

Bizedge.com
More upside for Genting  

K Investment Research sees more upside for Genting Bhd, whose share price has underperformed the Kuala Lumpur Composite Index (KLCI) by 11.7% year-to-date and 3.4% since announcing its successful bid at Sentosa, Singapore.

It said yesterday Genting's current valuations were undemanding at 19.1 times FY07 price earnings ratio (PER) compared with the global and regional peers' average PER of 26 times to 42 times FY07 PER. "We believe the market has underestimated Genting's fast expanding global casino footprint and efforts to unlock the value of its non-core assets," it said.

OSK Research said if the group's net cash/share of 39 sen and Resorts World at Sentosa estimated attributable value contribution to Genting of RM2.58 per share were stripped out, the market was valuing Genting's existing business operations at 11.2 times FY07 PER. It maintained a "buy" call with a target price of RM10.30.

The research house said the market had not priced in the quantum leap in earnings from Resorts World at Sentosa.

It expected Resorts World at Sentosa to generate a contribution of RM524 million net profit to Genting in FY2010 with an estimated 7% to 8% growth thereafter. This would provide a significant quantum leap to Genting's earnings by over 35%, accounting for 20%-24% of its 2010-2011 earnings estimates for the group.

"Additionally, we believe our growth assumptions are conservative (7% to 8% growth per annum), noting that new casinos in Macau has registered growth in excess of 100% per annum," it said.

OSK Research also said there was scope for the monetisation of non-core property assets. It cited that many major US casino companies have been able to maximise the value of their investments by capitalising on the development profits from property spin-off opportunities. For instance, Las Vegas Sands Corp recently capitalised on the steep appreciation of its properties by selling The Venetian's Grand Canal shops for approximately US$766 million (RM2.64 billion). "We think Singapore's robust property market, especially that on Sentosa Island, will provide similar future opportunities for the Genting group, providing upside for more efficient capital management. The group's existing property assets could also be injected into a REIT," it added.

OSK Research added that Genting was able to undertake numerous large scale projects concurrently. It added Genting's ability to finance potential future mega casino projects in the UK and the region remains intact. Genting's FY2010 estimated net gearing of 11.9% was way below major casino peer's net gearing range of 66%-389% and it would also benefit from a robust operating cash flow of RM2.6 billion per annum (inclusive of Sentosa).

15 June 2007

Today online
Families want problem gamblers banned from other gaming venues besides casinos

It was an exercise to gather feedback on how to bar problem gamblers from the upcoming two casinos, but some concerned families want other gaming venues which run into the hundreds here ? to be added to the list.

The Casino Control Act, which was passed by Parliament in February last year, “only covered exclusion orders for casinos? some family members of recovering problem gamblers had noted. Their views were reflected in a press release issued by the National Council on Problem Gambling (NCPG) yesterday.

Yet, much of the feedback also preferred problem gamblers to apply to bar themselves from the casinos, with family exclusion to “be exercised as a last resort?after all other options, such as counselling, having been exhausted.

According to the NCPG press release, “while family members of recovering problem gamblers welcomed family exclusion ?some were hesitant to apply for it. They expressed concerns that lodging an application might cause further conflict within the family and lead to divorce or estrangement from family members?

A spokesperson for Singapore Pools told TODAY that the option for self-exclusion “is already available?to customers of its Poolz-Connect, a telephone betting service. The operator “will review our procedure where appropriate? she added.

The NCPG said it agreed with suggestion to hire adequate numbers of trained social workers, experienced in gambling and family conflict issues, to help applicants of self- and family exclusions.

There are three types of exclusion measures under the Act: Voluntary self-exclusion, exclusion at the request of a family member and third-party exclusion. The last one means that the NCPG could prohibit a person from entering the casino, should he be on state-funded social assistance, have a poor credit record, a bankrupt or facing bankruptcy charges.

Mr Tan Kian Hoon, who chairs the NCPG’s public consultation sub-committee, said that work would start “immediately to install a simple yet rigorous system for the casino exclusions?

“However, what we would like to see is that self-help and family support always come first and exclusions would be the last line of defence,?he added.

While it “noted?the call to include noncasino gaming venues, the NCPG said it had initiated dialogue sessions to encourage the operators of such venues to voluntarily adopt self-exclusion measures, as part of a Responsible Gambling Code of Practice.

A draft Code was sent out in February to some gaming operators, such as Singapore Pools, the Singapore Turf Club and several private clubs with jackpot rooms. It is estimated that there are more than 100 private clubs housing more than 1,900 slot machines in Singapore.

Included in the Code is the need for operators to provide information on problem gambling and help services, as well as to train staff to identify problem gamblers.

In an NCPG survey on 2,000 people last year, one in two saw buying 4-D, Toto and mahjong as leisure activities ?even when thousands of dollars can be lost.

The Inland Revenue Authority of Singapore raked in $1.05 billion in betting duties from Singapore Sweep, 4-D and Toto between April 2004 and March 2005. The rate of betting duty for the three games is 25 per cent on gross collections.
 

14 June 2007

Channel NewsAsia
Problem gambling council urges adoption of exclusion measures

The National Council on Problem Gambling (NCPG) is in talks with gambling operators in Singapore to encourage them to voluntarily adopt self-exclusion measures as part of a Responsible Gambling Code of Practice.

Currently, the exclusion orders only serve to keep problem gamblers out of the casinos, which will open in about three years at the two integrated resorts.

But nothing stops a problem gambler from placing bets with the Singapore Pools or the Turf Club, or even having a go at slot machines in clubs.

According to feedback, the public wants these operators to put in place exclusion measures to narrow the options for gambling addicts or those trying to kick the habit.

The council says the various operators are receptive to letting individuals bar themselves from gambling at these establishments.

But nothing has been agreed so far and the council feels this might be difficult to implement.

More suggestions were thrown up during a month-long public consultation exercise via the REACH feedback portal and focus group sessions with recovering problem gamblers and their families.

Public views were sought on the operational procedures of the three types of exclusion orders - self-exclusion, family exclusion and third party exclusion.

Following feedback, the council will consider setting up a website or a phone enquiry system to allow people to check if they've been barred from the casinos under Third Party Exclusion. This typically applies to bankrupts and those who are on public assistance or have poor credit records.

Another area the council will look into is training social workers to be more aware of the exclusion measures.

This comes after feedback showed that they play a vital role in counselling and helping problem gamblers.

The public is also in favour of a more holistic approach, and viewed family exclusion as the last resort.

The council will explore setting up a 24-hour helpline to provide information on the exclusion orders and link up with other help services.

Details on the administration of the casino exclusion orders are expected to be out by the third quarter of this year.

13 June 2007
 
Channel NewsAsia
Resorts World at Sentosa launches tree conservation programme

When the S$5.2 billion (US$3.2b) integrated resort at Sentosa opens in three years' time, not everything will be brand new.

Its operator, Genting International, is launching a massive conservation exercise to protect hundreds of trees that are currently on its 49-hectare site.

Of the 3,000 trees on the site, one third are earmarked for conservation.

The trees that make the cut will be pruned and packed off to a temporary nursery - about 1.5 times the size of a football field ?located nearby.

So far one hundred trees have been transplanted and over the next few weeks Resorts World at Sentosa will transplant 200 more.

The trees will be replanted at the resort when construction is complete.

It will cost about S$400,000 (US$259,000) to maintain the trees over three years.

This is three times the price of buying new nursery stock.

But the operator says the mature trees will add to the tropical ambience of the attraction, and provide "instant" shade, lowering the temperature by up to 8 degrees Celsius.

Henry Steed, Landscape Architect, said: "Not only does the shade cool the air, it cools the ground so you don't have the heat coming off the ground.

"... the other thing about trees is that they suck up moisture and pump that moisture out at the top, which means there's an air current flowing up the top of the tree.

"... that means air will be drawn in underneath the tree and pass [upwards], which is why when you sit under a tree you'll find there's a slight breeze."

Most of the protected trees are about three to five metres high and between 20 and 25 years old.

They comprise 15 species, including Banyan trees, Rain trees, Palms and Khaya trees.

It takes two days to transplant a large Banyan tree, while smaller ones can be processed in half a day.

Experts say only mid-sized trees are transplanted. Those that are too big are unsafe to be moved and have a low survival rate.

Some trees that cannot be transplanted will be re-used.

The timber from some 300 trees of 10 different species will get a new lease of life as furniture, souvenirs, and even sign posts at the new resort.

This recycling project is expected to cost about S$300,000.

Said Patrick Too, Deputy Director of Projects, Resorts World at Sentosa, "Doing the souvenirs, this is another cost for us. We've not cost it [yet], but it's probably another chunk of money.

"It actually involves a lot of cost for Resorts World, not only just to put them in the mills or in the nursery... [but also] the cost of putting them back. Each of these trees... involves a few tonnes, so the machinery to bring them around... is a big task."

Separately, a 2.9 hectare forested area will also be conserved and protected from heavy engineering works.

The operator is currently studying various minimal-impact construction measures such as light-weight structures and suspension systems.

The woodland will also be incorporated into its building plan.

Genting will have another nursery, likely to be in Johor, where it will cultivate some 1,500 trees for its Sentosa resort.

The contract for the project will be up for tender in about a month.

The conservation plan is one of the largest tree transplanting exercises carried out for a commercial development in Singapore. - CNA/yy

1 June 2007

Channel NewsAsia
Hong Leong Asia wins contract to supply concrete to Marina Bay IR

Hong Leong Asia has won the contract to supply ready-mix concrete to the Marina Bay Sands integrated resort project.

Under the exclusive contract, the company will supply up to 1.2 million cubic metres of ready mix concrete for the construction of the integrated resort.

Hong Leong Asia did not indicate how much the contract is worth.

The resort is targeted to be completed in 2009.

The contract is expected to have a positive effect on Hong Leong's building materials unit. - CNA/ms

1 June 2007

Channel NewsAsia
Restaurants woo high-spending tourists for fine dining experience
 
Restaurants are going all out to woo high-spending tourists.

Those that Channel NewsAsia spoke to say tourists typically spend about 20 percent more per person on dining in general.

And restaurants expect this to rise even more when the integrated resorts are open from 2009.

Money in the restaurant business is going into casual dining and medium-size outfits, according to industry players.

They say leisure and business travellers make up a good chunk of Singapore's restaurant sales. And outfits that have done well also tend to be located in tourist hotspots.

Ang Kiam Meng, General Manager, Jumbo Restaurant Group, says, "Generally, the tourists contribute to about 25 percent of our revenue. While they're holidaying or visiting, they're more willing to spend compared to our local market. As such, tourists contribute to a very significant amount to our revenue.

"At this moment, the mid-size restaurants are getting very popular. And casual dining is the trend. The average spending for the customer is around S$35 (per person). With the construction of the casino and the integrated resorts, more and more high spending visitors will come to Singapore."

Singapore's first integrated resort The Marina Bay Sands is set to bring some 350 business meetings every year when it begins operations from 2009.

Some restaurant owners believe it is still early in the game yet to be catering to such high flier crowds.

But one new player is keen to grab a share of the fine dining pie now.

Far East Organisation has tapped on its Chinese partner JuChunYuan's established brand name and culinary skills to open a restaurant based on Fuzhou cuisine.

It expects Singapore's cosmopolitan community to be increasingly looking for both quality and varied dining options.

Arthur Kiong, Director, Hospitality Operations, Far East Hospitality, says, "There are more expatriates that are coming into Singapore. We've seen over the last year over 100,000 expatriates coming into Singapore. And they are looking for not only quality but something different.

"Some of the restaurants that were tenanted on our premises, we've experienced a 20 to 25 percent increase in people prepared to spend more to have a fine and quality dining experience. So in terms of on the upper end, we find that people are prepared to spend between S$100 and S$150 (per person)."

The restaurant may be the property developer's first F&B venture, but it is already looking beyond the local market.

Far East Organisation says it plans to make a franchise out of this unique blend of Singapore history and Fuzhou fine dining and go regional.

It says it sees market opportunities in other Asian cities like Hong Kong and Tokyo, where local restaurant groups like Tung Lok and Crystal Jade are doing well. - CNA/ms

28 May 2007

Channel NewsAsia
Genting gains full control of Singapore integrated resort project

Malaysia's Genting International gained full control of a US$3.4 billion integrated resort (IR) project in Singapore after shareholders Monday approved plans to buy a 25 percent stake of sister firm Star Cruises.

In a statement to the Singapore Exchange where it is listed, Genting said its proposal was "duly passed" at an extraordinary meeting.

Genting has said it would pay S$255 million (US$168 million) for the Star Cruises stake which would give it full control of the IR development called Resorts World at Sentosa.

The resort will include a Universal Studios theme park and the world's largest oceanarium, as well as gaming facilities, and is set to open in 2010.

Genting and Star Cruises, both part of Malaysian conglomerate Genting Berhad, in December won a bid to build Singapore's second IR to be located on Sentosa island off the city-state's mainland.

But Singapore authorities questioned the consortium after it announced a tie-up which would have given Macau gambling mogul Stanley Ho an indirect stake in the Sentosa project.

Genting pulled out of the partnership with Ho.

Star Cruises has remained part of the deal with Ho but had to sell its 25 percent stake to Genting to severe any links with the Singapore development.

Singapore's first IR on the downtown Marina Bay waterfront is being built by Las Vegas Sands. - AFP/ch

2 May 2007

Channel NewsAsia
Marina Bay Sands project on track for completion by 2009

SINGAPORE : The S$5 billion Marina Bay Sands project is on track to be completed by the second half of 2009.

This is despite the recent sand ban and disruption in the supply of granite.

Meanwhile, according to project designer and architect Moshe Safdie, some of the original designs have been updated.

The new addition to Singapore's cityscape is a mammoth task, especially given obstacles such as rising costs and a shortage of manpower.

But the man behind the design of this project remains unfazed.

Mr Moshe Safdie said, "It's one of those things that happen when you take a project of such a scale. It certainly didn't make it easier for us. Marina Bay Sands is looking for alternative sources as everybody else is and we'll keep going and overcome the issue."

He also said some of the designs have evolved since they were first conceptualised - like the Art-Science museum.

He said, "The form of the Art-Science museum was free form. We spent months making it a very orderly mathematical structure of spheroids which makes it a sounder structure, cheaper to build and I think more beautiful at the same time."

And beauty comes at a price.

Mr Moshe Safdie said, "The first shock and surprise is when we started excavating and we found the old sea wall which used to be the wave break which used to protect the boats in the bay. And we've had to remove that and it's been an extremely costly and complicated process."

Las Vegas Sands signed an agreement with the Singapore government in May last year, to build a S$5 billion (US$3.2 billion) integrated resort, three months after winning the bid. - CNA/ms

1 May 2007

Channel NewsAsia
CSC Holdings bags contract from Marina Bay Sands

SINGAPORE : CSC Holdings has been awarded a contract by Marina Bay Sands.

This is part of the project for the Marina Bay Sands Integrated Resort.

Under the contract, CSC will carry out the piling works and build the diaphragm walls for the north podium.

The contract is worth S$240 million.

Works are scheduled to begin next month and are expected to be completed in February next year. - CNA/ms

16 May 2007

AsiaOne
Home-grown gaming firm hits jackpot

Even before Singapore's first Integrated Resort (IR) throws open its doors in 2009, a home-grown company which develops and manufactures casino games has hit the jackpot.

The little known SME (small and medium-sized enterprise), Weike (S) Pte Ltd, which will be 10 years old next February, landed a $4 million contract last month, and is now eyeing $30 million to $50 million turnover this year. This would be a huge jump over the $10 million turnover it hit last year.

Mr Daven Tay, 40, president and chief executive officer of Weike, sees a bright future ahead for the company. "After nearly 10 years of hard work, we can say that we have finally arrived as there is good market recognition of our products."

The coming of the IRs and the generally relaxed atmosphere for gaming in Singapore now is a big boost to business, he says.

Weike manufactures and distributes slot machines, progressive jackpot link systems, electronic table games and exciting games.

"Our Singapore office functions as a design and development centre. The manufacturing plant is located in Malaysia because of the lower costs there. Some of the machines are brought to Singapore for final assembly and finishing touches before being shipped out to customers," says Mr Tay.

Weike has some 80 games on offer to its customers, who are mostly in Cambodia, Vietnam, the Philippines, Myanmar, Malaysia and Singapore. In recent years, the company has also shipped its gaming machines to places such as Madagascar in Africa, Macau, Hong Kong, China, Ecuador in South America and Ireland in North Europe.

Encouraged by the huge $4 million order secured from a South East Asian country last month, Mr Tay disclosed that Weike will be setting up its first overseas representative office in the country by July this year.

In its efforts to go overseas, Weike is being supported by International Enterprise Singapore, through a $100,000 grant under its scheme to help home-grown companies internationalise their operations.

"We are the first and only gaming machines solutions provider in Singapore. And till recently, we were the only manufacturer in South East Asia," says Mr Tay. Two years ago, a gaming machine factory started in Penang, but the company only develops new games.

"We deal only with legal operators. The first thing we ask our potential customers is to show us their licence," Mr Tay says.

Weike was set up in February 1998, and started as a manufacturing company with a staff of 10 people. The company has more than 100 staff today. But life was not easy as the company made losses in the first two years.

The breakthrough came in 2001 when it got a licence from Malaysia's Finance Ministry to manufacture and distribute slot machines and electronic table games to both local and overseas licensed casinos and clubs.

The company was successful in securing a similar licence from Singapore's Home Ministry in 2004. But Weike says that it only does simple assembly and testing here as it is more cost effective to manufacture in Malaysia.

"Most of the clubs licensed to have gaming machines in South East Asia, have our machines," claims Mr Tay.

While Weike's key markets are all in South East Asia, Indonesia and Thailand do not have any of its machines yet as gaming is illegal there. These two big countries are potential big markets for the company if they allow legal gaming one day.

Mr Tay says that his company believes in stringent quality control to ensure that all its products and systems comply with industry standards and obtains certifications from international certification bodies.

To keep track of the latest developments in the gaming business, Mr Tay and his senior staff go to the world's biggest gaming exhibition, the Global Gaming Expo held every year in November in the United States, and similar trade shows elsewhere, including Macau, Australia and Britain.

"Visiting and exhibiting at gaming expos and casinos and getting feedback from customers are among the ways we get ideas to improve our games and produce new ones," says Mr Tay.

Mr Tay, who has a masters degree in technical design from Nanyang Technological University (NTU), says he personally guides his design and development team, dividing his time between the Singapore and Malaysian operations which together employ over 100 staff. Most of the design team is based in Malaysia.

One of Weike's major successes has been electronic gaming tables which do not require a dealer. This results in tremendous salary savings to the casino operators as the tables operate on a player-to-player system.

Mr Tay says the electronic casino games tables are superior to dealer operated tables in that every move is electronically recorded and can be played back in case of a dispute. At the same time the casino operator can better track its revenue, while the authorities have better control over their tax collections.

Each table costs between US$80,000 and $90,000, and more than 60 tables have been sold in South East Asia alone.

As Weike's business is booming, its Singapore office in Kolam Ayer Industrial Estate is moving to a new office which is two-and-a-half times the size of the present one.

Its Malaysian production plant is also moving to a new site which offers thrice the size of its current one. On top of that, Weike is also planning to set up another production plant in China.

4 May 2007

Channel NewsAsia
New roads at Marina Bay area to facilitate construction of IR

SINGAPORE : A new road system will be rolled out later this month to help divert heavy vehicles away from the Central Business District (CBD).

This includes a new entrance to the ECP, which will be opened on Saturday.

It is the beginning of changes that will facilitate construction work in the Marina Bay area, home to the new Integrated Resort and financial centre.

The number of heavy vehicles on the roads leading to Marina Bay is expected to increase, as a result of the developments in Marina Bay area over the next three years.

The Land Transport Authority (LTA) predicts that at the height of the construction period, about 5,000 trips are required daily, to transport construction material to and from the project sites.

And with a proposed staging ground located further south for the loading and unloading of construction waste and materials, more heavy vehicles are expected to use the roads.

So the LTA is putting in place a new road system to help divert heavy vehicles away from the city, and manage the flow of traffic into the Marina Bay areas.

Chuai Chip Tiong, Deputy Director, Road Infrastructure Management, Land Transport Authority, explained, "The general sense that we have from (the) public is that they find the vehicles imposing, they find that the vehicles increase the potential hazard.

"We are building this new road system, whereby we provide direct access between ECP and Marina Bay area. This will allow the construction traffic to take a direct route into Marina Bay area using ECP without having to go into the city roads."

Work on the new system is already taking place.

On Saturday, a new entrance to the ECP will be opened.

This will cut the travel time from Marina South to the western parts of Singapore.

The LTA expects this direct route to shorten travelling time by 6 to 8 minutes.

And in the coming weekends, motorists can also expect other changes.

By May 12, Marina Station Road and the existing slip road into the east-bound ECP will be realigned.

This is to allow a new exit on the ECP to Marina Station Road, leading to Marina South, to be opened.

Motorists can use this new exit next Saturday.

On the same day, a road linking Marina Station Road to the Integrated Resort site will also be opened.

And from May 31, two new roads - Central Boulevard and Marina Boulevard - will give motorists better access to the area.

A new ERP gantry will be set up on Central Boulevard, leading into the CBD.

One section of Marina Station Road will be opened for two-way traffic, while an existing underpass from Marina Street to the east-bound ECP will be closed.

But LTA says these roads are only temporary.

Most of them will be replaced by a permanent road system by the year 2012. - CNA/ms

2 April 2007

Channel NewsAsia
Librarian wins top prize in Marina Bay Sands artwork competition
 
SINGAPORE: Marina Bay Sands wants the public to appreciate the architecture of the integrated resort, while the National Library Board wants to help ordinary Singaporeans fulfil their dreams in art.

So together, they came up with a contest for amateur art and design enthusiasts, to create an art installation for the resort.

It is called the "Bear Fruit" Programme and a librarian has emerged as the winning "artist".

Participants drew inspiration from the architecture of the integrated resort to produce the artworks.

"The Bear Fruit programme attempts to help individuals who have unfulfilled dreams to fulfil their dreams. So, for instance, the Marina Bay Sands project, they wanted an art installation. So we got individuals who have always wanted to do art but may not have done that because of their careers, their school or other commitments," says Gene Tan, Deputy Director, INVENT, National Library Board.

Under the project, the participants worked closely with art experts to help refine their concepts for the final installations.

Kong Leng Foong, a librarian, won the top prize of $1000.

"I started coming up with keywords on what I wanted, and the word 'envelop' came in. I like the idea of envelop because I wanted to create an overwhelming effect. From there, I moved to doing the solitude as a theme," says Kong.

The judges were impressed with Kong's entry for its powerful symbolism of solitude and leisure.

"I think all the different artists, I would call them artists, did really well because they're normally not really people in the creative fields," says one of the judges George Chua.

"For me, I really liked it because there is a certain quiet strength about it. And I enjoyed the fact that the artist, I mean, she's not normally an artist, she's a librarian. But, in this case, she really expressed her own personality in it."

The artworks are on display until April 26 at the National Library. - CNA/yy

17 April 2007

Channel NewsAsia
Asia looks to integrated resorts for more economic spinoffs

SINGAPORE : Singapore could become a hub for private equity funds betting on the leisure and tourism sector amid a growing regional interest in integrated resorts.

Analysts say governments in Asia are beginning to view these resorts as a tool to generate economic development and inbound tourist arrivals.

In the past year, private equity funds from the US have been buying into casino gaming operators with a global presence.

The buyouts amounting to tens of billions of US dollars involved big industry players such as Harrahs Entertainment, Kernzer International and Nevada-based Station Casinos.

Jonathan Galaviz, Gaming Analyst, Globalysis Ltd, said: "What this indicates is that private equity funds have substantial interest in getting exposure to the industry and of course these private equity funds will be using these new casino gaming operators that they have acquired as a platform for future international growth.

"What this means for Singapore is that looking to the future, Singapore could be well positioned to act as a hub for private equity funds or hedge funds who are looking to gain their exposure to the leisure tourism sector because of Singapore's strong strategic focus and knowledge of the industry."

With other Asian economies like Japan and Taiwan also thinking of jumping on the casino bandwagon, analysts say Singapore could serve as a base for capital deployment in the region.

They are positive about the prospect of the gaming and leisure market in Asia.

Investors are pouring billions into the sector in Macau - and Vietnam is also in the act - with a US$4 billion US casino city complete with white sandy beaches.

Paul Steelman, President, Paul Steelman Design Group, said: "We think some of the developments, especially those in Vietnam, have that potential, I think Macau will always be a leader, an attractive tourist attraction. But Macau does have some infrastructural problems that it is fighting now, or currently has designs to change. When you come out with something new, you actually create a new series of infrastructure, like what we are doing in Vietnam."

Industry players say there has been substantial under-investment to the entertainment segment in Asia over the last 5 to 10 years.

Now, its keen interest in developing integrated resorts, coupled with strong economic growth will not only woo tourists but businesses as well. - CNA/ch

16 April 2007

Reuters
Genting gets all clear for casino in Sentosa IR

THE Singapore government on Monday gave gambling firm Genting International the go-ahead to build a casino, following extended probity checks after the group announced links with Macau tycoon Stanley Ho.
'There is no issue now. We are only looking at our jurisdiction - who the partners and shareholders participating in Resorts World Sentosa are,' said Minister for Trade and Industry Lim Hng Kiang.

Mr Lim was speaking at the ground-breaking ceremony for the $3.4 billion casino project, called Resorts World Sentosa, which Genting International plans to build on Singapore's Sentosa island.

Genting International and sister company Star Cruises - which are both controlled by Malaysia's Genting Bhd - in December won a bid to build Singapore's second casino.

But the gambling group upset the Singapore authorities when it unveiled a tie-up with Macau casino tycoon Ho a month later.

Genting International later withdrew from a Macau partnership with Ho, although Star Cruises remained in the deal.

16 April 2007

Channel NewsAsia
Convention facilities at IRs to help S'pore's MICE sector

SINGAPORE: The two upcoming integrated resorts will play a key role in the growth of the MICE (meetings, incentives, conventions and exhibitions) sector in Singapore.

According to industry watchers, Singapore will see a greater growth in its MICE sector, compared with other countries in the region.

They say the emphasis on MICE facilities in the two integrated resort projects at Marina Bay and Sentosa will help Singapore compete for a greater share of the MICE market in the region.

Singapore is focusing on the MICE sector in its efforts to grow the tourism industry.

And industry watchers say it is playing its cards right.

"The MICE industry is an important part of the Singapore model and that is going to bring new business, new consumers to Singapore. If you look at Las Vegas, in one year, approximately $8 billion is the economic impact, just because of the MICE industry," said Dr Andy Nazarechuk, Dean of William F Harrah College of Hotel Administration, University of Nevada Las Vegas, Singapore campus.

Going by the experience of Las Vegas and Macau, experts believe the upcoming integrated resorts will not only bring in gaming revenue but also help boost hotel and retail turnovers in Singapore.

"The growth potential in the region is unlimited. If you look at Las Vegas, over the past 30 to 40 years, they've said it is going to cap out and hit its peak but it never has. So I think the growth potential for Singapore, Macau and the region is unlimited. In Macau, for example, by the end of this decade, 2010, they are looking at revenues of above $12 billion in the gaming industry. I think Singapore is going to set some new record in gaming revenue, and not only gaming but retail, hotel revenue when it (Marina Bay Sands integrated resort) opens in 2009," said Dr Nazarechuk.

There has been talk of competition between Singapore and Macau for the gaming dollar, but industry players say the two markets are different.

"I don't think these two places have life-and-death competition. What I have said is what's successful in Singapore may not fare well in Macau. I think each of the two territories, they will have their own niche market that they can exploit," said Dr Ambrose So, Director of Sociedade de Jogos de Macau.

"The Macau formula is a little bit different from Singapore. The Macau gaming industry is termed as the spearhead industry. It is the mainstay of the economic development in Macau. While in Singapore, you have the casino gaming as one of the elements in the tourism industry. That's why the government limited the amount of area attributable to casino operations....the emphasis of Singapore is really in the integrated resort where you offer other facilities, other amenities in tourism, with the addition of the gaming flavour," he added.

Dr So and Dr Nazarechuk are among industry players in Singapore for a three-day Asian Casino Executives Seminar, which opened on Monday.

Another is Mark Vlassopulos, the president of America's Eighth Wonder, which was one of the losing bidders for the Sentosa integrated resort project.

"I think there is no point to do a sidestreet gaming industry with European-style casinos that are small scale. Doesn't really benefit anybody in terms of revenue, government tax and at the same time doesn't really give any kind of true experience to a tourist, either a local or regional. So I think the critical mass is a really important factor. Do it big if you really want to do it at all," said Mr Vlassopulos. - CNA/ir

16 April 2006

Channel NewAsia
Daily tourist arrivals to surge when IRs operational in 2010

SINGAPORE: Singapore can expect a surge in tourist arrivals, with the daily number set to jump by some 55 per cent when the two integrated resorts are operational in 2010.

Trade and Industry Minister Lim Hng Kiang announced this at the ground breaking ceremony for Singapore's second integrated resort at Sentosa.

He said the tourism outlook remains positive and hoped businesses can exploit the new opportunities created.

The $5.2 billion Resorts World at Sentosa will feature a Universal Studio theme park, the world's largest oceanarium, and six world-class hotels.

It is slated to be fully operational by mid-2010.

Together with the Marina Bay Sands project, the resorts are projected to add another 2 to 3 million visitors, bringing the total tourist arrivals to 14 million in 3 years.

"Going by the current growth rate, this will represent a significant 25 per cent increase over the 11 million visitors that we are projecting for the year 2009. Combined with the expected increase in the length of stay from 3.4 days in 2006 to 3.6 days in 2010, this means that the number of visitors per day will increase significantly by 55 percent - from about 90,000 in 2006 to nearly 140,000 in 2010," said Minister Lim.

There will also be a buzz for other sectors.

Resorts World has some $508 million worth of projects to be tendered for over the next few weeks, with most of them expected to go to Singapore companies in the form of sub-contracts.

Among the projects are: an 8-hectare land reclamation project in front of the old ferry terminal, re-routing traffic and excavation works.

All in, Resorts World will offer some S$3 billion worth of construction and development contracts leading up to 2010.

Business deals aside, a hot topic at the ground-breaking ceremony was whether Genting had cleared the necessary checks to obtain the licence to operate the casino at the integrated resort.

"The Ministry of Home Affairs just put out a statement to reiterate our stand on probity checks. Resorts World at Sentosa understands our need to maintain this probity checks and there is no issue now. We are only looking at our jurisdiction, who the partners and shareholders participating in Resorts World Sentosa," said Mr Lim.

Genting acknowledged that it is still early days yet to apply for the licence.

Under the rules, an application can only be made after half of the investment amount and gross floor area of the project have been completed.

But Genting is making good progress in its move to distance itself from business tie-ups with Macau's gaming tycoon Stanley Ho.

Lim Kok Thay, Chairman of Genting International, said: "The disposal of the Macau investment by Genting International has already been concluded. What is outstanding is the disposal of the outstanding purchase of 25 per cent in Sentosa by GIL to StarCruises. That's waiting for shareholders' approval."

On the manpower front, the two new resorts are expected to add up to 60,000 jobs to the economy.

The Singapore Tourism Board will also launch a 3-year campaign - starting this year - to prepare the workforce for careers in the hospitality sector.

Resorts World, which is set to create over 10,000 jobs, says it will not rule out hiring mature workers, the disabled or ex-offenders. - CNA/ir

16 April 2007

Channel NewAsia
Social services net should be in place before IRs set up: gaming expert

SINGAPORE: As the integrated resorts start taking shape in Singapore, the government must take steps to enhance its social services structure to stop social ills from taking root.

A gaming expert with more than 30 years of experience says that if left unchecked, negative influences, like an erosion in traditional values and vice activities, may set in.

Quoting a Macau study, Dr Ambrose So also suggested more gambling counselling centres as 80% of youngsters are likely to try their hand at gambling before the age of 18.

Dr So, the director of Sociedade de Jogos de Macau, was the keynote speaker at a three-day Asian Casino Executives Summit (ACES), which opened in Singapore on Monday.

The summit, now in its 12th year, attracted prominent stakeholders from the gaming, leisure and tourism sectors.

Participants discussed successful gaming strategies and examined the hot markets in Asia.

They noted the huge revenue to be derived from gaming and the opportunities the industry presents.

"The growth potential in the region is unlimited. If you look at Las Vegas, over the past 30 to 40 years, they've said it is going to cap out and hit its peak but it never has. So I think the growth potential for Singapore, Macau and the region is unlimited. In Macau, for example, by the end of this decade, 2010, they are looking at revenues of above $12 billion in the gaming industry. I think Singapore is going to set some new record in gaming revenue, and not only gaming but retail, hotel revenue when it (Marina Bay Sands integrated resort) opens in 2009," said Dr Andy Nazarechuk, Dean of William F Harrah College of Hotel Administration, University of Nevada Las Vegas, Singapore campus.

This makes striking a balance between the positive and negative effects of the gaming industry very difficult, argued Dr Ambrose So.

Dr So said: "On one hand, you have casino gaming, which will increase your revenue and increase your prosperity, while at the same time it will have some negative effects on the social community, especially on the youngsters when they join this profession. They are always very susceptible to the various distractions of the gaming industry. So it is very important to have strong social measures put in place to safeguard the youngsters indulging and addicting to gambling, which is particularly important when previously you did not have gambling in the country itself."

Still, Dr So believed the gaming aspect in Singapore's integrated resorts will not be so large as to impact the social order here.

The control measures put in place will be self-righting and the damage, if any, will be minimal.

He also dismissed talk that Singapore will pose a threat to Macau, saying the two cities have different clientele and objectives.

Dr So said: "Macau is attracting people from China, Hong Kong and Taiwan. Singapore is more convention, exhibition oriented-gaming facility that is wrapped together. I think they have different clients in this market." - CNA/ir

16 April 2007

Channel NewsAsia
Sentosa integrated resort project breaks ground

SINGAPORE - Malaysia's Genting International broke ground on Monday on Singapore's second integrated resort development, insisting the multi-billion-dollar project is on budget despite shortages of construction material in the city-state.

Resorts World at Sentosa (RWS) began construction on a 49-hectare (121 acre) site on Sentosa island, with opening set for 2010.

The project got underway as Singapore deals with Indonesian-imposed restrictions on sand and granite, key materials for the city-state's booming construction sector.

Genting International Group chairman Lim Kok Thay said he did not see rising material costs leading to an over-run of the project's 5.2 billion dollar (3.4 billion US) budget.

"We don't foresee any over-run in the overall budget," he told reporters.

"Currently we are still on budget because obviously in the initial tendering for the project, we have allowed for contingencies," Lim said.

Genting International is part of Malaysian gaming conglomerate Genting Bhd.

In January, Indonesia banned the export to Singapore of land sand, a key ingredient of concrete. Checks by the Indonesian navy on barges bound for the island state have disrupted granite supplies as well.

Singapore's Building and Construction Authority has said that while the cost of sand imported from other countries is expected to increase, largely due to transport expenses, the situation is "manageable."

It said the government is releasing sand from its stockpile to make up for any transitional shortfall.

Resorts World chief executive officer Tan Hee Teck said building material cost fluctuations are factored into construction contracts.

The Resorts World development will include a Universal Studios theme park and the world's largest oceanarium, as well as gaming facilities.

Las Vegas Sands is building Singapore's other multi-billion-dollar integrated resort project at Marina Bay near the city-state's commercial heart.

Singapore Trade and Industry Minister Lim Hng Kiang, who attended the Sentosa ceremony, said the local tourism board expects both casino resorts to attract an additional two to three million visitors to the city-state.

Singapore in 2005 lifted a ban on casinos in a bid to attract more tourists, but other countries in Asia are also moving to liberalise their gaming laws and the southern Chinese enclave of Macau has become one of world's top casino draws to rival Las Vegas. - AFP/ir

16 April 2007

Channel NewsAsia
Casino competition hots up, can S'pore IRs take the heat?

With roulette wheels spinning and jackpot machines already whirring in casinos throughout a dozen Asian countries, the inevitable question that springs to mind is: Will there be enough well-heeled customers to feed the industry as more Las Vegasstyle super casinos go up in new locations?

The question arises with the distinct possibility of luxury casino complexes coming up in Tokyo and the southern island region of Okinawa by 2012, as Japan moves closer to an overhaul of its strict gambling laws.

Taiwan is also considering lifting its ban on casinos, while Thailand is also seen as likely to relax its gaming laws in the coming years, an AFP report said on Sunday.

The number of countries already cashing in on the gaming industry is somewhat startling: There are the huge ones in Macau and Australia, and lots of smaller ones in countries from Vietnam, the Philippines, South Korea, Cambodia and Laos to Myanmar.

Closer to home, there’s Genting in Malaysia and sister company’s Star Cruises vessels with casinos on board which ply to Singapore. Goa, too, has a number of gambling ships.

The target of Japan’s casinos, as in the case of Singapore’s two integrated resorts (IR) at Marina Bay and on Sentosa, are rich Asian tourists, whose gaming instincts will help boost the economy of the casino-operating countries. So, will Singapore experience a dilution of its IR business once these newcomers are up and running?

Analysts do not think so. Singapore should be able to rake in a good share of the jackpot, they told TODAY.

Said Mr Sean Monaghan, a Merrill Lynch analyst who monitors the gaming industry: “The Japanese will most likely be basing their casino-cum-entertainment complexes on the Singapore IR model, but both countries will be catering to different markets which would not overlap much.?

Singapore is in a dynamic part of the world as reflected by the success of Macau, said a Las Vegas operator.

“If you look at the numbers in Macau ?20 million visitors a year and growing -it reflects an untapped market. IRs in this part of the world are in their infancy. Singapore, with the appeal that the city already naturally has - we feel it’s an ideal location,?he said.

In any case, there are millions of potential punters from China, enough to fill the casinos ?those existing and those yet to begin operations in Asia ?said analysts.

Singapore will also be in a position to attract wealthy Chinese Indonesian punters. There will always be Singaporeans too, who gamble an estimated $900 million overseas a year, according to ABN Amro and US-based gambling consultancy, The Innovation Group.

Japan’s lawmakers are already drawing up proposals to allow a handful of huge Vegas-style casinos, said Mr Toru Mihara, adviser to the Japanese ruling Liberal Democratic Party’s casino study group.

American giants such as Las Vegas Sands, which have started work on Singapore’s Marina Bay IR, and Harrah’s Entertainment could team up with Japanese firms such as Sega Sammy, Konami or Aruze to build entertainment complexes including casinos, analysts told AFP.

Naturally, the Japanese government will be reluctant to hand over the entire lucrative business to foreign operators. The business of gaming, some experts say, is almost a licence to print money.

The Japanese?love for gambling can be drawn from the nation’s multi-billion dollar pachinko (pinball) industry, which attracts some 17 million punters. But Japan, as in the case of Singapore, will look to overseas punters to boost its tourism earnings.

Japan managed to attract just over eight million tourists last year.

In contrast, Las Vegas attracted a record 38.9 million visitors. Singapore drew close to nine million tourists. The Singapore Tourism Board’s plan is to double visitor arrivals to over 17 million by 2015. - TODAY/ra

15 April 2007

Channel NewsAsia
Govt to further liberalise hiring of foreign construction workers

SINGAPORE: Rules on hiring foreign construction workers may be further liberalised to meet rising demand.

This is according to National Development Minister Mah Bow Tan who was speaking at the sidelines of a welcoming event for foreigners residing in Tampines.

From the Integrated Resorts to projects at the Marina Bay area and residential developments islandwide, there is no doubt the construction industry is experiencing a boom.

And due to the rise in construction projects, developers are also facing a labour shortage.

Minister Mah said: "This boom in construction coincides with a worldwide boom in construction. In China, Beijing, they're building for the Olympics. In the Middle East, they're rapidly building their various cities. It's happening in Europe as well.

"Ministry of Manpower has revised its rules to free up some of the foreign worker policies as well as some of the supervisory manpower policies to allow more of such personnel to come and work in Singapore."

Mr Mah also expects wages to increase due to the tight labour market.

On the issue of the increasing cost of construction materials like sand and granite, he said prices would stabilise soon because these materials are already being imported from other countries besides Indonesia.

The materials will be used for current projects as well as for stockpiling purposes.

He said: "We're talking about reopening the quarry in Pulau Ubin, not so much to make up for the shortage because there is ample supply coming, but really to keep our options open and to help us learn and understand how to restart the quarry."

Mr Mah added that over time, if there is more than sufficient supplies coming in as expected, there would be no further expansion of granite mining at Pulau Ubin.

13 April 2007

Channel NewsAsia
S'pore, Macau sign MOU to boost business relations

SINGAPORE : Singapore companies and investors are now starting to look at opportunities in Macau, particularly in its booming gaming industry.

A memorandum of understanding (MOU) was signed on Friday, giving a boost to business relations between the two parties.

The MOU, signed between the the Singapore Business Federation and the Macau Chamber of Commerce, aimed to provide mutual assistance in the understanding of each other's markets and investments.

Both parties also pledged to facilitate co-operation between businesses from both sides.

Macau is hoping to attract Singapore investors, with its close proximity to the Chinese hinterland and its successful gaming industry.

Ma Iao Lai, Vice President, Macau Chamber of Commerce, said, "Macau is making a platform for a free port, and making a platform between Macau and Portuguese-speaking countries, and a platform for the Pearl River Delta, platform for the global Chinese entrepreneurs. We have very good outside connections".

Tourism and gaming are the main economic drivers of Macau, and they are seen as offering good opportunities for Singapore firms.

CapitaLand and Star Cruises are among the Singapore-listed companies which have recently announced plans to invest in Macau. And although Singapore is building two integrated resorts, gaming players in Macau are downplaying the issue of competition.

Dr Ambrose So, Director, Sociedade De Jogos De Macau, SA, said, "I think there is no direct correlation between if Singapore succeeds Macau must fail. That is not the right perception. I think (that) Singapore and Macau (each) have their own niche market. Macau has a very strong hinterland, which is China, around it, it has Hong Kong, Taiwan. Around Singapore you have India, you have South-East Asian countries. I think we can work on complementary activities... a lot of interactions where we can complement each other".

Macau's gaming industry has been booming since the sector was liberalised in 2001, helping the territory to overtake Las Vegas as the prime gaming destination in the world.

Gambling revenues from Macau's casinos hit nearly US$7 billion last year. - CNA/ms

8 March 2007

Channel NewsAsia
Genting to pay US$168m for control of Singapore gaming project

SINGAPORE: Genting International will pay $255m (US$168m) to acquire Star Cruises' 25 percent stake in a multi-billion-dollar gaming project in Singapore, Star Cruises said Wednesday.

The acquisition, which will give Genting full ownership of the Resorts World at Sentosa (RWS) integrated resort (IR), was announced on March 4 but the value of the deal had not been worked out at that time.

Both parties, part of Malaysian conglomerate Genting Berhad, said the move by Star Cruises to withdraw as a partner from the IR project was to meet Singapore requirements in applying for a gaming licence.

Singapore had sought clarification from Genting and Star Cruises since a tie-up announced in January with Macau casino tycoon Stanley Ho.

The tie-up with Ho would have given him and a group of investors a 6.99 per cent stake in Star Cruises.

In return, Star and Genting International were to get stakes in a new boutique hotel and casino to be operated by Ho's Sociedad de Jogos de Macau.

The Ministry of Home Affairs had told Genting and Star Cruises it would conduct checks "to ensure that the consortium meets the suitability requirements" before a licence were issued.

"It is essential for RWS to be in a position to meet the suitability requirements necessary for the application of a casino licence at the appropriate time in the future," Star Cruises said in a statement filed with the Singapore Exchange.

On completion of the deal, Star Cruises "will cease to have any interest in RWS and the Sentosa Integrated Resort," it said.

Genting International said in a separate statement late Tuesday that the move will allow the firm "full control over the IR project and this will expedite decision making and increase the flexibility" in running the project.

The Casino Regulation Division of Singapore's Ministry of Home Affairs had said in late February that the Genting-Star Cruises alliance were not guaranteed a casino licence even if they signed a development agreement.

Genting and Star Cruises won the bidding last year to build Singapore's second integrated casino resort complex on Sentosa island.

They have committed to invest $5.2b in the project, which is to include a Universal Studios theme park and the world's largest oceanarium, as well as gaming facilities.

Star Cruises and Genting International shares both traded lower Wednesday.

At the mid-day break, Genting International shares were 0.005 lower at 0.820.

Star Cruises was down US$0.025 at 0.290. - AFP/yy

5 March 2007

Channel NewsAsia
Singapore could set benchmark for casino security: experts

With construction of the Marina Bay Sands integrated resort now in full swing, one challenge the casino operation will face is security.

And according to gaming security experts, Singapore could set the benchmark for security in the casino industry worldwide.

In an ideal situation, a casino would like to keep every dollar they earn.

But in reality, casinos face a tough challenge when money exchange hands by the minute, all day long.

After all, the main commodity here is money.

Douglas Florence, NiceVision Security Division's Director of Gaming Sector, said: "What we have found over the years, in Nevada since 1999, the number is pretty stable. Of all the investigations for crimes committed in a gaming environment, 41 percent of the losses that occur are directed back to employees, either not following procedures which allow people to cheat and have scams, or (they are) part of a scam in collusion with the cheaters."

In a multi-billion dollar gaming industry like Las Vegas, such losses can be a huge drain on the bottom line.

And because casino gaming is new to Singapore, experts say it is likely new regulations will be in place to ensure gaming's integrity and that cases of cheating are kept low.

Digital technology is also on Singapore's side to keep the gaming industry ahead of the curve.

Steve Van Zwieten, GM of Panther Entertainment Group, said: "You are in a unique position, I think you don't have to re-invent the wheel. I think that you can take advantage of everything that's developed over many years. In fact, you have the opportunity to be the benchmark and to set it and I would encourage you to set that benchmark and let the others catch up."

It is estimated that between the two integrated resorts in Singapore, 2,000 or 3,000 security cameras could be installed on the properties to ensure that any sleight of hand doesn't happen on the gaming table. - CNA/ir

9 March 2007

Channel NewsAsia
Casino operators must clear suitability checks even after license issued

SINGAPORE: The Home Affairs Ministry reiterates that casino operators in Singapore's two integrated resorts will have to clear suitability checks.

Such checks are a continuing requirement even after a casino license is issued, it adds.

The comment came just days after the Genting-Star Cruises consortium, which won the Sentosa project, announced changes to accommodate their interests in both Singapore and Macau.

The changes came after the Singapore government said that although Genting had won the bid to build the Sentosa integrated resort, that did not automatically qualify it for a licence to operate the casino.

Genting International then withdrew from its partnership with tycoon Stanley Ho in Macau, while partner Star Cruises pulled out from the project in Singapore.

Genting-Star Cruises won the bid to build the Sentosa resort last year but came under the spotlight last month when it announced a deal in Macau.

The deal would give a group of investors, including Stanley Ho, a 7% stake in Star Cruises.

There have been concerns over Mr Ho's possible involvement in the Sentosa project.

In its latest statement, the Home Affairs Ministry said that all the bidders of the two integrated resort projects were fully aware of the requirements for probity checks on their management, shareholders, and other associates.

"Suitability checks are a standard practice in the casino industry to ensure that only suitable persons manage and control the casino. Singapore's practice is consistent with that of the leading casino jurisdictions internationally, for example, the United States and Australia," it said.

"Under the Singapore Casino Control Act, all casino operators are subject to such probity checks," the statement said.

5 March 2007

The Sydney Morning Herald
Singapore casino severs Ho connections

Genting International said sister firm Star Cruises would withdraw from a $US3.4 billion ($4.34 billion) Singapore casino venture, leaving the gaming company in full control.

Continuing its attempts to placate Singapore authorities unhappy about its links with Macau gambling tycoon Stanley Ho, Genting International said it planned to buy Star Cruises' 25 per cent stake.

Star Cruises and Genting International are both controlled by Malaysia's Lim family through the Kuala Lumpur-listed gaming group Genting Bhd.

James Packer's Publishing & Broadcasting Ltd (PBL) was forced into a major restructure of its Macau business last year to remove Stanley Ho from any direct involvement in PBL's venture with Melco International, run by Ho's son, Lawrence Ho.

PBL and Melco were in the running to win the Singaporean casino licence at the time and were also awaiting probity clearance for the joint venture by Australian authorities.

On Saturday, Genting International said it would divest its share in a proposed partnership with Ho to give Star Cruises the entire 75 percent stake in a Macau hotel casino to be run by him. A previous deal had given a group of investors including Ho a 6.99 per cent stake in Star Cruises.

Both moves are part of an anticipated unraveling of the two firms' tie-up with Ho. which had upset Singapore authorities.

On Tuesday, Singapore's casino regulator said that Genting International and Star Cruises - which won approval to build a casino resort in the city-state in December - would be subject to "suitability checks," along with their business associates, before being awarded a casino licence.

Star Cruises' move to relinquish its stake in the Singapore project will allow it to focus on Macau, where casino revenues amounted to $US7 billion last year, surpassing those generated along the Las Vegas Strip.

Ho, one of the world's richest men, had a monopoly on casino gambling in Macau for nearly four decades until it was opened up to other players in 2002.

Genting International said it had hired brokerage firm CIMB-GK Securities as its financial adviser.

5 March 2007

Channel NewsAsia
Star Cruises' pull-out from Sentosa IR may not be enough for Genting

Genting shares rallied early Monday morning following the announcement over the weekend that Star Cruises had pulled out from the integrated resort project at Sentosa.

The counter later reversed course - to close 3 per cent lower at 80.5 cents.

The move by Star Cruises is aimed at addressing concerns about the possible involvement of gaming tycoon Stanley Ho in the Sentosa project.

This has been the most drastic move taken by Genting so far to distance itself from gaming tycoon Stanley Ho.

Under a deal announced last month, Mr Ho is part of a group of investors who are taking a 6.99 per cent interest in Star Cruises.

In return, Genting and Star Cruises would take a stake in an upcoming project in Macau managed by Mr Ho.

Singapore authorities were quick to seek clarification over the deal.

And last week, they made it clear that Genting-Star would not automatically get the casino licence for Sentosa, despite getting the right to build the resort.

Over the weekend - Genting sold off its 25 per cent stake in the Macau project to Star Cruises.

And Star withdrew from the Sentosa project - leaving Star to focus on Macau, and Genting on Sentosa.

The move did not come as a total surprise - but some industry watchers have described it only a half-hearted attempt to placate Singapore concerns.

On the one hand, Genting wants to ensure it can pass the strict probity checks, and be granted a casino licence here.

And on the other, it still wants to keep its interest in Macau.

Analysts pointed out that the Casino Control Act gives the authorities wide-ranging powers to check on practically any relationship they so choose.

This means in the case of Sands, probity checks could go all the way to the US to verify all of the operator's business interests and its associates in any part of the world.

In the case of Genting, the problem appears to be Stanley Ho's 6.99 per cent interest in Star Cruises and his unproven links to the triads in Macau.

Sources say the authorities' main interest is in ensuring that no undesirable persons or entities are bank-rolling the Singapore casinos or have an undue influence in their operation.

Even after a casino licence has been approved, there's a five per cent limit on the equity an undesirable entity can acquire through the open market.

Beyond this the authorities can direct the said entity to dispose of its interest to a permitted level or risk losing the casino licence.

The integrated resort operators can only apply for the casino licence after at least 50 per cent of the project has been completed. - CNA/yy

4 March 2007

CNBC News
Star Cruises to Withdraw from a $3.4 billion Singapore casino venture

Genting International said sister firm Star Cruises would withdraw from a $3.4 billion Singapore casino venture, leaving the gaming company in full control.

Continuing its attempts to placate Singapore authorities unhappy about its links with Macau gambling tycoon Stanley Ho, Genting International said it planned to buy Star Cruises' 25% stake.

Star Cruises and Genting International are both controlled by Malaysia's Lim family through the Kuala Lumpur-listed gaming group Genting.

On Saturday, Genting International said it would divest its share in a proposed partnership with Ho to give Star Cruises the entire 75% stake in a Macau hotel casino to be run by him. A previous deal had given a group of investors including Ho a 6.99% stake in Star Cruises.

Both moves are part of an anticipated unraveling of the two firms' tie-up with Ho. which had upset Singapore authorities.

On Tuesday, Singapore's casino regulator said that Genting International and Star Cruises -- which won approval to build a casino resort in the city-state in December -- would be subject to "suitability checks," along with their business associates, before being awarded a casino license.

Star Cruises' move to relinquish its stake in the Singapore project will allow it to focus on Macau, where casino revenues amounted to $7 billion last year, surpassing those generated along the Las Vegas Strip.

Ho, one of the world's richest men, had a monopoly on casino gambling in Macau for nearly four decades until it was opened up to other players in 2002. Genting International said it had hired brokerage firm CIMB-GK Securities as its financial adviser.

3 March 2007

Reuters
Star Cruises may leave Singapore casino

Star Cruises Ltd., which along with sister firm Genting International Ltd. won a bid to build Singapore's second casino, may give up its 25 percent stake in the project, the Edge newspaper reported on Saturday.
The move will give Genting International full ownership of the casino resort in Singapore, leaving Star Cruises to pursue its tie-up with Macau gaming tycoon Stanley Ho.

Singapore's casino regulator said on Tuesday that the two Genting group companies that won the $3.4 billion casino project would be subject to "suitability checks" before they would be awarded a casino licence.

The regulator's statement was seen as a warning to Genting that it may not receive a casino licence -- potentially the most lucrative component of the entire resort -- following its unexpected tie-up with Ho last month.

The was an option the Genting group was considering to address regulatory concerns of the island state that Ho would have an indirect interest in Singapore's casino via Star Cruises, the Edge said.

Genting International and Star Cruises are units of Malaysia's gaming group Genting Bhd .

Genting International said on Thursday it had paid the final S$605 million instalment ($396.2 million) for the land and that it would ensure it met the requirements for a casino licence.

If approved, the plan will see Genting International focus on the Singapore project and Star Cruises on a hotel casino project in Macau.

3 March 2007

Channel NewsAsia
Marina Bay Sands attracts interest from job-seekers at career fair

SINGAPORE : It will not open till 2009, but queues are already forming for jobs at Marina Bay's Integrated Resort.
A participant at this year's Career 2007 fair, Marina Bay Sands has attracted much interest from job-seekers.

Right now, it is looking to fill positions for the construction phase of the Marina Bay project, and for its resort in Macau.

The crowds came in steadily, and many liked what they saw.

One job-seeker said, "I think it's very interesting working in a casino. I think it's an opportunity."

Set to open in 2009, Marina Bay Sands is looking to fill over 10,000 positions in casino operations, hospitality, as well as its convention business.

George Tanasijevich, Vice-President, Singapore Development, Marina Bay Sands, said, "If it's a particular skills set that isn't well-represented in Singapore at the moment, particularly because there isn't a casino in Singapore at the moment, then we'll bring in people from outside.

"However the emphasis will be on hiring Singaporeans and increasing the proportion of Singaporeans employed at this company over time."

This comes as good news for some.

One job-seeker commented, "It's a matter of what jobs they're going to employ, and what they want to employ me as...because of my age, I'm already 52."

But working at the gaming tables appears to be a prime attraction for others.

One job-seeker said, "Personally I'll be looking forward to having a job in casino operations".

While Sand's recruitment drive will gear up in the six months before the resort's opening, it said there were other opportunities ripe for picking in its resorts further afield.

Mr Tanasijevich said, "In various areas, we may look to even hire Singaporeans to bring them to Macau, work for us at our operation there, so that they can gain experience in working for our company, understand how we do things, go through an effective training programme, and at an effective point in time, to then potentially repatriate them to Singapore so that they can work for us at Marina Bay Sands...and already have a great skills set and relevant knowledge for our industry and our company."

With only two years to go, the company is already working with some educational institutions here to ensure a steady manpower flow come 2009.

March 2007

Todayonline
Second link to Sentosa

Despite some shadows of doubt being cast on its casino license, Genting's Resorts World at Sentosa is going full steam ahead, with the payment of $400 million to start construction and the unveiling of a surprise second bridge.

To allay concerns that the busy Sentosa link would be congested once the integrated resort (IR) springs up in 2009, Genting has thrown in a three-lane bridge costing between $60 million and $80 million.

As some 10 million tourists, excluding local visitors, are expected to visit the resort by 2015, this second link will help ease the anticipated "manifold increase in tourist traffic", said Mr Tan Hee Teck, the newly-appointed CEO of the $5.2 billion Resorts World at Sentosa, at the development agreement signing ceremony.

The completion date of the bridge will hinge on its design, which has yet to be confirmed. Preliminary studies are being done to determine the connection points of the bridge, and some rerouting of current roads will be made in October.

He said: "We are well under way in the project planning stage, and site clearance has been scheduled to proceed this month."

The casino bidder also, once again, gave its commitment to the Sentosa project, even though the licence hasn't been given out yet.

Referring to its sister company Star Cruises' deal with Macau tycoon Stanley Ho ?a deal which has caused concern among the authorities here ?Genting's managing director Justin Tan said: "Sentosa is the more important project for Genting. We only have a minority interest in Macau."

Singapore Tourism Board deputy chairman Lim Neo Chian, who was present at the ceremony, said that while there are still outstanding issues regarding Genting's casino license, the consortium can only apply for the license after over half of the proposed gross floor area has been built up and over half the committed development investment spent.

With the development agreement inked, Genting International and Star Cruises ?which own a 75 per cent and 25 per cent stake in Resorts World at Sentosa, respectively ?paid up $400 million to commence construction at the 49 ha integrated resort site.

This sum includes 75 per cent of the $605 million cost of the site, a 5 per cent security deposit of the committed development investment and other fees.

Over the next six months, the company will be hiring over 150 people for areas such as project management, marketing and corporate services. Key appointments in project development, human resources, finance, legal, corporate services and information technology have been made, with the executives coming on board over the next two months.

There will be a recruitment drive in the United States to hire top creative talent for the various movie- and show-themed attractions.

"It is our intention to have these foreign talent complement and nurture our local talent pool by providing training and skills transfer," said Mr Tan.

Who will take over from Metzger?

One of the first tasks for the newly appointed Sentosa Development Corporation (SDC) chairman Dr Loo Choon Yong will be the search for a new chief executive.

Mr Darrell Metzger, who helped transform Sentosa since he joined in 2002, shocked industry players with his resignation last month. The American will be leaving in mid-April for Dubai to help develop a destination resort five times the size of Sentosa in the Middle East.

Said Dr Loo: "We are doing an international search to make sure we get the best candidate, the most appropriate person and the best fit to head Sentosa. We are very sorry to lose Darrell, he has done a great job and Sentosa owes him a lot. But that's life, right? This is the international competition for talent we talk about."

Mr Metzger, who will remain a director on SDC's executive board, said he would help appoint his successor as well oversee the development of Resorts World.

As for his departure, Mr Metzer said: "I don't want to leave but I have to because there is a great opportunity for me in Dubai right now. I chose this time because we've completed nearly all our commitment to Sentosa. We have another three to four years of really hard work on the construction side but it's definitely going to be a success." - TODAY/st

2 March 2007

Marcel Lee Pereira
New Sentosa road bridge part of Genting's plan for IR

Consortium also announces $400m contract to prepare site for construction

A NEW three-lane bridge will link Sentosa to the mainland to ensure smooth traffic to and from the island's integrated resort in 2010.
The new road - which will run parallel to the existing causeway - and a $400 million contract to start prepping the resort site for construction, were announced by Resorts World at Sentosa (RWS) yesterday, when it took over the site for the $5.2 billion resort.

RWS, which comprises Malaysia's Genting International and Star Cruises, signed an agreement with Sentosa Development Corporation yesterday for work to begin.

The consortium said it has paid up the $605 million for the 49ha site, and will foot the bill for the bridge, which will cost between $60 million and $80 million.

Mr Tan Hee Teck, RWS' newly appointed chief executive officer, said the bridge was factored into the resort's blueprint in anticipation of the 'manifold increase' in traffic when the resort opens.

By 2015, some 10 million tourists are expected; RWS is now working with the authorities to come up with a more accurate picture of traffic needs through studies and surveys.

Construction of the resort itself will begin with excavation for an underground carpark, which needs to be built before the rest of the resort is built on top of it, said Mr Tan.

Contracts for site surveys have already been awarded, he added.

Meanwhile, RWS has begun its marketing blitz by taking part in local and overseas events such as the recent Asean Tourism Forum.

A principal leadership team has been hired, with the executives coming on board this month and next.

Among them is Singapore Press Holdings' Mr Michael Chin, who will soon leave his position as executive vice-president of the company's corporate development division and Times Properties to head RWS' project management.

Mr Chin, who joined SPH in 1991, played a major role in the successful development of The Paragon and the Sky@Eleven condominium project.

More than 150 jobs will be created in the next six months, mostly in project management, marketing and corporate services.

The net will be cast as far as the United States, where top creative talent for the movie and show-themed attractions will be hired.

Recruitment alerts will be posted on the RWS website at www.resortsworldatsentosa.com, set to debut next week.

Looming in the background amid this buzz is the deal between Star Cruises and Macau gaming tycoon Stanley Ho, which raised considerable alarm here because of Mr Ho's alleged - but unproven - links with Macau's triads.

Neither RWS' CEO Mr Tan nor Genting International managing director Justin Tan would be drawn into discussing this yesterday.

The deal - which could jeopardise RWS' chances of securing its casino licence - would give Mr Ho and a group of investors a stake of up to 6.99 per cent in the cruise firm.

In return, Star Cruises would offer Mr Ho's Sociedad de Jorgos de Macau the franchise to run the casino in a resort it is developing in Macau.

The Ministry of Home Affairs (MHA) said on Tuesday that members of the Genting-Star Cruises consortium will have to be screened, and the casino licence is not yet in the bag.

The consortium said it is determined to meet the probity requirements and will apply for the licence when at least half the resort's gross floor area has been completed and half of its development investment spent.

Singapore tourism chief Lim Neo Chian said issues remain to be ironed out between RWS and the MHA, but the project is 'still very much on track'.

1 March 2007
 
The Straits Times
8,000 new jobs in casinos
 
LAS Vegas Sands and Genting International, the two companies which have won the bid to build Singapore’s first two integrated resorts (IRs), have created tremendous excitement in the country’s job market as they themselves look to ring in the dollars in a few years?time.

The two resorts are expected to generate 60,000 new jobs here by 2015 when their operations are in full swing.

Human resource industry experts say that as hiring by Sands and Genting picks up, it will prompt a wave of job-hopping and poaching within related industries when the two organisations compete for quality staff. Those eyeing jobs in the IRs are happy as they can expect higher salaries and better benefits.

Marina Bay Sands has been quick off the ground by taking a booth at the Career 2007 exhibition to highlight some of the job opportunities in the IR being developed by it.

“At Career 2007, we will introduce the Marina Bay Sands project to prospective employees and give them a sense of the tremendous career opportunities available at our company,’’ says Mr George Tanasijevich, vice-president, Singapore Development, Marina Bay Sands.

“We expect to meet dynamic and talented candidates who are interested in working with us to develop Singapore’s first integrated resort and who have the specific skill sets and experience to complement our current team.?

The company will be gathering information at the exhibition from those who are keen to take up jobs in the Marina Bay Sands IR. These people may be contacted later when there are specific job openings.

Of the 60,000 new jobs to be created in the two IRs, over 8,000 new jobs are in the casino operations alone, according to industry experts. This estimate does not include the hands required to man the food and beverage (F&B) sections of the casinos.

“What is really exciting for job-seekers is that those lucky to be picked up for casino entry level jobs can expect to earn up to 50 per cent more compared to those in similar positions like waiters in the F&B industry,’’ says Mr Ramachandar Siva, chief executive of International Club Games Training Centre (ICGTC) in Singapore.

Mr Ramachandar’s training centre is the only organisation to provide hands-on skills training in casino gaming equipment, for which he says he has the approvals from the authorities.

The 43-year-old Malaysian has nearly 20 years of experience in the casino training business, having started as a management trainee with Genting in 1988. He rose to become Genting’s first casino training manager and after working there for 10 years, moved on to Star Cruises and was its vice-president for casino training before he set up shop in Singapore.

In June last year, he started the ICGTC at the former Turf Club in Bukit Timah to train those interested in casino jobs in Singapore’s two IRs and elsewhere.

“The opening of the two IRs offers a great opportunity for those looking for job security,’’ says Mr Rama, as he is popularly known to students and staff. “The casino operations will thrive and grow every year. So there is not only job security, but good prospects for upward movement,’’ he adds.

Mr Rama says typically, the casino entry level position is that of a croupier or card dealer. Candidates should have good O or N-level passes, and preferably be good in English and mathematics. They must be presentable and have a very friendly disposition as it is a frontline job.

While in western countries, traditionally, the people who take up casino jobs tend to be school leavers, this may not happen here as Singaporean youths like to continue their education after leaving school and they have to do National Service.

“I expect better-paying jobs to be created for slightly older people in the 25 to 30-year-old age group. These people would require training, which we can provide,’’ says Mr Rama.

His training centre offers Certificate in Casino Management (Floor Operations), Certificate in Dealing Casino Games and Certificate in Table Games Operations, which are available on both part-time and full-time basis.

“We are already receiving enquries from Star Crusies, Cambodian and Australian casinos, and international cruise operators who run casinos on board, as they all need trained staff. We are putting our students in touch with them,’’ says Mr Rama.

There are thus good job prospects for the 39 people who graduated from the first course in January and the over 250 people currently enrolled at the training centre.

1 March 2007

Channel NewsAsia
Genting views Sentosa IR as more important than Macau investment

Genting International says it views the Sentosa integrated resort as being more important than its investment in Macau.

The comment came as the gaming company signed the development agreement for the Sentosa project.

The Genting International-Star Cruises consortium officially took over the site for the Sentosa integrated resort on Thursday after paying S$605 million for the land premium.

Construction will begin almost immediately, beginning with excavation works.

Genting-Star Cruises will soon be calling for a tender to appoint a main contractor after it has refined and enhanced design details of the project.

There's been much buzz surrounding the project on talk there could be complications following a tie-up in Macau between Genting and Star and a group of investors involving gaming tycoon Stanley Ho.

But the newly-appointed CEO of Resorts World at Sentosa reiterates Genting's commitment to Sentosa.

Tan Hee Teck, CEO, Resorts World at Sentosa, says: "Resorts World at Sentosa is fully committed to the success of this development. We fully understand the need for thorough and stringent suitability checks. We are working closely with the authorities, and will ensure that Resorts World at Sentosa meets the suitability requirements for a casino licence."

Genting-Star Cruises also highlighted the fact that it owns 100 percent of Resorts World at Sentosa - while they would only have a minority interest in Stanley Ho's upcoming project in Macau.

In its statement on Wednesday, the consortium said it was working closely with Singapore officials on obtaining the casino licence for Sentosa.

But they refused to comment on how this might impact on their investment in Macau.

STB CEO Lim Neo Chian also clarifies that the integrated resort can only apply for a casino licence when it has completed 50 percent of the Gross Floor Area and after spending at least half of the S$5.2 billion development investment.

However, the resort refuses to comment on how Star Cruises will review Stanley Ho and group of investors' 6.99 percent stake in the cruise operator.

Star Cruises had earlier asked the Singapore Exchange up to the end of the month to review the deal.

Resorts World at Sentosa also announced that it will be investing between S$60 million to S$80 million to construct a new 3-lane bridge adjacent to the existing Sentosa Gateway Bridge.

Presently the resort and Sentosa are working out details on how to re-route the traffic in anticipation of an increase in tourist traffic going over to the island come 2010 when the resort is opened. - CNA/ch

8 February 2007

Channel NewsAsia
Genting, Star Cruises working with Singapore authorities over casino licence

Genting International and Star Cruises say on Wednesday they are working closely with authorities in Singapore over the casino licence for the Sentosa integrated resort.

Their response came one day after the Singapore government said in no uncertain terms that Genting-Star would not automatically get the casino licence for Sentosa and would first have to pass suitability checks.

Genting and Star Cruises say they understand fully the necessity and requirements of such checks - and that this is an on-going process, even after a licence has been issued.

They plan to apply for the licence only when the Sentosa project is substantially completed and ready to receive visitors.

The consortium is due to sign the development agreement on Thursday but their share prices took a hit on Wednesday.

Genting International shares fell 7.9 percent to S$0.755 while Star Cruises shares were down 13 percent.

Analysts say the latest developments could have an impact on their plans for Macau.

Genting-Star agreed to take a stake in an upcoming project there and sell a 7 percent stake in Star Cruises to a group of investors led by gaming tycoon Stanley Ho.

The casino licence for the Marina Bay integrated resort has also not yet been awarded.

This is because operators of the two resorts can only apply for the 30-year gaming concession once half of their developments are built. - CNA/ch

27 February 2007

Reuters
Singapore says Genting's gaming licence not automatic

Singapore said on Tuesday it would conduct "suitability checks" on two Genting group firms which won a bid to operate the city-state's second casino, warning that they would not automatically qualify for a casino licence.

A decision to withhold the casino licence could leave Genting Bhd with a $3.4 billion resort development in Singapore without the right to earn money from the gambling business.

Star Cruises and Genting International , two affiliates of Malaysia's Genting gaming group, won a bid to build and run a resort in the city-state in December.

But just a few weeks later investors and the Singapore authorities were caught by surprise when Genting announced a tie-up with Stanley Ho, the Macau gaming tycoon who dominated the casino business in the former Portuguese colony for four decades.

Analysts said the deal has clearly upset the Singapore authorities, prompting the regulator to warn on Tuesday that it may withhold the licence for the casino, potentially the most lucrative component of the entire resort.

The casino regulator said in a statement that Genting's eligibility for a casino licence would depend on its suitability as specified in a key clause in Singapore's casino act.

That clause states that operators must not have any business association with any partner who "is not of good repute having regard to character, honesty and integrity or has undesirable or unsatisfactory financial resources."

On Thursday Genting is due to sign a development agreement with Sentosa Development Corp., a government-owned body which runs the resort island where the casino will be built.

"The signing of the development agreement and the issuance of a casino licence are two separate matters," Singapore's casino regulator said in its statement.

"The signing of the development agreement allows Genting International and Star Cruises to proceed with the construction of the integrated resort. However, it does not automatically qualify them for the casino licence, which is needed before it can operate the future casino."

In the deal which it announced last month, Genting said a group of investors including Ho would take a 6.99 percent stake in its leisure cruise unit Star Cruises.

In exchange Star Cruises and Singapore-listed Genting International would take a 75-percent stake in a casino hotel in Macau to be operated by Ho.

Genting later said that it would review the structure of a deal after the Singapore authorities asked for clarification.

Genting declined to comment on Tuesday.

Ho, one of the world's richest men, had a monopoly on operating casinos in Macau until it was opened up to other players in 2002. During that period, Macau had a reputation for massage parlours and triad gangs.

Casino revenues in the tiny enclave on the South China coast rose 23 percent in 2006 to nearly $7 billion, surpassing those generated along the glitzier Las Vegas Strip.

Star Cruises and Genting International won Singapore's second gaming concession in December.

It beat a joint bid by Bahamas-based Kerzner International and property developer CapitaLand , as well as a four-partner consortium that included Australian tycoon James Packer's Publishing and Broadcasting Ltd. and his Asian gaming partner Melco International Development , which is run by Ho's son.

Singapore's first casino licence was awarded in May to U.S. gaming giant Las Vegas Sands , which has promised to build a casino along Singapore's downtown waterfront for $3.6 billion.

The two resorts, expected to open by 2010, are aimed at wooing tourists and boosting the city-state's services sector.

27 February 2007

Channel NewsAsia
Genting's IR project not guaranteed casino licence

SINGAPORE : Genting International and Star Cruises will be able to proceed with the development of the integrated resort at Sentosa.

This is according to a statement from Singapore's Home Affairs Ministry on Tuesday.

But whether or not the consortium will get a licence to operate a casino there is a separate issue altogether - and is subject to suitability checks.

The Ministry's statement is interesting on two counts.

It answers questions as to whether the Genting group can proceed with the Sentosa integrated resort - but, at the same time, it also suggests the consortium may not get to operate the casino if it does not pass the checks.

There has been much speculation over the integrated resort at Sentosa since Genting International and Star Cruises announced a tie-up in Macau last month.

They agreed to buy into a casino and hotel project in the former Portuguese enclave and Star Cruises would sell a 7.25 percent stake to a group of investors led by gaming tycoon Stanley Ho.

But the deal caught the attention of Singapore officials.

Reports suggested that there were concerns over the role that Mr Ho would play in the Sentosa project.

There was talk that Genting and Star Cruises might have to walk away from the Macau deal or risk losing their licence to build the Sentosa integrated resort.

The latest statement has made it clear that the right to develop the Sentosa project is separate from the right to run a casino there.

Genting and Star Cruises are due to sign the development licence on March 1st.

The Home Affairs Ministry says whether the consortium is eligible for the licence will depend on whether it is suitable.

Such checks will be conducted before the licence is issued and the Ministry has asked for the necessary forms to be submitted.

It also says the consortium and its associates are required to remain suitable even after the licence has been issued.

The casino licence is issued under the Casino Control Act.

The same conditions will apply to the integrated resort at Marina Bay. - CNA/ch

19 February 2007

Channel NewsAsia
New training academy to offer free training for 7,000 bartenders

SINGAPORE : More than 2,000 new bartenders are expected to be employed over the next few years, as Singapore gears up for the opening of the two new Integrated Resorts.

In the meantime, customers can expect better service from bartenders - thanks to the opening of a training academy that will offer free training for the 7,000-strong industry this year.

The Perfect Serve Centre opened its doors in January, and since then, 300 graduates have been trained.

One bartender who has gone through the course said it would pave the way for higher standards in the industry.

Jeffrey Koh said, "For these few years, it's been on the up - more bars, hotels, restaurants coming up...and with this course, more and more new current workers, crew, they can learn more and provide better service for customers."

Derrick Lee, President, International Bar Association, said, "A good training centre in bartending is long overdue. It is good that since we are moving into the IRs and have lots of job vacancies available, that uplifting of the image of the bartending job is very important. This will help to bring up the bartending standards in Singapore, (and) set it right at the international benchmark."

That is exactly the aim of Diageo, the drinks company which has pumped in a million dollars to set up this training centre - and it will give the courses for free.

John Collins, Marketing Director, Diageo, said, "We know that by investing in the training, it will not only enhance consumers' understanding of our brands, but also enhance their experience...We genuinely believe that by improving the service standards in Singapore, it's going to benefit the industry as a whole."

Responsible serving is also part of the training programme.

Bartenders are taught to gauge whether a customer has had too much to drink, to serve water in between rounds to help customers pace themselves, as well as look out for underage drinkers. - CNA/ms

12 February 2007

The Nation
Work begins on first casino in Singapore

Marina Bay Sands expected to attract 17m visitors a year to the city-state.

Singapore's first casino, the Marina Bay Sands, marked its progress in a ground-breaking ceremony on Thursday, with project executives confirming that it will open by the end of 2009 as scheduled.

The event was attended by National Development Minister Mah Bow Tan and top executives of Las Vegas Sands (LVS), including chairman and chief executive officer Sheldon Adelson and president and chief operating officer William Weidner.

"Singapore is about to undergo a significant change and the Marina Bay Sands will make Singapore the MICE [meetings, incentives, conferences and exhibitions] destination of Asia," said Adelson, adding that LVS is planning to deliver the best resort it can build.

He believes the integrated resort will assist the government by attracting 17 million visitors a year.

LVS won the bid to develop an integrated resort on Marina Bay and signed the development agreement with the Singapore government last August. It has committed to investing 5 billion Singaporean dollars (Bt1.1 trillion) in the project.

It is scheduled to open in late 2009 and create 30,000 jobs by the end of 2015.

Singapore is upbeat on its first casino, with a school that is producing qualified staff.

The Marina Bay Sands is the second project of LVS in Asia after the firm opened a casino resort in Macau in 2004.

Instead of competing against each other, Weidner said he saw the Marina Bay Sands and Sands Macau as complementary.

"The ability of the two markets to complement one another is natural. The Marina Bay Sands addresses the primary market, which is Indonesia, Malaysia and India in particular, while the natural market for Macau is mainland China, Japan and Korea," he said.

Weidner added that both MICE and the gambling industry in Asia were still underdeveloped and there was much more potential for development. He said the company was also looking for investment in other Asian countries, including Japan, South Korea and Thailand.

He said he had visited Thailand several times and had conversations with people "who might not necessarily be there anymore".

"As the political situation settles in Thailand, we will continue to offer ourselves as a potential developer," said Weidner.

Despite the political instability, Adelson said he saw the potential of investment in the Kingdom.

"Thailand is known as a place where adults like to be entertained," he said.

"It is not up to Sands to decide, the LVS chairman added.

"Thailand should do what it wants to do. If it wants a stand-alone casino without a resort, that's okay. If it wants an integrated resort with a casino, that's okay, but it is not up to us to come and tell them what to do," he added.

The former Thaksin Shinawatra government once raised the idea of developing a casino, mainly to cater to foreign tourists.

The plan was shelved due to protests from religious groups, who feared that a casino would have a negative social impact in the Kingdom.

9 February 2007

Asia One
Full steam ahead for Marina Bay Sands project

Undeterred by the recent Indonesian sand ban, the firm is driving ahead and projecting for events as far down as 2013

With the on-site piling works nearing completion, Marina Bay Sands is moving full steam ahead in promoting itself as the prime convention venue of choice.

Parent company Las Vegas Sands announced at its first on-site ceremony yesterday that promotional work to attract event organisers, travel agents, prospective tenants, and leasing agents were already ongoing.

The press event, graced by top Sands executives, local property tycoon Kwek Leng Beng and National Development Minister Mah Bow Tan, was an alternative to the customary ground-breaking party, which the developers did not have the time to hold.

The figures, however speak for themselves. To date, Marina Bay Sands has started promoting its MICE status to 15 organisers, and is looking to events as far down the road as 2013. Among them, a 2011 Cisco Systems event, which is equivalent in scale to last year's International Monetary Fund/World Bank Meetings held in Singapore, and will attract up to 16,000 delegates.

In securing tenants, the developers have met 250 prospective ones, who pitched 400 brands and concepts for the mall. Concurrently, 100 leasing agents from around the world are working to fill the 400 shop spaces.

In addition, the credentials of 56 travel agents are also being looked over to find out if tie-ups can be made.

Marina Bay Sands remains undeterred by recent Indonesian sand band and said that it will not make much of a difference, as it has a contingency fund and though transporting the sand from alternative sources will drive up costs by 30 per cent, the bulk orders will cushion the impact.

Mr William Weidner, Las Vegas Sands chief executive officer said: "We are going to have to pay 30 per cent more for sand because of transportation costs, but there is enough for us to progress."

Sands chairman Sheldon Adelson also said: "We have built into our budget a contingency of somewhere between 5 and 10 per cent, so the contingency for unforeseen costs is already built into the budget,"

Added Building and Construction Authority (BCA) CEO John Keung: "Although the price of sand from distant sources is higher than that from Indonesia, the cost increase is manageable. The impact on total construction cost will likely be between one and three per cent." He added that "as we increase the volume of import from new sources, we expect the cost to go down."

On manpower needs, Mr Weidner said that they are in discussions with government officials. He remarked that Singapore's fortunate position of having only a 2.5 per cent unemployment rate means that they will have to work within this framework, and they will ensure that Singaporeans are considered first for key posts.

Over the past nine months since being awarded the IR bid, the Republic Office here has grown from 10 to 155, and it expects to recruit another 500 in the next few months.

Sands chairman Sheldon Adelson said that they will not be shy about hiring people who are in their 40s and 50s.

In total, most of the 10,000-plus staff for the resort will be hired 18 months or so from the targeted opening date in 2009. A recruitment fair is also planned to be held here next month.

9 February 2007

Reuters
Singapore questions Genting over Macau link

SINGAPORE, Feb 9 (Reuters) - Singapore said on Friday that it was seeking clarification from Malaysian gaming group Genting Bhd., which is set to build and run a $3.4 billion-casino in the city-state, over its tie-up with a group of investors including Macau's Stanley Ho.

The government's statement comes more than two weeks after Genting agreed to sell a 7.52-percent stake in its leisure cruise unit Star Cruises to the Macau gambling tycoon and four other investors by issuing new shares and options.

The new investors will have a 6.99-percent stake in Star Cruises after the transaction.

In the deal, announced on Jan. 23, Star Cruises and its Singapore-listed affiliate Genting International , took a 75-percent stake in a property project in Macau to be operated by Ho.

Star Cruises and Genting International won Singapore's second gaming concession in December.

"The casino regulation division is seeking clarification from Star Cruises and Genting International about the share placement and the other deals in Macau," Ministry of Home Affairs casino regulation division manager James Chan told Reuters in an email.

The regulator had previously said that it would conduct suitability checks on its casino operators "as and when necessary".

A spokesman for Genting International said it was providing clarifications sought by the state regulator.

Singapore's pro-government Straits Times newspaper had reported that Genting's Macau deal had "raised a red flag with the authorities" and cited an unnamed source as saying that U.S. consultants hired by the government for probity checks into the casino bidders had returned to Singapore.

The first casino licence was awarded in May to U.S. gaming giant Las Vegas Sands , which has promised to build a casino along Singapore's downtown waterfront for $3.6 billion.

The two resorts, expected to open by 2010, are aimed at wooing tourists and boosting the city-state's services sector.

Ho, one of the world's richest men, had a monopoly on operating casinos in Macau for four decades until it was opened up to other players in 2002.

The former Portuguese colony, with a reputation for massage parlours and triad gangs, is the only place in gambling-mad China where casino gaming is legal. Casino revenues in the tiny enclave on the South China coast rose 23 percent in 2006 to nearly $7 billion, surpassing those generated along the glitzier Las Vegas Strip.

9 February 2007

Business Times
Issues over sand won't impede IR schedule
Company has built in contingency for unforeseen costs


(SINGAPORE) The Marina Bay integrated resort (IR) will open on schedule and issues concerning sand will not be an impediment.

Speaking yesterday at a ceremony to mark the start of construction of the resort, Las Vegas Sands chief operating officer Bill Weidner said: 'I believe there is a strategic stockpile that we can be utilising to make sure we stay on course.'

There will be some cost implications, but Las Vegas Sands chairman Sheldon Adelson is equally upbeat. 'We have built into our budget a contingency of somewhere between 5 and 10 per cent, so the contingency for unforeseen costs is already built into the budget,' he said.

Mr Weidner said the Marina Bay IR is on track to open in the third quarter of 2009.

Separately, Building and Construction Authority (BCA) CEO John Keung said: 'Although the price of sand from distant sources is higher than that from Indonesia, the cost increase is manageable. The impact on total construction cost will likely be between one and 3 per cent.'

In fact, in terms of overall development or project cost, the impact will be less than one per cent, Dr Keung pointed out.

'As we increase the volume of import from new sources, we expect the cost to go down.' BCA is also working with the industry to promote steel construction.

'We estimate that the cost premium for steel construction will be manageable, at 8 per cent of total construction cost - equivalent to about 2 to 3 per cent of total development cost - compared to concrete-based construction,' Dr Keung said.

Steel construction is also considered faster, requires less labour, is cleaner, offers more design flexibility and is better in terms of quality control.

Seah Choo Meng, president of the quantity surveying council at the Singapore Institute of Surveyors and Valuers, said on the use of steel: 'This is an opportunity to set the industry in the direction of sustainable design and could make Singapore even more competitive in the future.'

Mr Seah, who is also chairman of quantity surveying firm Davis, Langdon and Seah, believes that although the price of sand could increase more than 25 per cent, 'the industry would adjust to the new pricing'.

He also expects the industry to adapt in other ways. 'We used to have fluctuation clauses in construction contracts in the 80s and 90s for prices of construction materials,' he said.

'For new contracts, prices of sand could also be fixed or fluctuating.' Mr Seah said that while surveying recently he had initially noticed some hiccups at construction sites over sand, but most sites are 'going back to normal'.

8 February 2007

8 February 2007

Channel NewsAsia
Marina Bay Sands project on track to open mid-2009

SINGAPORE : The S$5 billion Marina Bay Sands project is forging ahead on many fronts, barely nine months after US-based company Las Vegas Sands was awarded the tender to build one of two integrated resorts in Singapore.

At a ceremony to mark a development milestone at the site on Thursday, Sands said it was committed to deliver on its promise of creating jobs and boosting visitor arrivals.

Las Vegas Sands has set its sight on being a part of Singapore's transformation into a global city, promising to offer a range of well paying and good quality jobs to Singaporeans.

It is expected to hire over 10,000 people, with the majority of the positions going to locals.

Much of the recruitment will be done at a later stage, but the operator is hoping to build up a database of potential employees by participating in a job fair next month.

It is also committed to re-skill workers and recruit older people.

Sheldon Adelson, Chairman & CEO, Las Vegas Sands, said, "It occurred to me to ask what the perception of older people are here, they said 40s and 50s. We think (people in their) 40s and 50s are probably the best employees..."

The operator is currently in negotiations with 15 international organisations on holding their conferences at the resort.

Its meeting, convention and exhibition space is also proving to be popular, with booking enquiries lined up till 2013.

Sands said it might consider expanding its MICE capacity.

On the retail front, it is working with leasing specialists in the US, Europe and Asia.

The Las Vegas Sands team has received interest from over 250 prospective tenants for retail and F&B space at the resort.

So far, some 400 brands and concepts have been pitched and the Las Vegas Sands team expects this to go up to 700 concepts by the middle of the year.

The question now is in selecting the right tenant mix.

The resort will add 2,500 premium hotel rooms to the market.

And Sands is confident occupancy rate will match that of its Las Vegas properties, at 95 to 97 percent.

William Weidner, President & COO, Las Vegas Sands, said, "We've signed up 56 different tour organisations that are interested in IR packaging process. The good thing about what we are doing in this process is - now we get to vet which of those are most successful in filling the room blocks and the quality of the people that they bring."

There were some early glitches during construction; extra work to remove large rocks underground, and Indonesia's ban on sand export pushing up costs of sand from alternative sources by 15 to 30 percent due to transportation costs.

But these have been budgeted for, with 5-10 percent of the budget being set aside for unforeseen circumstances.

And the project is set to lift the construction sector and boost tourism.

National Development Minister Mah Bow Tan said, "Its successful award has created confidence, confidence that we are prepared to change, prepared to take risk(s), and to reach consensus on a difficult decision and to move."

Marina Bay Sands is on track to open in the second half of 2009.

The operator anticipates it will make up a third of Sands' total operations.

8 February 2007

The Star
Graduates of Singapore casino school ready to deal, spin and take bets

SINGAPORE (AP) - Her fingers moved nimbly, swiftly gathering the scattered casino chips from the green roulette table into her cupped palm in stacks of 20. Toh Xue Ling's record for "chipping,'' or restacking 100 chips into neat piles, is 24 seconds.

But the 18-year-old who just graduated from Singapore's first casino dealer training course is more proud of her ability to calculate pay-outs at the roulette wheel, where the winnings depend on the placement of a chip and require quick-thinking math skills.

"I feel confident about finding a casino job. I've mastered the skills and I'm ready,'' Toh said.

Toh and 37 classmates - dressed smartly in dealer uniforms of black trousers, white shirts, black vests and armbands - graduated Wednesday night in a ceremony marked by laughter, champagne and demonstrations of newly acquired dealing know-how.

They are the first class to complete the six-month Certificate in Dealing Casino Games at the International Club Games Training Center, a 20,000-square foot (1,858-square meter) space styled after a real casino and filled with dozens of baccarat, roulette and blackjack tables.

It is an unusual scene in Singapore, which legalized casino gambling in 2005 but is waiting for the construction of two casino resorts - slated for 2009 and 2010 - before the games begin.

Even then, Singaporeans may be dissuaded from testing their luck by proposed regulations requiring casino operators to collect a levy of 100 Singapore dollars (US$60; euro50) a day or S$2,000 (US$1,180; euro990) a year from locals visiting the casino.

The new gambling reality has sparked the interest and curiosity of many in Singapore, who hope to take advantage of the job opportunities and tourism boom that the casino resorts are certain to bring.

Training center CEO Ramachandar Siva said Singaporeans are in a perfect spot - educationally and regionally - to gain from the casino boom.

"The standards are high in Singapore education, and among Singaporeans,'' he said. "So that pushes us to set a high standard, and we can then offer quality, professional croupiers to casino clients. That's our main objective.''

He opened the center in November 2005 in response to Singapore's legalization of casino gambling and also to fill the high demand for croupiers on cruise ships and in the Asian gambling hub of Macau, where he said an employment crunch has led to rushed courses that graduate "half-baked'' dealers.

Besides learning the ins-and-outs of the games, the students are schooled in theoretical situations such as how to spot a cheat and how to remain calm with aggressive customers.

"The pressure is higher in Asian casinos than American ones,'' Siva said. "The typical Asian gambler is more gung-ho, more hard-core, places higher bets in more volume.''

The students are hoping all this work will pay off.

Joel Koh Yang Pang, 26, was self-assured as he stood at one roulette table, moving chips around the number board to demonstrate the patterns he had memorized for quick calculations.

"We are better prepared than many others already working in casinos,'' he said, explaining that he often stayed for hours after the five-hour daily course to practice what he had learned. "We're trained well, we have hands-on experience, we know about gaming security, we know so much.''

Many Singaporeans have only gambled at horse races and other sporting events, or on slot machines at some gaming parlors.

Koh was ready to change this.

"I want some experience overseas, and then I hope to come back to Singapore and work at one of the integrated resorts at a higher level,'' Koh said. "I have the knowledge, and soon there will be opportunities in Singapore.''-AP

3 February 2007

AFP
Stanley Ho won't have stake in Sentosa IR

(SINGAPORE) Macau casino tycoon Stanley Ho will not have an interest in Genting International's gaming resort on Sentosa island, a resort spokesman said yesterday.

Jackson Loy, assistant director for communications for Resorts World Sentosa, was reacting to reports that Genting was planning to allow Mr Ho to gain a stake in the Singapore development in return for a foothold in the booming Macau casino market.

'Mr Ho will not be having an interest in the Resorts World at Sentosa project,' Mr Loy told reporters, using the name of the development due to open in 2010.

Genting International, part of Malaysian gaming conglomerate Genting Group, and its sister firm Star Cruises won a licence in December to build an 'integrated resort' including a casino on Sentosa, a popular beach and golf resort linked to mainland Singapore by a causeway and monorail.

The $5.2 billion development will feature Asia's first Universal Studios theme park outside of Japan and six hotels offering more than 1,800 rooms.

Last month, The Straits Times newspaper reported that Genting had been questioned by the Singapore government over plans to allow Mr Ho a stake in the Sentosa project.

It said the reports that Genting was in talks with Mr Ho had 'raised a red flag' with the authorities here.

The Ministry of Home Affairs' Casino Regulation Division declined to comment directly on the report but told AFP last month that 'suitability checks will be conducted as and when necessary'.

The report said Genting had offered Mr Ho and two other unnamed investors a 6.99 per cent stake in the Sentosa resort.

In return, Genting and Star Cruises were to get stakes in a new boutique hotel and casino to be operated by Mr Ho's Sociedad de Jorgos de Macau.

Singapore last year lifted its 40-year ban on casinos as part of plans to spruce up its staid image and draw more tourists. It is building two casinos.

Las Vegas Sands was the winner of the other licence and will build a gaming resort with an emphasis on convention facilities near the city-state's central business district. The project will be called Marina Bay Sands. - AFP

3 February 2007

Today Online
Sand 'glitch' won't hurt IR construction

Two operators say work schedules on track, Govt helping to secure supply. The Indonesian blanket ban on sand exports, coupled with the impending rise in prices, is unlikely to set back the construction of the Marina Bay Sands integrated resort (IR).

Just days before its groundbreaking ceremony on Thursday, the casino operator confirmed that its budget would not be affected, and said it expects the Government to help it secure alternative sources of sand.

Construction work on the other IR ?Genting International's Resorts World at Sentosa ?could begin as early as April if all goes according to plan.

On Friday, the Government gave its reassurance that the permanent ban on sand is unlikely to have any long-term impact on the construction industry.

Even as land sand is being transported to Singapore from a regional source outside Indonesia, Minister of State for National Development Grace Fu promised that sand would be released from the country's stockpile to ensure sufficient amounts to go around.

She said on Friday: "The imported sand has arrived in batches and we have seen good supply from alternative sources."

She also described the impact of sand costs on a construction project as small "if you look at the entire project cost, including land cost".

Meanwhile, Marina Bay Sands project director John Downs said the unexpected ban caused a four-day delay in operations last week, but this would not have an impact on the construction schedule.

"Hopefully, this is just a temporary glitch. We don't have any extra budget set aside at the moment specifically for sand," he told reporters on the sidelines of the Asean Tourism Forum on Friday.

The groundbreaking will launch construction work into full swing until the expected completion in late 2009.

The operator has already awarded a temporary construction contract to Bachy Soletanche Singapore, and is expected to sign some piling contracts next week.

"We've done the basic enabling works, secured the site perimeter, and done soil investigation and test piling works. Everything is moving ahead smoothly," said Mr Downs.

Resorts World at Sentosa, too, is largely unconcerned about the sand ban. "We have a sufficient stockpile for now, and we are working with the Building and Construction Authority to get more supplies," said the operator's assistant director for communications Jackson Loy.

Meanwhile, cost-sharing arrangements are being put in place to help both private and public construction projects. Ms Fu said the Government would bear some of the cost of increased sand prices used in public facilities, while the Real Estate Developers Association of Singapore is in favour of footing part of the higher bill for private developers.
Two operators say work schedules on track, Govt helping to secure supply from alternative sources."

She also described the impact of sand costs on a construction project as small "if you look at the entire project cost, including land cost".

Meanwhile, Marina Bay Sands project director John Downs said the unexpected ban caused a four-day delay in operations last week, but this would not have an impact on the construction schedule.

"Hopefully, this is just a temporary glitch. We don't have any extra budget set aside at the moment specifically for sand," he told reporters on the sidelines of the Asean Tourism Forum on Friday.

The groundbreaking will launch construction work into full swing until the expected completion in late 2009.

The operator has already awarded a temporary construction contract to Bachy Soletanche Singapore, and is expected to sign some piling contracts next week.

"We've done the basic enabling works, secured the site perimeter, and done soil investigation and test piling works. Everything is moving ahead smoothly," said Mr Downs.

Resorts World at Sentosa, too, is largely unconcerned about the sand ban. "We have a sufficient stockpile for now, and we are working with the Building and Construction Authority to get more supplies," said the operator's assistant director for communications Jackson Loy.

Meanwhile, cost-sharing arrangements are being put in place to help both private and public construction projects. Ms Fu said the Government would bear some of the cost of increased sand prices used in public facilities, while the Real Estate Developers Association of Singapore is in favour of footing part of the higher bill for private developers. Two operators say work schedules on track, Govt helping to secure supply.

3 February 2007

Today Online
Sand 'glitch' won't hurt IR construction
Two operators say work schedules on track, Govt helping to secure supply

THE Indonesian blanket ban on sand exports, coupled with the impending rise in prices, is unlikely to set back the construction of the Marina Bay Sands integrated resort (IR).

Just days before its groundbreaking ceremony on Thursday, the casino operator confirmed that its budget would not be affected, and said it expects the Government to help it secure alternative sources of sand.

Construction work on the other IR ?Genting International's Resorts World at Sentosa ?could begin as early as April if all goes according to plan. On Friday, the Government gave its reassurance that the permanent ban on sand is unlikely to have any long-term impact on the construction industry.

Even as land sand is being transported to Singapore from a regional source outside Indonesia, Minister of State for National Development Grace Fu promised that sand would be released from the country's stockpile to ensure sufficient amounts to go around.

She said on Friday: "The imported sand has arrived in batches and we have seen good supply from alternative sources." She also described the impact of sand costs on a construction project as small "if you look at the entire project cost, including land cost".

Meanwhile, Marina Bay Sands project director John Downs said the unexpected ban caused a four-day delay in operations last week, but this would not have an impact on the construction schedule.

"Hopefully, this is just a temporary glitch. We don't have any extra budget set aside at the moment specifically for sand," he told reporters on the sidelines of the Asean Tourism Forum on Friday. The groundbreaking will launch construction work into full swing until the expected completion in late 2009.

The operator has already awarded a temporary construction contract to Bachy Soletanche Singapore, and is expected to sign some piling contracts next week. "We've done the basic enabling works, secured the site perimeter, and done soil investigation and test piling works. Everything is moving ahead smoothly," said Mr Downs.

Resorts World at Sentosa, too, is largely unconcerned about the sand ban. "We have a sufficient stockpile for now, and we are working with the Building and Construction Authority to get more supplies," said the operator's assistant director for communications Jackson Loy.

Meanwhile, cost-sharing arrangements are being put in place to help both private and public construction projects. Ms Fu said the Government would bear some of the cost of increased sand prices used in public facilities, while the Real Estate Developers Association of Singapore is in favour of footing part of the higher bill for private developers.

3 February 2007

Straits Times
IRs 'on track' despite sand, probity concerns
Las Vegas Sands and Genting International say building works are going as scheduled


NO DELAYS, our projects are on track. The assurance was given by Singapore's two integrated resorts (IRs) yesterday, despite flutters over the supply of sand for concrete and a government probe into one of them.

Senior staff of the IRs were speaking to journalists at a presentation to the international media on the last day of the Asean Tourism Forum.

Marina Bay Sands said it is keeping to its construction schedule and budget for now, despite Indonesia's abrupt ban on sand exports and the surprise discovery of a concrete breakwater under the soil, which has to be removed.

Sands' project director John Downs said the sand sale ban came as 'a bit of a surprise', but added that he is hopeful that the Singapore Government will come up with a long-term solution.

The stoppage disrupted work for about three days last week, but he said: 'Hopefully, it's just a temporary glitch and our supply of concrete resumes during the course of this week.'

Mr Downs' building team of about 30 members will roll in with the cranes after Sands' top executives break ground next Thursday. The date was picked on the advice of their geomancer.

The price of sand has shot up by more than 30 per cent since the ban took effect on Jan 23, but Mr Downs said it is too early to gauge its impact on his construction budget.

A chunk of Sands' $5.05 billion investment in the resort will go to its Moshe Safdie architectural creation - three domes, three 50-storey blocks and a lotus-shaped museum. The structure is expected to take a lot more concrete to build, compared with the low-rise resort at Sentosa.

As for the breakwater - another surprise find after Sands took over the site - Mr Downs said it has been factored into the schedule and cost. The company has awarded one contract to foundation piling company Bachy Soletanche and will announce the names of more contractors in the following week. It recently expanded its corporate office at Republic Plaza and is building an office at the worksite.

Both Sands and Genting International - which is building Resorts World at Sentosa - plan to open in 2009.

Industry players say the projects' three-year construction schedules will need double-quick decision-making and round-the-clock work.

Genting, which was awarded its licence seven months after Sands received its own last May, yesterday indicated that it has made up for the late start.

Its assistant communications director, Mr Jackson Loy, said his team expects to take over the site this month and break ground within a month from then. His team foresees that four in every 10 of its 15 million anticipated visitors by 2010 will be from China.

Mr Loy did not want to talk about the Government's probe into Genting's recent deal with Macau's Stanley Ho, a casino mogul rumoured to be linked to triads. He did say, however: 'Mr Ho will not be having any interest in the Resorts World at Sentosa project.'

2 February 2007

Channel NewsAsia
Sand ban from Indonesia not significantly affecting IR construction

SINGAPORE: Indonesia's ban on the supply of land sand will not affect the construction of the two Integrated Resorts significantly according to the two operators, Las Vegas Sands and the Genting International-Star Cruises consortium.

At a presentation on the resorts at the ASEAN Tourism Forum, Genting International has also confirmed that Macau casino mogul, Stanley Ho will not have a stake in the Sentosa IR project.

The government had questioned Genting International, the winning bidder for the Sentosa IR project about its links with Macau's casino billionaire, Stanley Ho, when talk surfaced that he could possibly have an interest in the resort here.

However, all that came to nought when it confirmed on Friday that "Mr Ho will not be having an interest in the Resorts World at Sentosa project."

The next hot question was whether the recent stop in supply of Indonesian sand will disrupt the IR projects. Genting International says it will work closely with the Building and Construction Authority on this issue and should be ready to break ground in a few months.

Declining an on-camera interview, Genting's Jackson Loy says "the government has made known that there's sufficient stock-pile and therefore, we do not think that it will be an issue."

The Marina Bay Sands IR operator also hopes the sand issue is just a temporary glitch. "Our supply of concrete resumes in the course of this week, so hopefully, that's behind us now.

We had three or four days of disruption last week, we're just getting back up to speed so I don't think in terms of long term, hopefully in the long term, it won't impact us in terms of costs," said John Downs, Project Director, Marina Bay Sands.

The Marina Bay Sands Integrated Resort will hold its ground breaking ceremony next week, and over there at its site, construction is already well-underway. Next year, the company says construction will focus mainly on work underground. But everything is on schedule for its opening in 2009.

"In terms of construction progress, we've been doing basic enabling work, we've secured the perimeter of the site, we've established a temporary site office down there, we've done some soil investigation works, we've done some test-piling works, and basic management of the site area. We're basically getting ourselves prepared now with temporary utilities to get underway in full swing with permanent construction elements," said Downs.

When asked about a sea wall underground that could pose as a construction challenge at Marina, Mr Downs points out that working on reclaimed land is not easy, but the contractors are dealing with it.

31 January 2007

Asia Sentinel
Singapore’s Shifting Sands

Indonesia has banned sand exports to its tiny neighbor, saying that some of its islands are being stripped bare as Singapore tries to grow more land

Is Singapore an empire built on sand, particularly Indonesian sand? A decade-long squabble between the island republic and Indonesia over what seemingly ought to be an inexhaustible commodity has escalated, with Jakarta suddenly slapping a permanent ban on sand exports and risking another setback in the oft-strained relations with its nearest neighbor.

The move is no laughing matter for the wealthy island state, which has built big chunks of its metropolis on Indonesian sand and desperately wants more. Constrained by water on all sides, Singapore believes it must continue to grow physically as well as economically. At the very tip of Malaysia, the country is otherwise almost completely surrounded by Indonesia across the Singapore Strait. Jakarta is becoming concerned that as sand is stripped off for sale from tiny islands, the geography of the country is changing and Singapore will actually encroach the islets that make up its geographical boundary in the strait.

In 1960, the entire island state was only 581.5 square kilometers. It has since grown to some 650 sq km and expects to grow by another 100 sq km by 2030 ?if it can find the firmament. It wants the new land for private and public housing estates and recreational facilities for its growing population as well as expanding commercial and industrial activities and transport. The government's incessant sculpting has extended the coastline out to sea in the east, northeast and west, with coastal areas straightened by dykes. Offshore islands have grown.

Accordingly, Mari Pangestu, Indonesia's feisty trade minister, has had enough. She banned the exports, saying the decision is necessary to protect the environment and maintain her country's maritime borders. According to her "the revenue from sand exports hasn't been worth the damage it has caused to the environment."

A blunt response from Singapore's Ministry of National Development expressed disappointment not only with the decision itself, but also with Jakarta's failure to take up Singapore's offer to help resolve Indonesia's environmental concerns. But there are also problems at the northern side of the island. Bernama, the Malaysian government news agency, quoted the Johor Chief Minister, Abdul Ghani Othman, on Jan. 30 as complaining that massive land reclamation work by Singapore at the mouth of the Johor River just across the causeway from Malaysia had contributed to major floods in the state, leaving more than 18,000 people at relief centers.

But it is Indonesia that is complaining loudest. Indonesia has 17,000-odd officially recorded islands, and it wants to keep them all. Sand removal, both legitimate and illegitimate, is causing environmental havoc. Smugglers can suck up as much as 10,000 cubic meters of sand from coastal areas on a given night, allegedly protected by corrupt officials in the Indonesian navy, police and customs.

Environmentalists say marine ecosystems and habitats have been irreparably damaged by uncontrolled sand extraction, which has also led to the disappearance of a number of tiny islets in the province of Riau, 800km northwest of the Indonesian capital. The province is the main source of sand used to produce cement for Singapore's construction sector and coastal reclamation projects, which require an estimated 1.5 to 2 billion cubic meters of sand every year.

The legitimate sand is first sold to international brokers, at about S$1.50 (65 US cents) per cubic meter, who then mark it up to Singapore construction firms at S$20 (US$13). Analysts predict the price of sand could shoot up to S$50 per ton or more because of the ban, with an ensuing increase in overall construction costs.

Singapore's need for Indonesian sand increased considerably after 1997 when Malaysia, at the time Singapore's main supplier, banned exports. Two years later there was another boom in demand following the plan to widen Changi Airport and the Jurong and Pasir Panjang areas

A revival in construction has led to forecasts that construction demand in Singapore may climb to US$12 billion or more this year. Major planned developments include two casino resorts and the new Business and Financial Centre. Recent figures put the imports at 6 to 8 million tons a year and with construction projects up by 40 percent last year, the ban will hit Singapore where it hurts, in the pocket.

There are massive discrepancies in Singaporean and Indonesian trade figures on sand exports. In 2001, for example, official data in Jakarta showed exports of sand as less than 75 million cubic meters, while Singapore's import data recorded 300 million cubic meters. Singapore says it spends as much as $120 million to $160 million a year on Indonesian sand. But in 2005, Indonesia's Central Statistics Agency (BPS) reported US$9.5 million in sand exports, with Singapore bringing in the lion's share of $6 million, followed by China with $2.4 million.

Although sand has been exported to Singapore for almost a quarter of a century, Indonesia has seen little benefit. An estimated 60 percent of the actual trade is thought to have been moved through illegal operations involving well-connected players at both ends. Sand smuggling, mostly by Singaporean-owned dredgers, became worse after the downfall of Suharto, with whom Singapore's founding father, Lee Kuan Yew, had a close personal relationship.

While sea-sand export may be an environmental issue in Jakarta's eyes, at least, it is also very much a political issue because of concerns over borders between Indonesia and Singapore. Indonesia lost two tiny islands, Sipadan and Ligitan, to Malaysia at the International Court of Justice (ICJ) in The Hague after a three-year legal battle. The court's decision in 2002 was based on Malaysia's longstanding occupation of the islands.

Shortly after that verdict, the Minister of Home Affairs, retired general Hari Sabarno, warned of more losses to come if the government, through local governments responsible for outlying islands, failed to "maintain the country's sovereignty through whatever means necessary to demonstrate this sovereignty".

Singapore maintains that all reclamation is within its territorial waters. Jakarta remains concerned that Indonesia's sovereign territory could shrink by default due to the reclamation projects. The small island of Nipah on the maritime border between the two nations s only 20 kilometers across from Singapore's gleaming towers and huge container terminals; it is now almost submerged. It is one of 83 border islands that serve as points of reference for Indonesia's sea borders. If the island sinks completely the international boundary between Indonesia and Singapore will change to Singapore's advantage. A wider Singapore would mean a wider territorial line under the Convention on the Law of the Sea that measures marine territory according to the coastal base line.

Though both countries have an existing agreement on marine territory, they have yet to settle continental coastlines and economic exclusive zones (EEZs) In February 2004, then-Indonesian president Megawati Sukarnoputri sailed to Nipah on an Indonesian warship to pointedly reinforce Indonesia's claim.

"The sea is what holds the country together and we have to keep it intact as a national asset," she warned.

A month earlier her Minister for Fisheries and Maritime Affairs Rohmin Dahuri had let it be known that the Singapore government was not prepared to sit down and talk turkey about its borders with Indonesia. "One of the reasons why sea sand quarrying and exports from Riau were closed down is the issue of the borderline between Singapore and Indonesia," Dahuri said.

Dahuri, who also chaired the Sea Sand Mining Control and Monitoring Team, explained that the government had asked Singapore to hold talks on the position of the border but the offer was refused. Jakarta had temporarily closed down sea sand quarrying activities the year before and Dahuri said that while talks on the border issue, environmental damage, prices and also monitoring remained in limbo, quarrying would remain suspended.

Dahuri is now in jail on charges relating to corruption. In June last year Dahuri's successor, Freddy Numberi, reiterated that Singapore's reclamation of its coasts could confuse the two countries' common borders, and the ban would be lifted once the two countries had mapped out their sea boundaries.

"Boundaries are set from the reclamation point, not from the original point before reclamation," he pointed out, adding that the Foreign Ministry had discussed the issue with Singapore but was unable to reach agreement.

Officials from both countries met, pledging to resolve the issue as quickly as possible based on international law. Yet Singapore's claims that Indonesia had not properly mapped its maritime borders or its continental shelf zones were the basis for the thorny issue being consigned to the pending tray, at least by the Singapore government.

15 January 2007

Asia One Business Times
Southern Islands home to third IR?
By Arthur Sim

The Southern Islands may play home to Singapore's third integrated resort, but sources say it will be on a smaller and more luxurious scale than either of the two resorts announced last year.

New draw: Most of the development will likely be on reclaimed land. The site, comprising all seven Southern Islands, adds up to 115.6 ha - a quarter of Sentosa Island. Total gross floor area for all development on the Southern Islands is not expected to exceed 230,000 square metres. This is smaller than the 570,000 sq m Marina Bay Sands and the 343,000 sq m Resorts World at Sentosa.

Most of the development will likely be on 30 ha of reclaimed land at Lazarus, Renget and Kias Islands. The total development site, comprising all seven Southern Islands, adds up to 115.6 ha - almost a quarter the size of Sentosa Island.

The Southern Islands will be a low-rise, low intensity resort with buildings not more than four-storeys high.
A casino component has not been ruled out, but the resort may not have the critical mass to support this. There is also a 10-year moratorium on casino licences following the two awarded for Marina Bay and Sentosa. More likely attractions will be food and beverage, spa, health and beauty facilities.

The resort will be accessed by sea. International arrivals by private yacht will have to be processed through Customs, Immigration and Quarantine (CIQ), expected to be at One Degree 15 Marina Club at Sentosa.
Arrivals by helicopter are being considered.

Parts of the islands will remain open and accessible to the public, but the resort will mostly cater to a niche group of high net worth visitors - what the Singapore Tourism Board (STB) calls the 'premium plus customer segment' who seek 'total privacy'.

STB has said that a request for concepts (RFC) for the Southern Islands could be launched as early as Q1 this year, but declined to give an exact date. Industry watchers are excited by the prospect of new tourism offerings here.

David Ling, managing director of hospitality consultancy HVS International, said there is a market for luxury resorts in Asia. In Singapore, he says, 'the closest we have to one is the Sentosa Resort and Spa'. Mr Ling says luxury class tourists, mostly from Europe, Japan and Korea, think nothing of splurging between US$400 and US$1,200 a night on a villa in Phuket, Bali or the Maldives.

Resorts of this class, however, have ample natural attractions - and Mr Ling wonders whether the Southern Islands' proximity to international shipping lanes could be an issue. He also says a luxury class resort must be small, with not more than, '30 to 50 keys'. 'If you have about 300 rooms, it will be more like Rasa Sentosa.'
One of the key outcomes of the RFC will be to ascertain the land premium developers are prepared to pay. Most want to maximise the components of a project that make the numbers work - and this could mean building villas for sale. As such, it is understood that residential developments will be allowed if this is consistent with the islands' luxury positioning.

'In terms of capital values, a residential development will have higher value,' said Jones Lang LaSalle's regional director and head of investments Lui Seng Fatt. He believes that based on the success of Sentosa Cove, comparable plots of land for villas could be sold for between $7 million and $8 million. And likening the development to The Palms in Dubai, he does not think limited access will be a problem for these 'super-rich'.
Mr Lui also expects the hotel will be small and exclusive, with no more than 200-250 rooms. It will be a luxury hotel with the cost coming to between $500,000 and $750,000 per room. 'It will be a shame if the Southern Islands are marketed at any level less than Sentosa Cove,' he said.

Savills Singapore director (marketing & business development) Ku Swee Yong expects that the residential component on the Southern Islands could be substantial, with up to 400 condominiums, 300 bungalows with 100 hotel rooms. Mr Ku expects the overall land premium to be lower than at Sentosa Cove because of the infrastructure work that needs to be done. As such, he sees a price in the region of $600 psf per plot ratio, assuming the plot ratio is about 0.8-0.9. He believes the assessment of RFC submissions will be difficult because the concepts are likely to be 'varied'.

15 January 2007

Reuters
S&P says differentiation focus key to Spore's IRs' success

SINGAPORE'S integrated resorts' (IRs) ability to harness segmented business opportunities will be key to their long-term success, according to a report published on Monday by Standard & Poor's titled 'Singapore Puts Money On Differentiating Integrated Resorts From Regional Players'. The IRs' focus on differentiation from other regional gaming centres is supported by Singapore's position as a business-oriented and family-friendly destination.

On the other hand, most of the regional gaming centres are expanding facilities and upgrading support infrastructures, while increasing their emphasis on non-gaming amenities. 'This could dilute the distinction between the existing centres and the business model adopted by the Singapore IR projects,' said Standard & Poor's credit analyst Anshukant Taneja. 'Nevertheless, given the importance of gaming in the established centres' business, this dilution is not expected to take place in the near future.'

Given the IRs' focus on differentiation and the need to succeed in various business segments, the upfront investment required is higher than for pure gaming centres, thus increasing the IRs' vulnerability to slower growth.

At the same time, Standard & Poor's is more confident on the supporting facilities and access-friendly infrastructures in Singapore than in other regional centres. Singapore's IRs should also benefit from a significantly higher level of regulatory certainty and clarity.

The financial viability of these investments and their cash flows depend on building visitor volume across all of the IRs' business segments and the ability to manage this volume in periods of regional economic slowdown. 'Key challenges will be related more to the IRs' abilities to differentiate and position themselves in the gaming and entertainment industry, and to cohesively integrate themselves and the experience offered to visitors with the position that Singapore holds as a business and leisure destination,' Mr Taneja added.

26 December 2006

Channel NewsAsia
Integrated resorts stir markets, public interest

SINGAPORE: They stirred the market and got the public talking.

The race to build the two integrated resorts in Singapore ended with Las Vegas Sands clinching the Marina Bay project while the Sentosa bid went to Genting International-Star Cruises.

The two-year bidding process for the integrated resorts was peppered with surprises, as some bidders held their cards close to the chest while others went all out to pitch their ideas.

Las Vegas Sands was judged to have the best proposal for Marina Bay.

Costing some S$5 billion, the attraction will include a large shopping mall, museum and hotels.

But the clincher was in the convention space it would offer.

At 1.2 million square feet, the Marina Bay Sands will double the current space for exhibitions and conventions in Singapore.

Over at Sentosa, the focus was more on family fun and entertainment.

Genting-Star Cruises put in a S$5.2 billion bid which boasts of the famous Universal Studios theme park.

It will also have one of the world's largest oceanariums and a water park.

Wallace Chu, analyst, DBS Vickers, said: "I think the two IRs will put Singapore into international attention - you got all varieties of bids, you got investors from US, UK and they see Singapore as one of the growing cities in Asia. So these two projects have put Singapore in a very nice situation where people have noticed it and they are willing to invest in it."

Jonathan Galaviz, analyst, Globalysis, said: "One of the dynamics that make integrated resorts interesting from a tourism perspective is that growth feeds off growth, and the more entertainment propositions in the market place... the better off the overall market is."

The two resorts are set to put Singapore on track to reach its tourism target of 17 million visitors in 2015 and S$30 billion in tourism receipts.

Other economic spin-offs include boosting the construction sector, adding to Singapore's GDP and creating over 30,000 jobs.

Besides the integrated resorts, the Marina Bay area will also get a brand new look, with landscaping projects and a lighting master plan to add glow to the city skyline.

There are also initiatives to introduce more water-based activities in the area.

23 December 2006

Channel NewsAsia
Singapore plays its trump card to drive tourist numbers

SINGAPORE: Singapore played its trump card in a bid to drive tourist numbers.

Its winning hand included aces like the two integrated resorts and the revitalisation of the Marina Bay area.

The stakes were high as the bets roll in on who would build Singapore's two integrated resorts.

After two years of planning and evaluation, the cards were finally on the table.

Las Vegas Sands won the Marina Bay project with a S$5 billion proposal, which is targeted at business travellers and the convention sector, while Genting International-Star Cruises consortium was deemed the best bet to turn Sentosa into a family-tourist magnet with its S$5.2 billion Resorts World at Sentosa.

Both attractions promised to pull in millions of visitors when they open in 2010.

But industry watchers say the windfall has already begun for some.

Wallace Chu, Analyst, DBS Vickers, says: "When the development started, the construction people have come in. Consultants for architecture, for designers, for raw material supply have definitely taken part in the whole process. So I do see quite a bit of spin-off in the business related to the building up. We also need to account the lawyers, financial planners in terms of loans and all that. So the benefit is quite vast and broad-base."

Analysts say the comprehensive two-step tender process for the integrated resorts and the level of interest from the top bidders has impressed the industry.

And many would be keeping a close watch on future developments.

Jonathan Galaviz, Analyst, Globalysis, says: "From the private sector perspective, I think that there would be significant interest in the development of more IRs in Singapore because one of the dynamics that makes integrated resorts interesting, from a tourism perspective, is growth feeds off growth and the more types of entertainment propositions in the market place, like Las Vegas for example, the better off the overall market is."

Besides the integrated resorts, the Marina Bay area will also get a brand new looking with landscaping projects and a lighting master plan to add glow to the city skyline.

There are also initiatives to introduce more water-based activities in the area.

By 2010, Marina Bay will get a new iconic bridge, the Singapore Flyer observation wheel, a financial centre and gardens.

The Urban Redevelopment Authority says total investment in the area, both public and private sector, is about S$11 billion.

And the enquiries just kept on coming during trade shows overseas.

Fun Siew Leng, Director, Urban Planning and Design, URA, says: "Many investors have expressed interest to come to Singapore and see what the developments and investments opportunities are. They are extremely excited about Marina Bay. They want to know, for example, which other piece of land will be available in the market soon."

Analysts forecast that in the years ahead, Singapore would face the greatest threat from Thailand and Macau where tourism is concerned.

But they added that the city state has managed to stay ahead of the curve with strategic developments.

0 December 2006

Today Online
Genting joint venture to borrow $3.4 billion for Sentosa IR

Star Cruises' joint venture with Genting International will borrow $3.38 billion for its integrated resort on Sentosa.

Genting International and sister company Star Cruises, which are both units of Malaysian casino operator Genting, said earlier this month that they would spend $5.2 billion to build Resorts World on a 49-hectare site at Sentosa, after winning the bid for the project.

"The maximum funding commitment of the parties toward the development cost will not exceed $1.82 billion," said Star Cruises in yesterday's statement. The company said the rest of the investment would be funded by debt financing from a third-party lender.

Star Cruises owns 25-per-cent in the venture. Genting owns the remaining stake.

Casino operators are getting loans to expand in Asia, where industry growth is outpacing the rest of the world. Asia's annual gaming revenue will double to US$23 billion ($35.5 billion) by 2010, up from US$11.9 billion last year, according to a June report by PricewaterhouseCoopers.

Last week, Standard & Poor's said it may cut its rating on Star Cruises' bonds as the operator plans to sell more securities. It rates the Star Cruises' debt BB-, three levels below investment grade. ?Agencies

Copyright MediaCorp Press Ltd. All rights reserved.

16 December 2006

AFP
Sands warms to Genting overture
It says it is ready to work with Genting to promote IRs in face of strong competition worldwide

(SINGAPORE) Las Vegas Sands says it looks forward to working with Genting International to promote Singapore's upcoming integrated resorts (IRs), after Genting International chairman Lim Kok Thay made the first overture earlier this week. And work together they will have to.

'We look forward to working with Genting International to enhance Singapore's tourism landscape and transform it into a vibrant city filled with buzz, excitement and something for everyone,' Las Vegas Sands Corp president and chief operating officer Bill Weidner told BT.

And that's just as well. Because together, Marina Bay Sands and Resorts World at Sentosa will be up against formidable competition worldwide.

As gaming analyst Jonathan Galaviz notes: 'The convergence of the hotel lodging, casino gaming and entertainment industries in global tourism markets is accelerating at a very fast pace and integrated resorts provide the delivery mechanism to consumers.'

Two of the newest and biggest will be the US$3 billion The Venetian Macao on Macau's Cotai Strip by Las Vegas Sands, and the US$7 billion Project CityCenter by MGM Mirage in Las Vegas.

Project CityCenter will have 4,800 hotel rooms, casino, convention centre facilities, retail/entertainment/F&B and 1,640 luxury condominiums.

The Venetian Macao - considerably closer to Singapore and much more of a rival for regional dollars - is expected to be fully operational by the third quarter of 2007. It will be a very strong contender for gaming, tourism and Mice (meetings, incentive, conventions and exhibitions) business, with an estimated 1.2 million square feet of Mice space, casinos, 6,300 hotel rooms and one million sq ft of retail space.

By comparison, Marina Bay Sands - also owned by Las Vegas Sands - will have 1.2 million sq ft, while Resorts World at Sentosa will have significantly less space for crowds of up to 12,000 people.

Analysts says Singapore's competition is likely to come from Macau, as Singapore will not be able to take a meaningful bite out of the Las Vegas Mice and gaming business. 'The Mice industries in Las Vegas and Singapore are somewhat isolated from each other, mainly due to geographic reasons, and therefore do not impact each other substantively,' says Mr Galaviz.

Macau, on the other hand, is seeking to grow both gaming revenue and Mice business by chasing the same market the Singapore Tourism Board has identified for Singapore - namely, Asia.

How real is the threat to Singapore's plans? This year Macau's gaming revenue will exceed that of Las Vegas.

Billy Ng, a gaming analyst with JPMorgan Asia-Pacific, says gaming revenue from the Vegas strip was US$6 billion last year and is set for growth of about 5 per cent this year, taking it to US$6.3 billion. Macau, on the other hand, saw gaming revenue hit US$5.6 billion last year and will see growth of about 20 per cent this year, Mr Ng estimates. And this means Macau will have revenue of US$6.7 billion for 2006.

Las Vegas Sands chairman Sheldon Adelson is reported to have said recently that he expects gaming revenue from Sands' Macau operations to hit between $11 billion and $15 billion by the end of the decade.

Right now, about 90 per cent of Macau's turnover comes from gaming revenue, but five years from now Mr Ng expects non-gaming takings to climb to about 30 per cent. Already, The Venetian Macao has lined up 26 Mice events for its first year of operation.

If the Mice and leisure industries keep growing at the rate now, the IRs in Macau, Singapore and Las Vegas will all be able to enjoy a sufficient slice of the business. 'I think basically, the demand is strong enough to support all three locations,' Mr Ng says. 'There is certainly some overlapping (when it comes to Singapore's and Macau's target markets) but I think the market is big enough.'

Still, there is a general sense among analysts that Singapore's IRs will draw most of their visitors from South Asian and South-east Asian markets, leaving North Asia - including the huge China market that Singapore covets - to Macau. Asked how much competition the Singapore IRs will pose to the gaming, leisure and Mice businesses in Las Vegas and Macau, Morgan Stanley analyst Rob Hart answers: 'Virtually none. Macau will target Greater China Mice, Singapore Asean, and Vegas the US.'

While Singapore should get some tourists from China, Macau has the advantage of location, analysts reckon. 'It will be critical for the Sentosa IR to focus on attracting the new wealthy middle-class families from India as well, as these are very promising new leisure tourists in Asia,' says Mr Galaviz.

The two IRs here should be unique for at least the first two or three years of operation, but it will be necessary for both to make the reinvestments necessary to stay fresh, compelling, and unique to the greater Asian tourism base, he believes. 'It's important to note that the IRs are just one aspect of a holistic tourism strategy for Singapore over the coming years.'

13 December 2006

Channel NewsAsia
Government can expect US$1-2 billion in tax revenues from IRs: Analysts

SINGAPORE: The Singapore Government could expect tax revenues of up to S$3.1 billion a year from the two integrated resorts.

And the revenues could start flowing in within the first two years of operation, according to the prediction of a Citigroup analyst.

Chua Hak Bin, Director, Asia Pacific Economic and Market Analysis, Citigroup, says: "When the two integrated resorts come onstream in 2010, they are expected to generate some S$2.7 billion in value-add for Singapore's GDP, and create 35,000 new jobs."

Observers say the Singapore government could derive between S$1.5 and S$3.1 billion in gaming tax revenues from the two resorts.

"I think that if you do some estimation of the possibility of the betting duties that can be raised from that, and looking from the experience of Macau, that can be quite substantial," says Mr Chua.

"I think betting duties in Singapore now is S$1 billion, but there's a possibility of it going up to about US$2 to US$3 billion. For example, in Macau, it actually tripled over a span of three or four years. So looking at that, that's actually equivalent to a 2 to 4 percent GST hike, and that's quite substantial."

Citigroup says its assumption is based on 10 percent of Singapore's population visiting the integrated resorts a year.

Membership fees for casinos are projected at S$2,000 each for locals, and entry tax at about S$100 each.

Given these numbers, Citigroup is arguing that gaming tax revenues could be equivalent to the proposed two percentage point hike in the Goods and Services Tax, and so there may be less of a need for a GST rise.

Mr Chua says: "We did have Hong Kong come out to say that the GST hike on their side is not a possibility now. That, therefore, rules out the possibility of Hong Kong also cutting their corporate tax rate. Does this mean that there's less need for Singapore to increase the GST as a consequence?"

The government is planning to raise the GST to 7 percent from the current 5 percent to build up its resources for the future and fund social programmes for the elderly and lower income.

It has also said there will be an assistance package for the lower income that will more than offset the effect of the GST hike. - CNA/so

12 December 2006

The Straits Times
Genting's offer to smaller Singapore companies: Up to $200m Sentosa deals a year for SMEs

Small businesses are poised to hit the first big jackpot at Genting International's casino resort on Sentosa.
The Malaysian company yesterday promised to set aside up to $200 million worth of deals every year for Singapore's small- and medium-sized enterprises (SMEs), from the time it starts building its $5.2 billion integrated resort next year, to opening the doors in 2010, and beyond.

Everyone's a winner: The aim of the financial help, says Genting chairman Mr Lim, is to resolve cash flow woes so that local SMEs can focus on delivering quality goods and services. Topping that, it said it would also rope in banks and General Electric (GE) - parent company of its partner Universal Studios - to help SMEs obtain loans to take on resort contracts.
 
The $200 million worth of contracts represents a 'significant' part of the 49ha resort's annual running expenses and the sum is expected to grow, the company said. Sanitation, security, landscaping and maintenance are where SMEs can get a piece of the action, Genting said at a post-victory media conference at which top executives' wives also turned up to lend support.
 
Genting and its sister company Star Cruises beat Kerzner International and Eighth Wonder to clinch the project last Friday.  Genting's chief financial officer, Mr Tan Hee Teck, explained how it would help SMEs. For instance, if a small business were to land a laundry contract but had difficulty obtaining the financing for equipment, Genting could link the company to GE, which could provide a loan, and perhaps at better interest rates. This initiative is Genting's way of 'supporting local SMEs and nurturing entrepreneurship', said chairman Lim Kok Thay. The financial aid will alleviate the small business operator's cash flow woes, said Mr Lim. 'It removes a distraction for the SME and allows it to focus on delivering quality goods and services.'

Nine in 10 businesses here are SMEs, and they employ half of Singapore's workforce.
In the three years it will take to build and open Resorts World at Sentosa, Genting said it expects to create 22,000 jobs and add $3.9 billion to the economy. Its first hirings will likely be engineers and construction personnel. Recruitment will pick up midway through the project, in 2008, and again six months before the resort's opening, said Mr Lim.

Genting said it expects to draw 15 million visitors a year, both tourists and locals, in 2010. By 2015, it expects that half of the $30 billion national target for tourism receipts will have been made. It has already sketched out plans to court its first visitors. For holidaymakers, it will offer cruise and land packages through its Star Cruises network. For European high rollers, it will exploit its recently acquired Stanley Leisure network in Britain, a chain with 45 casinos.

The Genting team is in a hurry to start construction so it can 'catch up' with Las Vegas Sands, which won the Marina Bay IR site six months ago. Said Mr Lim: 'We are behind Marina Bay by a couple of months. Obviously, the Government would like to see the two projects finished on time, and to be not that far apart.'
Though the two resorts will inevitably compete for gamblers, Mr Lim is not ruling out a collaboration with Sands on other aspects. Sands is eyeing convention and exhibition visitors, while Genting hopes to lure 'incentive travel' groups, such as employees rewarded for work performance.

Genting's gesture was warmly received by the Association of SMEs (Asmes), which said the Malaysian company was the first among foreign investors to have made such a pledge. Asmes president Lawrence Leow said: 'It's a good $200 million. They are not just giving you business, they are helping you with the financing. It's a very welcome gesture.' Mr Leow added that the deals it has pledged could have been given to Malaysian companies, but by setting them aside for Singapore companies, Genting has signalled that it will be a 'responsible investor'. Its move has earned it new fans, he said. 'I spoke to a few companies. Everybody feels that we have made a good choice.

12 December 2006

Singapore Press Holdings
Genting to keep ticket prices at theme park competitive

By Marcel Lee Pereira

FRESH from winning the Sentosa integrated resort bid, Genting International yesterday took pains to address concerns that its attractions could be too expensive.

Tickets to the resort's Universal Studios theme park will be priced 'much lower' than the ones in the United States, Genting chairman Lim Kok Thay said yesterday.

It is too early to specify rates, but Genting will look at similar attractions around the world and set competitive prices.

Over the weekend, Singaporeans were reported in the media as being concerned that the admission charges at Universal Studios Sentosa could be too high.

At the Universal Studios in Hollywood, prices start from about US$50 (S$77) per adult.

Visitors to Sentosa, who will pay less, will get their money's worth.

There will be plenty of free shows: from the Crane Ballet, a showcase of choreographed 'dancing' construction cranes, to performances with water, light and visual effects at the 1,700-seat Imagineering theatre.

Apart from the rides, visitors can also visit 'edutainment' centres - including the Quest Marine Life Park, an 8ha oceanarium, and the Maritime Xperiential Museum, which will focus on Asia's seafaring history.

Genting will put in $20 million to $30 million a year to fund these attractions, and make the theme park a centre for research and learning in areas such as computer animation, marine biology and genomics.

The programmes include:

DreamWorks Digital Animation Studio: The 1,400sqm facility will give visitors a peek into how advanced computer animation technology is used in movies today.

Quest Medical and Marine Science Centre: It will focus on marine science and ecological education.

Marine biology, veterinary science, engineering and hospitality students will be offered internships and about 20 postgraduate students will be placed in a research fellowship programme with prominent marine biologists. Primary and secondary school students will also be offered lessons and field trips.

Quest Marine Life Park: Apart from housing the medical and marine science centre, it will provide logistics support and funds for a rescue centre and emergency response team for wild dolphins and other marine animals found stranded, sick or injured in the region.

Maritime Xperiental Museum: Leading scientist J. Craig Venter, who helped decode the human genome, will set up the Marine Environmental Genomics Research and Learning Centre here. Young children will get to discover bioscience and genomics hands-on.

Mr Lim is raring to go, and hopes to begin construction on the 49ha Resorts World at Sentosa as soon as possible.

He expects it to open in phases, with all areas welcoming visitors by 2010.

12 December 2006

Business Times
Sentosa IR will be top tourism earner: Genting

It expects resort to account for half of S'pore's $30b tourism revenue target by 2015 

(SINGAPORE) Resorts World at Sentosa will be Singapore's single biggest tourism earner, raking in $15 billion by 2015, developer Genting International's chairman Lim Kok Thay said yesterday.

Giving his take on why Genting and sister company Star Cruises won the Sentosa integrated resort (IR) project, Mr Lim said Resorts World alone will account for half of the $30 billion tourism revenue target set by the Singapore Tourism Board by 2015.

Even before the first attraction opens, Resorts World will add about $3.9 billion of value to Singapore's economy during the three-year construction phase from 2007 to 2009, he said. Also, more than 22,000 jobs are expected to be created during this phase.

Although Mr Lim would not say when construction will start, he indicated Genting is keen to 'hit the ground running' - which means ground-breaking could happen as early as this month.

Speaking at Genting/Star Cruises's first news conference since they were announced as winners of the Sentosa IR tender on Friday, Mr Lim also said yesterday the partners will rope in financial institutions to provide lending support to local SMEs that want to provide goods and services to Resorts World - and is even prepared to act as guarantor.

'We believe the resort presents an excellent market opportunity for many local SMEs in areas such as sanitation, security, and maintenance,' he said. 'We expect to procure between $100 million to $200 million in goods and services from SMEs each year. This initiative is our way of supporting local SMEs and nurturing entrepreneurship.'

Genting/Star have already approached 'a couple of local banks' as well as US-based GE (General Electric), which owns a majority stake in Resorts World's key attraction - Universal Studios theme parks.

Genting/Star itself will employ some 10,000 people for theme park, resort entertainment and gaming operations. And 75 per cent of these jobs will go to Singaporeans. Mr Lim said recruitment is expected to take place six months before the target opening date in 2010.

Resorts World will give back to the community in other ways too.

Quest Marine Life Park, an attraction focusing on marine science and ecological education, will offer annual funding of between $20 million and $30 million for research and environmental programmes, which include sponsoring research fellowships.

Ticket pricing for attractions has not been confirmed yet.

Mr Lim said tickets for Universal Studios in the US cost about $80, but the partners are looking at cheaper prices here.

The Genting group is also looking at how it will leverage on its existing network to bring tourists to Singapore. Mr Lim said it will create holiday packages for Indian and Chinese tourists that will include land and sea travel, with the possibility of even more economic spin-offs for Singapore. 'If there is enough demand for a new cruise terminal, Star Cruises will take a serious look,' he said.

11 Dec 2006

MediaCorp
Marina Bay IR to work closely with Genting IR

Marina Bay Sands says it hopes to cooperate with Genting - Star Cruises to transform Singapore's tourism landscape.

938LIVE's Ahfisah Rahman, with some insights on future plans.

The winner of the Marina Bay Intergrated Resort -- Las Vegas Sands, says it has yet to reach out to Genting- Star Cruises .

But Eric Bello, Vice President of Sales, for Las Vegas Sands, says working closely with Genting is essential as both have a common interest - that is creating a unique travel experience.

"So if I am Microsoft and I want to do a dinner for 10 thousand people, I am not going to do it every single day in Marina Bay Sands. I might want to do it in some unique location. Clearly Genting offers one of the most unique locations here so I know we want to work with them to be able to do events, I know we want to work together to a leisure stand point, you are going to see us interfaced with Genting to do complementary events together."

Speaking on the sidelines of an exhibition event here, Mr Bello says a key challenge of Singapore's MICE industry is separating itself as a different destination.

"Obviously a lot of the growth of the convention centres is in China. But you can't discount India Thailand, Vietnam, or Korea. So we got to separate ourself in singapore from all these other venues. clearly by choosing two IRs, you're separating yourself in a big way. Singapore is already very western. but you add gaming, add the entertainment, you add spa, add retail all under one roof, and belief me , it makes a huge difference."

The Marina Bay Sands will have a combination of exhibition and meeting space amounting to 110,000 square metres, in gross floor area.

That's more than twice the size of Suntec City.

Mr Bello said Marina Sands would have 2,500 conference rooms, 2,200 specifically for the MICE business .

The development is also targetting high end department stores, like Barney's in New York to open its first overseas operation here.

11 December 2006

BusinessWeek.com
Shares of the Malaysian outfit soared Monday

Shares of the Malaysian outfit soared Monday after it snagged the rights to build a $5.2 billion gambling resort in the island republic

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.

Genting will build a $5.2 billion casino by the end of 2010 and is targeting 10 million tourists by 2015. It expects to generate the equivalent of 0.8% of Singapore's GDP in economic activity and create 30,000 jobs once the casino gets up and running. The resort includes a Universal Studios theme park ?expected to be world's biggest - 22 attractions as well as an "ocean-arium." The resort will also build six hotels to accommodate gamblers and their families.

The group's Singapore-listed Genting International arm (which also owns London's biggest gaming company Stanley Leisure) will own 75% of the Sentosa casino resort. Meanwhile, another group company, Hong Kong-listed Star Cruises (SSKZF), will own the rest. Kuala Lumpur-based Genting Berhad runs Malaysia's only and Southeast Asia's biggest casino.

11 December 2006

Channel NewsAsia
Resorts World at Sentosa to offer S$200m worth of businesses for SMEs

SINGAPORE : Resorts World at Sentosa is expected to give Singapore small and medium-sized companies a big lift.

In its first news conference since winning the bid to build Singapore's second integrated resort last Friday, the Genting International-Star Cruises consortium said up to S$200 million (US$120 million) worth of goods and services will be procured from local companies each year.

The $5.2 billion resort is poised to give Singapore's tourism sector a boost.

But that's not all.

Genting-Star Cruises wants to give Singapore companies a roll of the dice as well, by awarding between $100 million and $200 million worth of projects to them every year, in areas such as hotel supplies, security, laundry and landscaping services.

"We have roped in financial institutions to provide financing support to SMEs interested to provide goods and services to the resort. The financing support will help the SMEs to improve their cashflow, enhance their ability to invest in resources and equipment, and allow them to have access to opportunities presented at the resort," says Tan Hee Teck, Chief Financial Officer of Genting International.

The resort aims to attract 15 million visitors during its first year of operation in 2010 and hopes to breakeven in seven years.

The Genting-Star Cruises group is also planning to woo more tourists from the region with special cruise packages.

"If you look at Florida or Disney, as an example, Disney has a very popular package, what they call land and cruise (where you'll have) four days of cruise and four days at Magic Kingdom. We'll be packaging passengers from India where we have home ported ships. And in North Asia, we're primarily targeting the Chinese market," says Lim Kok Thay, chairman of Genting International-Star Cruises.

Genting will also set aside $30 million a year to fund marine biology programmes to promote research and education.

These will include field trips for students, internship programmes and placement of over 20 post-graduate students from Singapore in sponsored research fellowship overseas.

Genting says it hopes to work with Marina Bay Sands to provide complimentary offerings. For example, Resorts World at Sentosa will not focus too much on the convention and exhibition component but geared towards providing incentive packages at its attractions like Universal Studios and the Maritime Xperential Museum.

Over the next three months, Genting will be hiring engineers and contractors to work on the project.

It expects the three-year construction period to create 22,000 jobs and generate nearly $4 billion of value-add to the Singapore economy. - CNA /ls

9 December 2006

Straits Times
Genting wins Sentosa IR bid

TRUMP CARDS:
Family-oriented theme with Universal Studios
Oceanarium, maritime museum, water park
Promise of 30,000 jobs, $2.7b boost to economy

GENTING International and partner Star Cruises have sailed smoothly to the finishing line, taking home the Sentosa Integrated Resort as its prize.

The consortium's family-oriented proposal, especially the much-touted Universal Studios theme park, was what powered it to victory, leaving in its wake rivals Kerzner-Capitaland and Eighth Wonder.

While famed architect Frank Gehry's glass sculpture design for the Kerzner team captured the imagination of the public, it was not enough to convince the judges.

Neither was Eighth Wonder's line-up of stars, such as soccer legend Pele, celebrity chef Alain Ducasse and fashion designer Vera Wang.

Deputy Prime Minister S. Jayakumar, announcing the winner with five other ministers yesterday, said Genting's Resorts World at Sentosa was 'the most compelling proposal overall that best meets our economic and tourism objectives'.

The Government did the maths and found Genting's $5.2 billion proposal would generate 30,000 jobs, and add $2.7 billion, or 0.8 per cent, to the economy a year - on par with the projections for Marina Bay Sands.

The bonus: Genting has tied in Universal Studios to an exclusive deal, in which the theme park has agreed not to open in any other South-east Asian country for the next 30 years.

The judges also liked the other attractions: The world's largest oceanarium, a water-theme park, and a maritime museum.

The contest for Sentosa differed from that for Marina Bay. More emphasis was placed on the bidders' ability to woo family holidaymakers, not business visitors.

But while Sands and Genting are likely to vie with each other to attract highrollers to their casinos, Trade and Industry Minister Lim Hng Kiang sees the pair as complementary in Singapore's larger tourism game plan to double visitor numbers to 17 million by 2015.

Genting's win ends a two-year journey which has seen Cabinet and public opinion split over Singapore's decision to overturn a 40-year ban on casinos in order to win more tourism dollars.

While Sands was the dark horse at Marina Bay, Genting's win drew hardly a gasp.

It is the only contender with experience in Asia, with its Genting Highlands resort and Asia's largest cruise company Star Cruises.

While some architects said Michael Graves' architecture was outclassed by Frank Gehry's, National Development Minister Mah Bow Tan said it was well laid out and true to the resort theme with its use of wood and stone.

Sentosa Leisure Group chief executive Darrell Metgzer, who will be Genting's new landlord, was especially pleased with its commitment to keep 70 per cent of its resort 'green', a tacit standard the island manager applies to Sentosa.

Mr Metgzer said Genting's design went well with the Harbourfront precinct.

With Genting's investment, the precinct, consisting of VivoCity, Mount Faber and St James Power Station, will now be a new $12 billion tourism destination.

Genting executives were 'ecstatic' at the win. Chairman Lim Kok Thay said it was confident of attracting 15 million visitors to its resort by 2015.

Genting's quest for the prize was fraught with criticism that it was a three-star operator and its Universal park was outdated. But minister Mr Lim said the Genting proposal included 'premium, quality attractions', many helmed by 'very strong partners'.

He pointed out that Universal was bringing in 16 new rides to Singapore. It has the chance to 'refresh' itself whenever there is a new blockbuster. Besides, tourists in Singapore's key markets - China, India and Indonesia - do not see it that way. 'The fact that Universal is a tried and tested brand does not mean it's stale.'

Asked if Singapore and Malaysia bilateral relations played a role in Genting's win, Professor Jayakumar said no, but added that with Genting's victory, 'this will bolster the strong economic ties between the two countries.'

8 December 2006

Asia One
Kerzner-CapitaLand enjoys home ground advantage

THE Kerzner-CapitaLand team, which has promised to pump $5.28 billion in the proposed Sentosa Integrated Resort (IR), is among the front-runners to land the prestigious project which is to be completed by 2010.

Its bid is lower than the highest bid of $5.5 billion put in by Eighth Wonder, but is slightly higher than Genting International's $5.2 billion.

Market-watchers say that Kerzner-CapitaLand enjoy home ground advantage given that CapitaLand is a prominent local property company.

Kerzner first found fame with Sun City, an African-theme gambling resort in South Africa, and then the fantastical Atlantis in the Bahamas.

Unlike the Marina Bay IR awarded to Las Vegas Sands in May, which focuses on bringing in convention visitors, the main job of the Sentosa IR winner is to get in leisure tourists, along with high-rollers for the casino, which is expected to be the cash cow of the resort.

For tourism appeal, the winner has shown strong expertise and experience in building and running attractions, hotels and casinos.

Kerzner promises more than 10 million visitors in the first year, with 30 per cent annual growth in the next five.

As for jobs, Kerzner has promised to keep three in four jobs for Singaporeans from among the 8,000 it would create in the first year.

Being mid-way between the three players finally left in the race, the Kerzner-CapitaLand duo, while having a good development track record, are focusing on their marine wonderland featuring robotic fish.

Kerzner International's proposed Atlantis Singapore is based on what the mythical underwater city would have been like in the year 3000. It will include robot fish.

Already Kerzner's Atlantis in the Bahamas attracts 1.2 million visitors annually. Its attractions - a water-theme park and an oceanarium, is what it is offering to replicate in Singapore. The schools of robotic fish co-existing with real fish in its oceanarium will pick up radio frequency identification tags issued to all guests and will, for example, say “happy birthday?to a guest in whatever language he speaks.

But Kerzner’s international division president Tobin Prior says the robots would just enrich the visitor’s experience but not supplant the real fish because Kerzner’s IR is one that celebrates the sea.

Its crown jewel for Sentosa is the glass architectre designed by famous architect Frank Gehry. Mr Gehry's Guggenheim Museum in Bilbao Spain, draws 900,000 visitors annually. . Its IR will also boast a pair of sails in glass and steel, designed by Mr Gehry.

But the market for architecture tourism still remains to be tested in Asia. Some analysts feel that Gehry's glass sails structure for Kerzner does not complement Sentosa's landscape, although it has drawn international attention to Singapore. It is considered distinctive compared to American architect Michael Graves' block-and-dome design for Genting, and Eight Wonder's contemporary design by Arquitectonica and Peter Marino.

Kerzner International says its Aquaventure water theme park would be a key highlight of its Sentosa integrated resort.

The park - about the size of nine football fields - will have four main areas catering to specific age groups and could accommodate more than 5,000 people at one time.

For thrill seekers, Kerzner proposes a slide complex with eight water-coasters, uphill "blasters" that propel patrons back to the top of a ride so they need not get out of the water, and other water-based rides, including one which involves a 70m free-fall body drop at a 60 degree incline, with riders sliding down an acrylic tunnel that runs through a shark tank and ending in a cave pool surrounded by tanks of alligator garfish.

"Kerzner pioneered integrating water rides with live fish habitats and is the world leader in this area," says Mr Prior.

There will also be a 'Dark Slide' - riders go through a tube in total darkness as special effects, such as sharks and fire are projected along the way. Another proposal is a 568m river ride. For toddlers and young children, there will be four mini water slides at a water playground.

The park will also have shark and stingray saltwater lagoons, where visitors can take part in scheduled interaction programmes such as supervised feeding.

8 December 2006

TODAYonline
Market bets on Genting International

Guess who's going to clinch the Sentosa integrated resort (IR) this afternoon?

Going by gyrations in the stock market yesterday , the winner will be Malaysia's Genting International, which lost the previous bid for the IR in Marina Bay.

Punters made a beeline for the company's stock on the Singapore Exchange, pushing the share price up by 1 cent, or 2.4 per cent, to 43.5 cents. As the most active counter yesterday, Genting's trading volume amounted to nearly 73.6 million shares.

Even before the eve of the announcement, investors had been snapping up Genting shares over the past two weeks. Market talk was that the clincher would be the Malaysian company's experience in casino management, as well as its tie-up with theme park operator Universal Studios.

While speculators feted Genting, they dumped the shares of developer CapitaLand, another frontrunner. The stock slumped 25 cents, or 3.9 per cent, to $6.20, on rumours that the company and its partner Kerzner International had lost the bid. About 10 million CapitaLand shares changed hands.

The third bidder ?Eighth Wonder based in Las Vegas ?is touted as a dark horse. Its partner, resort operator Banyan Tree, had its share price unchanged at $1.35 yesterday.

But if history is anything to go by, the punters may not be right. Earlier this year, the market bet wrongly on Keppel Land and Harrah's Entertainment winning the last bid, as the prize went to Las Vegas Sands.

8 December 2006

Asia One
Singapore to announce winning bid of Sentosa integrated resort at 5.30pm
 
Tightly contested race among three international gaming and leisure consortiums will end today after a two-month selection process.

The Singapore government will announce the successful bidder of its second integrated Resort on Sentosa at a media conference to be held at 5.30 pm, said a statement from the Singapore Tourism Board.

The winner, decided by a panel of government ministers, will be awarded a 30-year concession to run the integrated resort, which has drawn bids of nearly S$16 billion from three international gaming and leisure consortiums - Eighth Wonder, Genting International and Kerzner-CapitaLand.

All three teams had pulled out the stops to meet the Government's requirements - tourism appeal, design, investment amount and investors' track record, while blending in their own unique identities into the mix.

"At this point, all three bidders stand an equal chance of winning the Sentosa project due to each having innovative entertainment concepts combined with the close proximity of capital commitments," said Jonathan Galaviz, a partner at Globalysis Ltd., a Las Vegas, Nevada-based consultancy firm.

"This race is very tight and ultimately the winner will be the bidder who successfully demonstrated the ability to drive new consumer leisure tourism into Singapore over the next decade."

Here are the key features of the proposals submitted by the three bidders:

Genting

Genting International, who targets to invest $5.2 billion into the project, and say they can pull in 10 million visitors by 2015.

Their strategic partnerships with Universal Parks and Resorts, and Star Cruises, coupled with their proven track record of operating in Asia, make them tough contenders.

Genting will create an integrated dome-and-block infrastructure developed by New York architect Michael Graves, build a Universal Studios theme park, and feature the world's largest oceanarium.

Eighth Wonder

Eighth Wonder plans to invest $5.5 billion and they target to pull in 15 million tourists by 2014.

Though labeled as a dark horse due to their lack of casino operating experience, Eighth Wonder has roped in key players Isle of Capri Casinos from America, Australia 's Publishing and Broadcasting Limited (PBL), and Hong Kong's Melco International Development to boost their ranks.

If chosen, the developers will build a man-made volcano rising in the middle of the resort, with a 10-storey-high waterfall cascading into it, themed "Harry's Island", based on chairman Mark Advent's fantasy of mythical hero Harry O'Brien.

Kerzner-CapitaLand

Kerzner will invest $5.28 billion into the project, and say they can pull in 10 million visitors in the first year of operation.

Like Genting, Kerzner possesses the much valued track record, having found success with Sun City, an African-theme gambling resort in South Africa, and the fantastical Atlantis in the Bahamas.

Unlike the others, however, they also enjoy a certain 'home-ground' advantage, given CapitaLand's prominence in the local property industry.

The resort's central theme, a lost city of Atlantis circa year 3000, will be incarnated in renowned architect Frank Gehry's dramatic glass structures.

It will boast nine main attractions, ranging from a coral dive lagoon to public artworks, and the 14-ride, nine football fields large Aquaventure water theme park.

In anticipation of the results this week, National Development Minister Mah Bow Tan said last week: "We'll go through the proposals in detail and at the end of the day, make a decision based on the criteria, which is an objective one and which is one that we believe will bring the most benefits to Singapore."

The resort is expected to operated from 2010.

In May, US gaming giant Las Vegas Sands won the bid for Singapore's first casino resort which will be built in Marina Bay. Expected at a cost of more than $3.2 billion, the resort is set to open by late 2009 or early 2010.

8 December 2006

AsiaOne
Dark horse in Sentosa IR race

Eighth Wonder is widely regarded by industry analysts as the dark horse in the race for the contract to build the Sentosa integrated resort.

It is the only one among the three bidders which has never built or operated an integrated resort.

But the lack of a track record did not stop the Las Vega resort developer from submitting the highest bid of S$5.5 billion backed by two casino players.

It has roped in a long-running partner, America’s Isle of Capri, and the Melco-PBL Entertainment, joint venture between Hongkong-listed Melco International Development and Australia’s Publishing and Broadcasting Limited (PBL).

Melco which has interests in the leisure, gaming and entertainment industries, has a market capitalisation of more than US$2 billion. It is headed by Lawrence Ho, the son of Macau casino magnate, Stanley Ho.

PBL which has a market capitalisation of more than US$10 billion, is Australia’s largest media, gaming and entertainment group. The leader is James Packer, son of the late Kerry Packer, a media mogul who was Australia’s richest man.

It runs Melbourne’s Crown casino. Under the name of Melco-PBL Entertainment, it will operate a Crown casino and a Crown-branded hotel if the Eighth Wonder consortium is awarded the project to build what has been described as Harry’s Island on Sentosa.

PBL and Melco are already developing casino properties in the Chinese enclave of Macau. The Melco-PBL joint venture made a bid for the Marina Bay integrated resort, but pulled out early this year due to “insufficient?expected returns.

The concept of Harry’s Island is based on the character, “Hurricane? Harry O’Brien, a suave, debonair, part-explorer, scholar, adventurer, athlete, statesman, artist and an inspiration to mankind, created by Eighth Wonder’s chairman, Mark Advent, in 1994.

He said he came to Singapore two years ago following the announcement that it was legalising gaming, fell in love with Sentosa, and decided that it was perfect home for Harry.

The iconnic centre-piece of the “big bang?resort proposed by Eighth Wonder which will have something for everyone, is a caldera formed when a volcano has collapsed, usually after an explosion of extraordinary force.

The caldera rising in the middle of the resort will have a ten-storey high waterfall cascading into it. Packed inside and on its slopes are attractions like a 7,500-seat theatre, themed hotels, amusement rides and restaurants.

Designer Vera Wang and decorated chef, Alain Ducasse, will lend their names to hotels; new age guru Deepak Chopra will helm a spa retreat; and homegrown hotel chain Banyan Tree and Angsana Spas will run its first villas in the proposed resort.

It will also be home to Toy Box, where the ultra-rich can buy a private jet or a Rolls-Royce.

The 5,000 seat Pele stadium will have a football school, where soccer legend Pele will be a frequent visitor.

Families looking for some fun will have 35 rides and attractions to pick from. The resort will not charge entry fees, but will do so for individual rides.

All in, the ten hotels on the site will offer 2,100 hotel rooms, a casino, conference facilities and 50 restaurants.

There are plans to build Ocean Planet, a zone on Harry’s Island with 60,000 square feet dedicated to marine conservation, education and research grouped under Ocean Planet Institute.

The institute will be helmed by Philippe Cousteau, the grandson of legendary ocean explorer, conservationist and scientist, Jacques-Yves Cousteau.

The Eighth Wonder consortium expects its resort to create 15,000 permanent jobs and pull in 15 million tourists by 2014.

8 December 2006
 
Asia One
Genting wins Sentosa IR deal
Its compelling proposals meet S'pore's vision of a family resort to attract locals and repeat tourists

After months of publicising their holiday resort and casino proposals and wooing the high-level selection panel in a hotly contested bid to build and run the Sentosa Integrated Resort, Genting International- Star Cruises has emerged the winner with its S$5.2 billion project, Resorts World at Sentosa.

The announcement came today, two months after the tender closed on Oct 10.

The group, led by the Malaysian gaming and entertainment giant, and which also has Universal Parks and Resorts as a non-equity partner, was all along fancied by analysts and the local media as the one to clinch the mega-billion-dollar deal. The other contenders were Eighth Wonder and Kerzner-CapitalLand. In AsiaOne's own poll on who would win, of the 241 readers who responded, 42.7 per cent picked Genting, 24.9 per cent preferred Kerzner-CapitaLand and 19.5 pee ent Eighth Wonder.

The winning group will operate under Infinity@ The Bay Pte Ltd, a joint venture company between Genting International and Star Cruises.

It beat its equally robust contenders in a contest which placed emphasis on four key areas - tourism appeal and contribution (45 per cent), architectural concept and design (25 per cent), investment quantum (20 per cent) and strength of consortium and partners (10 per cent).

The panel of seven Singapore ministers, in consultation with local and international experts in different aspects of the project, gave Genting's integrated dome-and-block resort, designed by renowned New York architect, Michael Graves, high marks in these areas.

But the panel members all said submissions by the other two contenders were of "high quality" and impressive and thanked them for their "tremendous efforts and resources."

Other than the fact that this win is bound, in some ways, to strengthen Singapore-Malaysia ties, Genting's trump card was that it has the most effective formula to ensure that Singapore would attract large numbers of new and repeat visitors, as well as to cater to family entertainment.

The selection panel estimated that Genting's Resorts World at Sentosa will complement the Marina Bay IR, awarded to Vegas Sands in May. The estimated economic contribution of Genting's proposal will be largely similar to that of Marina Bay Sands, which is about S$2.7 billion in value-added contribution to Singapore's GDP or about 0.8 per cent of the GDP and generate about 30,000 jobs throughout the economy in 2015.

Marina Bay Sands is expected to be operational by 2009 or 2010, and Resorts World at Sentosa by 2010.

Among its proposals, Genting had laid out plans on the 49-ha Sentosa waterfront site for a casino complex with a total of 1,830 rooms, Universal Studio rides through theme parks and the world's largest aquarium and open entertainment areas.

Deputy Prime Minister Professor S Jayakumar, in announcing Genting's success at a media conference at 5.30 pm today, spelt out how the selection process was carried out.

He said: "We envisage the Sentosa Integrated Resort to be a family-oriented resort which is anchored by unique and compelling attractions which offer the whole family a fun and memorable experience."

The key attractions, he added, should be of significant scale, draw a large number of new visitors to Singapore and who will extend their stay here.

"Our expectations are also to generate significant economic benefits, especially job creation and an increase in tourism receipts," he stressed.

Prof Jayakumar said all three bidders submitted high-quality proposals "which we strongly believe reflected their commitment in developing a world class IR in Sentosa."

He said Genting won because it offered the most compelling proposals that best meet Singapore's economic and tourism objectives, and also its vision for the IR as a large-scale family resort.

Panel member Lim Hng Kiang, Minister for Trade and Industry, said Genting's Universal Studio Singapore will be a sizeable theme park - comparable to Universal Orlando and larger than Universal Studio Hollywood.

He also said Genting's licensing agreement with Universal is for 30 years, with exclusivity rights for the whole Southeast Asian region.

Mr Lim listed Quest Marine Life Park, The Equarius Water Park and the Maritime Xperiential Museum as major attractions, together with entertainment attractions - theatre shows for a total of 1,600 people.

Said Mr Lim: "Both Marina and Sentosa IRs complement each other very well and the two Rs will allows us to stimulate the growth of two visitor segments and bring us closer to our 2015 tourism targets."

National Development Minister Mr Mah Bow Tan, the other panel member who spoke, touched on the design and architecture side of the project. He said: "Architecture and design were among the key criteria. The winning proposal has to fit well into the context of Sentosa as well as the development on the other side of the harbourfront precinct."

He said it should also have attractive design concepts to add value to the island and its surroundings and inject vibrancy and buzz to the area by providing attractive public spaces and programming to bring life and activities to the waterfront.

Mr Mah said the panel's final decision was made with inputs from experts in design and architecture, both local and international.

The media were also told that all three proposers had the opportunity to present their proposals to the government's Tender Approving Authority after tenders closed. They later separately met the Tender Evaluation Commiteee (TEC), chaired by Mr Lim Siong Guan, chairman of the Economic Development Board, which had conducted the detailed evaluation of the proposals.

On winning the bid, Mr Lim Kok Thay, chairman of Genting International and Star Cruises, said in a statement."We are extremely delighted to have been chosen and are very excited and honored to be entrusted with the great task of taking Singapore's tourism sector to the next level. It will change the face of tourism in the region. We are confident that by 2010, Resorts World at Sentosa will attract 15 million visitors."

One of Genting's pledges was to have a research centre within the IR and it named marine biologist Dr Craig Venter as the man to head this Research Centre. Dr Venter who has been round the world studying the rich diversity of marine life is set to start ground-breaking research into the microdiversity of Southeast Asian waters.

Genting had said its IR would pull in 10 million visitors by 2015, generating an estimated S$15 billion in tourist receipts.

It also pledged to build the world's largest oceanarium - Quest Marine Life Park featuring 700,000 aquatic animals and the world's largest collection of coral reef and open ocean fish. This attraction would be spread over 8 hectares. This oceanarium will have areas where visitors can be submerged in water in cages to watch or feed whales and tiger sharks.

There is also the Equarius Water Park with exciting water rides. Designed by Forrec Limited of Canada, the park will have, among other features, a 450m water flume, or water coaster rides, winding through tree-tops, a surf pool that generates various kinds of waves, and also a water-based adventure zone.

There will also be a Maritime Xperiential Museum dedicated to the heritage of Asia - the Asian voyages of discovery and a chronicle of global trade in the region and beyond. Also, in this museum will be a theatre, a 360-degree multimedia experience where visitors board an Arabia-bound vessel which sank near Singapore 1,100 years ago.

The Universal Studios part of the IR will have 22 feature attractions, many unique to Singapore, with features such as live studio with soundstage as well as back lots for movie and television productions. It is likely that in future some Hollywood productions may head this way.

As for the shopping areas, the resort will have brand names such as Cartier, Nike, Zara, Massimo, Dutti and Bershka. Hamley's, the popular toy retailer will set up its first store here outside Europe.

Three main sections of the IR will be Hotel Michael, and Maxim's Residences and a casino which will be located underground. Genting/Star cruises will have six hotels with a total of more than 1,800 rooms.

Star Cruises' major role in this enterprise is to woo its international customers with tour packages that includes stops at the Sentosa IR.

Contender Kerzner-CapitaLand which had planned to invest S$5.28 billion and pull in 10 million tourists in its first year of operations, hoped to impress through its central theme based on its futuristic re-creation of the Lost City of Atlantis, resuscitated in the year 3000 through architect Frank Gehry's dramatic glass structures. It had promised nine main attractions, from a coral dive lagoon to public artworks, 14 fun rides and a huge Aquaventure water theme park.

Dark horse, Eighth Wonder, with a lack of casino experience, had submitted the highest bid of S$5.5 billion and pledged to pull in 15 million tourists by 2014.

8 December 2006

BBC News
Second Singapore casino approved
Singapore expects that casinos will boost tourism in the city-state

Singapore has chosen Malaysian firm Genting International to build and operate the nation's second casino.
The proposal by Genting and its sister firm, Star Cruises, was favoured over rival bids by Bahamas-based Kerzner and a consortium led by a Las Vegas firm.

Analysts said Genting's $3bn (£1.6bn) bid was expected to win because of its tourist-friendly plan to include a Universal Studios theme park.

Singapore awarded its first casino licence in May to Las Vegas Sands.

Singapore aims to attract Asian gamblers and boost tourism revenues.

Regional expansion

Singapore overturned a long-running ban on casino gambling last year, as part of efforts to double visitor numbers to 17 million by 2015.

At present, most of the region's gambling industry is centred on Macau, the Chinese special administrative region and former Portuguese colony, down the coast from Hong Kong.

Analysts said Thailand and Japan were now likely to build their own large casinos as the gambling industry opened up.

Genting was one of the unsuccessful bidders for Singapore's first casino licence, but won out this time with its plans for a large-scale family resort including a water park and maritime museum.

It already runs the Genting Highlands development in Malaysia.

8 December 2006

Asia One
Genting wins bid to build Sentosa integrated resort
Its proposal is the "most compelling" overall and best meets Singapore's economic and tourism objectives

After months of pitching their island resort proposals and wooing the selection panel in a hotly contested bid to build and run the Sentosa Integrated Resort, Genting International- Star Cruises, led by the Malaysian gaming and entertainment giant, emerged the winner with its S$5.2 billion project, Resorts World at Sentosa.

The announcement came today, two months after the tender closed on Oct 10, and after what Deputy Prime Minister S. Jayakumar described as a "very careful and rigorous" evaluation process.

Prof Jayakumar told a packed media conference on Sentosa that Genting was picked over the other two contenders - Kerzner-Capitaland and Eighth Wonder - because it "submitted the most compelling proposal, overall, that best meets our economic and tourism objectives.

"In particular, their proposal reflects our vision for the Sentosa IR as a large scale family resort, with its host of world class family leisure attractions and other strong offerings. We believe their attractions will position Sentosa as a premier island resort for families and draw a significant number of new and repeat visitors to Singapore."

The group, which also has Universal Parks and Resorts as a non-equity partner, was all along fancied by analysts and the local media as the one to clinch the mega-billion-dollar deal not long after it revealed its plans.

It beat its equally robust contenders in a contest which placed emphasis on four key areas - tourism appeal and contribution (45 per cent), architectural concept and design (25 per cent), investment amount (20 per cent) and strength of consortium and partners (10 per cent).

The panel of seven Singapore ministers gave Genting-International's integrated dome-and-block resort, designed by renowned New York architect, Michael Graves, high marks in these areas.

One of Genting-International's pledges was to have a research centre within the IR and named marine biologist Dr Craig Venter as the man to head this Research Centre. Dr Venter who has been round the world studying the rich diversity of marine life is set to start ground-breaking research into the microdiversity of Southeast Asian waters.

Genting had said its IR would pull in 10 million visitors by 2015, generating an estimated S$15 billion in tourist receipts.It also said it would create 45,000 direct and indirect jobs after the IR starts operations. With its long experience in this area and with Universal's track record of drawing in the crowds, this was a major winning point.

Genting-International also pledged to build the world's largest oceanarium - Quest Marine Life Park featuring 700,000 aquatic animals and the world's largest collection of coral reef and open ocean fish. This attraction would be spread over 8 hectares. This oceanarium will have areas where visitors can be submerged in water in cages to watch or feed whales and tiger sharks.

There is also the Equarius Water park with exciting water rides. Designed by Forrec Limited of Canada, the park will have, among other features, a 450m water flume, or water coaster rides, winding through tree-tops, a surf pool that generates various kinds of waves, and also a water-based adventure zone.

There will also be a Maritime Xperiential Museum dedicated to the heritage of Asia - the Asian voyages of discovery and a chronicle of global trade in the region and beyond. Also, in this museum will be a theatre, a 360-degree multimedia experience where visitors board an Arabia-bound vessel which sank near Singapore 1,100 years ago.

The Universal Studios part of the IR will have 22 feature attractions, many unique to Singapore, on a 49ha plot with features such as live studio with soundstage as well as back lots for movie and television productions. It is likely that in future some Hollywood productions may head this way.

Universal Parks and Resorts CEO Tom Williams had said on Oct 16 that the rides could be tied into movies such as King Kong, Jurassic Park, The Mummy, Shrek and Spiderman. He said that when Universal opened in Japan, it attracted 11 million visitors in its first year.

As for the shopping areas, the resort will have brand names such as Cartier, Nike, Zara, Massimo, Dutti and Bershka. Hamley's, the popular toy retailer will set up its first store here outside Europe.

Three main sections of the IR will be Hotel Michael, and Maxim's Residences and a casino which will be located underground. Genting/Star cruises will have six hotels with a total of more than 1,800 rooms. This includes , Hard Rock Hotel, a haven for families and a six-star hotel, ESPA Villas. There will be a luxury spa which will be the region's first fully integrated wellness spa with facilities for people recovering from surgery and injuries. Hotel Michael will be designed by award-winning American architect Michael Graves who is also a designer. All furniture and finishings in this bouquet hotoel will be done by him.

Star Cruises' major role in this enterprise is to woo its international customers with tour packages that includes stops at the Sentosa IR.

The open areas in the IR will see entertainment by street performers and a waterfront light show.

With the water theme prominent in this project, most of theattracttions will be linked by canals and and covered walkways. Shelters and shaded areas will predominate to cater to the inclination of Singaporeans and many Asians to prefer shade to open sunshine.

The group's chairman Lim Kok Thay spiced up the deal by promising on Oct 16, that the group will continually re-invest more than $200 million every year to ensure that the resort remains "fresh, appealing and at the cutting edge of tourism innovation."

He also said the resort complex would be well-designed, be easily accessible but not edgy.

Marina Bay IR - people had expected the government-linked consortium led by capitalLand or Keppel Land to win but the award went to underdog Las vegas sands.

As the day approached for the announcement on who had won, all three contenders met the media frequently, each out to impress that its concept was the best for Singapore.

On Nov 28, Genting's chairman Lim Kok Thay said that the total number of tourists who visited Universal Studios, Genting Highlands, Star Cruises and Stanley Leisure totalled some 71 million over the past 12 months.

Mr Lim told the media: "So, if tourists are what Singapore wants for the integrated resort, we believe our submission will be able to more than satisfy what Singapore wants."

8 December 2006

Asia One
Bilateral relations was not a factor in awarding Genting the Sentosa IR licence

Malaysia's Genting International won the bid to build Sentosa integrated resort purely on the merits of its well-conceived proposal, and bilateral relations did not influence the evaluation process, said Singapore's Deputy Prime Minister Professor S Jayakumar this evening.

He told a packed news conference at Sentosa that Genting was awarded the licence because its proposals best met the government's vision for Sentosa to be a large-scale family resort.

''We judged on the basis of the criteria we had set out when the proposals were invited. Bilateral relations was not a factor in the evaluation of the proposals. Genting was selected because overall it provided the best proposal,'' said Prof Jayakumar, who chaired the government's Tender Approving Authority.

''Let me add that now that Genting has been selected, we look forward to working with them to develop a world-class resort on Sentosa.''

The DPM said that he expects the Malaysian company's developing the Sentosa IR ''to further he strong economic ties between the two countries''.

In response to another question, he said that regardless of whether the winning bidder had a local partner or not was similarly not a factor in deciding the winning bider for the Sentosa IR or the Marina Bay IR awarded in May.

''Whether there was a local partner or not, was not a factor in the evaluation process... the judgement and evaluation was on the set criteria,'' he said.

Prof Jayakumar added that the process of picking the winner for the Sentosa IR was ''very similar'' to the process undertaken earlier this year for finding the winner for the Marina Bay IR.

Asked to rank the three contenders for the Sentosa IR and how the ministerial panel had voted, he said it was not Singapore's practice to make public details of its decision-making process.

However, both the tender approving authority comprising ministers, and the tender evaluation committee, consisting of top civil servants, had both been in favour of Genting, he added.

8 December 2006

Bloomberg News, Reuters, The Associated Press
Genting wins Singapore casino license

SINGAPORE: Singapore awarded its second casino resort contract Friday to Genting International, whose proposal of a venture worth 5.2 billion Singapore dollars is intended to lure thousands of visitors with a Universal Studios theme park and a huge outdoor marine park.

Genting, which runs two casinos in Malaysia, had joined with Star Cruises in its bid against the Las Vegas-based Eighth Wonder and Kerzner International to build and operate the resort. The project is scheduled to open in 2010 on a site of 49 hectares, or 121 acres, on Sentosa Island.

Singapore's deputy prime minister, S. Jayakumar, said at a news conference that Genting had provided "the most compelling proposal over all that best meets our economic and tourism objectives." He added, "We wanted a large-scale family-oriented resort that would draw a large number of new visitors to Singapore."

Kerzner International had joined with CapitaLand, Southeast Asia's largest property developer, to submit a 3.3-billion-dollar concept with designs by the architect Frank Gehry. Eighth Wonder, headed by the resort builder Mark Advent, had put in the most expensive bid at 3.5 billion dollars with its partners. They were Isle of Capri Casinos, James Packer's Publishing and Broadcasting, and Melco International Development, which is controlled by Lawrence Ho, the son of e Stanley Ho, a Macao gambling entrepreneur.

Singapore reversed its decades-old ban on casino gambling last year in an attempt to double visitor arrivals to 17 million by 2015. The first contract was awarded in May to Las Vegas Sands, which plans to open its casino resort by July 2009.

For the second casino, the government evaluated the proposals based on tourism appeal, architectural design, level of investment and strength of the bidding consortium and partners.

When Singapore ended the ban on gambling to help shed its straight-laced image and lure more of the 2.5 billion people who live within seven hours' flying time of the island. Competition from Hong Kong, where Walt Disney opened a theme park in 2005, and Macao, the only place in China where casinos are legal, may frustrate the city's plan to triple revenue from tourism by 2015.

Genting's casino resort is central to the government's 12-billion-dollar redevelopment of Sentosa, which means "peace and tranquillity" in Malay and is connected to Singapore by a 710-meter, or half-mile, causeway. Singapore is not alone. Macao, which could overtake the Las Vegas strip as the world's largest gambling hub this year, expects to open at least four more casinos in 2007. Casinos in Macao collected $3.1 billion in gambling revenue in the six months ended June, more than in the whole of 2002, according to the city's Gaming Inspection and Coordination Board. The Las Vegas strip collected $3.3 billion in the same six-month period, according to the Nevada Gaming Control Board.

Genting's chief executive, Lim Kok Thay, is hoping that the Singapore project will help the company leapfrog Las Vegas-based Harrah's Entertainment and Wynn Resorts to become the world's third-largest gambling operator by market value.

Winning the bid also extends the geographic reach of Genting, which is owned by one of Malaysia's richest families. The company took control of Stanley Leisure this year, giving it access to the customers of the biggest British casino operator. It also owns Star Cruises, Asia's largest cruise line and a partner in the Sentosa bid, and Genting Highlands, a cluster of hotels around casinos on a mountain near Kuala Lumpur, where the company is based.

Singapore's government has said it will not offer another casino license for at least a decade. It also says the casinos will be heavily regulated, and is imposing measures to curb problem gambling, including a 100-dollar-a-day levy on citizens and permanent residents entering the gambling rooms.
 

8 December 2006

Reuters
Genting to fund 2/3rds of Singapore casino via debt

Malaysia's Genting Bhd. said on Monday it would finance two-thirds of its S$5.2 billion (1.7 billion pound) casino project using bank loans.

The company said in a statement the remaining one third would be funded through equity.

The conglomerate, bidding through affiliates Genting International and cruise operator Star Cruises Ltd, on Friday secured a 30-year concession to run a casino on Singapore's resort island of Sentosa.

The 49-hectare project would include movie-based roller-coaster rides built by theme parks giant Universal Studios and would have six hotels with a total of 1,830 rooms.

The casino, set to open by early 2010, is the second of two planned gaming resorts that Singapore hopes will almost double tourist arrivals to 17 million people and triple tourism receipts to S$30 billion ($19 billion) by 2015, giving its trade-dependent economy a new source of growth.

Following Friday's announcement that Genting had won, ratings agency Moody's Investors Service affirmed the company's A3 ratings and said the outlook was stable.

Moody's analyst Kaven Tsang said that while the new casino project would raise Genting's exposure to development and execution risks as well as capital needs in the medium term, it would also strengthen the company's regional coverage and competitive position.

"Moody's believes that the increased risk profile is manageable in view of Genting's track record," Tsang added.

In May, U.S. gaming giant Las Vegas Sands (NYSE: LVS - news) <LVS.N> won the bid for Singapore's first casino resort along its downtown waterfront. That one is expected to cost more than $3.2 billion, and is set to open by late 2009 or early 2010.

8 December 2006

Channel NewsAsia
Genting International-Star Cruises consortium lands Sentosa integrated resort project

SINGAPORE: The Genting International-Star Cruises consortium has aced the Sentosa integrated resort project.

The result, just announced by Deputy Prime Minister Professor S Jayakumar at a news conference, came as no surprise as analysts had picked Genting as a frontrunner right from the start.

Its $5.2b Resorts World At Sentosa will leverage on international brand names like Universal Studios, which will design 16 new rides specially for the resort.

Besides the Universal Studios theme park, there will also be 3 other water-themed attractions, including a surf pool.

Visitors will be able to observe some 700,000 fish species in one of the world's largest oceanariums.

Genting's proposal also includes six hotels and a spa with over 1,800 rooms for both leisure and business travellers.

Earlier, market watchers had picked Genting as a favourite to win due to its Asian experience.

The resort is expected to attract 10 million visitors and generate $15 billion in tourism receipts by 2015.

The Sentosa integrated resort is expected to be ready in 2010. - CNA /dt

8 December 2006

CNA
The winning elements in Genting's Resorts World at Sentosa

The bid by Infinity@The Bay Pte Ltd, a Joint Venture Company between Genting International & Star Cruises (“Genting? to develop the Integrated Resort (IR) on Sentosa, has been described an excellent IR development that will strengthen Singapore’s overall appeal to visitors, positioning Sentosa and Singapore firmly as a top-of-mind, fun and exciting family destination.

In a news release, the Singapore Tourism Board said that the bids received from Genting, Kerzner CapitaLand Integrated Resorts Pte Ltd and Eighth Wonder Pte Ltd underwent rigorous evaluation of both the qualitative and quantitative factors, and Genting had submitted the best proposal overall.

The Resorts World at Sentosa design is a collection of resorts within a resort so visitors can have a multi-resort experience.

The anchor family leisure attractions include The Universal Studios Singapore Theme Park, The Quest Marine Life Park, The Equarius Water Park, The Maritime Xperiential Museum, and other entertainment offerings located along FestiveWalk.

Universal Studios will have its largest theme park in Asia at Resorts World at Sentosa offering 22 attractions within seven themed worlds, of which 16 will be specially designed for Singapore.
It will be developed at the east side of the IR site, using the theme “Ride the movies?and the attractions will be comparable to those found in Universal Studios Orlando and Islands of Adventure.

There will be seven themed worlds within Universal Studios Singapore namely: Waterworld, Lost World, Egypt, Super Hero City, Back Lot-The Big Apple, Hollywood Boulevard and Cartoon Studios.

Key highlights include the all-new “Journey to Madagascar?attraction and the Dreamworks Digital Animation Studios which will showcase the cutting edge of movie-making and real-time animation.

Resorts World at Sentosa will also offer other family entertainment experiences such as Quest Marine Life Park an oceanarium spanning 8 hectares with the largest single marine tank in the world, a 6.5 million gallon Whale Shark Lagoon, and interactive dolphin habitat, operated by the world-renowned Dolphin Quest.

Other attractions include the 1.3 hectares Equarius Water Park which is a water theme park custom-designed to integrate with the hillside terrain of Sentosa and a Maritime Xperiential Museum set at the waterfront.

This is expected to be the world’s first maritime silk route museum, dedicated to the subject of the maritime silk route between East Asia and the Middle East and will house the world’s first historical research centre dedicated to the subject. There will also be exhibits such as a full-scale glass replica of an ancient trading ship, a 360-degrees multimedia motion shipwreck theatre as well as live performances by acrobats on-board the ‘Bao Chuan?(Zheng He boat).

There will also be entertainment along the retail, dining and entertainment precinct of FestiveWalk, three public amphitheatres: The ShowPlace, an open-air 2,150 seat public amphitheatre; The Bull Ring, a 6,300 seating capacity amphitheatre; and Imagineering, a 1,714 seating capacity theatre which provides a magical dreamlike show with water, light and visual effects.

Visitors will also be able to catch the Crane Ballet, a showcase of multi-media moving art with choreographed animatronic crane dances nightly at the Festivewalk, with colourful streams of light, water and fire, all in sync with music and enhanced with video images on giant LCD screens.

Resorts World at Sentosa will also feature a resident show ?‘Le Vie?(Life)which is put together by members from the same creative team behind the Cirque du Soleil blockbusters such as ‘KA?and ‘O?in Las Vegas.

There will be a total of six hotels offering 1,830 rooms including a first-in-the-world hotel - Hotel Michael - designed by award-winning architect, Michael Graves.

In addition, there is the ESPA Spa centre, offering programmes for wellness and self-improvement as well as 42 private ESPA Villas.

Visitors will also be able to be entertained at signature gourmet restaurants with Masterchefs such as Alain Fabregues, Alan Wong, Scott Webster, Marlon Abele-MARC Group, Gary Kunz, Harlan Goldstein, Susur Lee, Luke Mangan and Don Pintabona.

STB said the overall composition of buildings, form and massing responds well to the existing fabric of Sentosa.

The architecture is human scale with a village-like festive ambience. The site is well laid out, providing visitors with a clear visual orientation to key attractions and facilities.

What made the Resort devlopment attractive was the responsiveness to the tropical climate with extensive use of water, landscaping and materials such as stone and wood.

Most of the major attractions are designed with canopies, covered walkways and landscaped features to enhance visitors' experience in all-weather condition and there's been attractive night lighting to highlight the architectural features of the individual buildings and character of different zones.

There will be meeting facilities to host approximately 12,000 delegates in 3 key venues, namely; 1,600 theatre-style seating Le Vie Showroom / Plenary Hall , a 7,300 theatre-style seating Ballroom and 22 Meeting Rooms capable of hosting more than 3000 people.

In addition, there are seven indoor venues as well as 10 outdoor incentive venues.

There will also be flagship concept retail stores including new retail brands not currently in Singapore such as Bershka, Stradavarius, Cortefiel, Promod, as well as The Universal Store and Hamleys toy store. cna/sf

8 December 2006

CNA
Genting "ecstatic" over winning bid for Sentosa IR

Ecstatic, extremely delighted, very excited and honoured.

The Genting International-Star Cruises Consortium used these choice words to sum up their feelings on the Friday evening announcement by the Singapore government that the Genting consortium had won the tender to develop the Sentosa Integrated Resort.

In a news release the Genting International-Star Cruises Consortium
said that it was ecstatic that Singapore accepted its proposal to develop Resorts World at Sentosa.

“We are extremely delighted to have been chosen and are very excited and honoured to be entrusted with the great task of taking Singapore’s tourism sector to the next level,?said Lim Kok Thay, Chairman of Genting International and Star Cruises.

“We have the means and ability to shift the paradigm of tourism here and look forward to contribute to the next chapter of Singapore’s tourism success story.?

Resorts World at Sentosa, will be launched by early 2010 and Lim said “The Consortium promises to deliver an integrated resort that
Singaporeans will be proud of, one that will contribute significantly to the local economy and community.?

“In three years, visitors will experience first-hand Resorts World at Sentosa,
the global tourism icon that we envision it to be. It will change the face of tourism in the region. We are confident that by 2010, Resorts World at Sentosa will attract 15 million visitors.?

Genting has committed a development investment of S$3.85 billion.
Together with the land price and other associated capital costs, the total investment by Genting is S$5.2 billion. Genting is expected to generate about $2.7 billion to Singapore’s annual Gross Domestic Product and about 30,000 jobs throughout the economy by 2015. cna/s

8 December 2006

Channel NewsAsia
Integrated resorts will boost and fundamentally change Singapore's economy

SINGAPORE: Malaysia's Genting International says it is ecstatic that the Singapore government has accepted its proposal for the Sentosa Integrated resort which will be called Resorts World at Sentosa.

The casino, cruise and entertainment park operator likened its proposal as a "must see, must visit" family resort.

Analysts say there is much for Singapore to cheer as well.

Besides getting a Universal Studios theme park at its doorstep, the new integrated resort, together with the Marina Bay Sands, will boost Singapore's economy and fundamentally change its tourism industry.

After a tight race, the Sentosa project was finally awarded to Infinity@The Bay - the joint venture company of Genting International and Star Cruises.

The win is expected to have a positive impact on Star Cruises' cruise centre operations which is located just across the water from the Sentosa site at HarbourFront.

With a total of four theme parks and six hotels planned, Resorts World at Sentosa is expected to create some 10,000 new jobs.

Analysts believe the integrated resorts will be able to successfully attract more tourist arrivals, not only from the region but also from the rest of the world.

Song Seng Wun, Regional Economist at CIMB-GK Research, says: "Together with the development in Sentosa in terms of more luxury homes attracting a whole new level of visitors or residents here, perhaps it will create higher value-added hospitality-related spin-offs for the economy."

As part of its Tourism 2015 targets, the Singapore government hopes to draw in 10 million visitors in 2015 and generate an estimated S$15 billion in tourist receipts.

"We may not get the 25 million visitors that Hong Kong gets, but if the 10 or 15 million visitors we get spend more per head, that would have much more significant impact on the services sector, hospitality-related sector than any of the single-event before that. To me, the award of IR probably marked the potential of reshaping the tourism sector in Singapore in the years to come," says Mr Song.

Economists predict the Singapore economy could grow between 6.5 to 7.5 percent when the resorts are operational from 2009.

The construction sector is also expected to benefit by growing 10 to 15 percent on year from now to 2009.

8 December 2006

Channel NewsAsia
Genting-Star Cruises consortium wins Sentosa integrated resort project

SINGAPORE: The Genting International-Star Cruises consortium has aced the Sentosa integrated resort project.

The result, just announced by Deputy Prime Minister Professor S Jayakumar at a news conference, came as no surprise as analysts had picked Genting as a frontrunner right from the start.

Its S$5.2 billion Resorts World At Sentosa will leverage on international brand names like Universal Studios, which will design 16 new rides specially for the resort.

Besides the Universal Studios theme park, there will also be three other water-themed attractions, including a surf pool.

Visitors will be able to observe some 700,000 fish species in one of the world's largest oceanariums.

Genting's proposal also includes six hotels with over 1,800 rooms for both leisure and business travellers.

Earlier, market watchers had picked Genting as a favourite to win due to its Asian experience.

The resort is expected to attract 10 million visitors and generate S$15 billion in tourism receipts by 2015.

The Sentosa integrated resort is expected to be ready in 2010.

The judging panel, made up of seven ministers, explained their decision.

"Genting submitted the most compelling proposal overall that best meets our economic and tourism objectives. In particular, the proposal reflects our vision for the Sentosa IR as a large-scale, family resort with its host of world-class family leisure attractions and other strong offerings. The attractions will position Sentosa and draw a significant number of new and repeat visitors," said Prof Jayakumar.

The Deputy Prime Minister added that the Singapore government evaluated the high-quality proposals carefully, before deciding that Genting fulfilled the key criteria such as the family leisure component of 22 attractions for the upcoming Universal Studios Singapore.

This will make it comparable to the theme park in Orlando, Florida.

However, the decision also boiled down to hard-nosed calculations.

"The total project investment is S$5.2 billion, which includes the land cost of S$605 million. We made a projection and the economic contribution of Genting's contribution will be largely similar to the Marina Bay Sands proposal, which is about $2.7 billion in value-add contribution to our GDP or approximately 0.8 percent contribution to the GDP and generate about 30,000 jobs throughout the economy in the year 2015," said Trade and Industry Minister Lim Hng Kiang.

The panel said they believe the two integrated resorts at Marina and Sentosa will complement each other very well, and allow Singapore to stimulate the growth of its meetings and conventions segment as well as the leisure segment to bring Singapore closer to its Tourism 2015 targets.

During the question and answer session, the panel was also asked if there had been any political influence after Malaysian Deputy Prime Minister Najib Tun Razak made a plug for greater co-operation between Singapore and Malaysian companies.

Prof Jayakumar refuted this - saying the decision was made based on the merit of the proposal and not on the issue of bilateral ties.

"Genting was selected because overall, it presented the best compelling proposal in light of the RFP requirements and this was the decision of the TAA and the tender evaluation committee and so bilateral relations was not a factor. Let me say that now that Genting is successful, we look forward to working with them to develop a world class IR and I'm sure this will bolster the strong economic ties between two countries," he said. - CNA /dt

8 December 2006

All Headline News
Singaporean School Trains Future Casino Dealers

Casino Royale it is not. The country's first casino school is preparing to train the future staff of the much-awaited gambling era in the small city-state.

The country will see the casino boom by 2009 with the construction of two casino resorts. The new establishments are expected to bring in more than $1.4 billion dollars a year for Singapore and will need a minimum of 35,000 staff to run them.

Freshmen at the Club Gambling Training Center study the arts of sorting chips, spinning roulette balls and shuffling decks of cards. The first crop of graduates are expected to finish by January.

Ramachandar Siva, the school's director, has high standards for the six-month training courses, which cost about $3,300 dollars to take. "We not only teach dealing techniques, but we also advise our students how to handle gamblers who have just lost their shirts," he says. "Don't joke about players' losses, not even after work, because he might eventually learn about it," Siva warns. The students are also prepped on various cheating tricks so that they may be able to spot them. "Many casinos are not doing that because they are afraid croupiers might teach those tricks to their uncles," Siva smirks.

Singapore's casino laws are strict and gambling houses are required to name addicted gamblers who need help.

6 December 2006

Channel NewsAsia
Underwater World open to working with winner of IR bid as it launches new attractions

SINGAPORE: Sentosa's Underwater World says it is open to working with the winner of the integrated resort as it launches three new initiatives on Wednesday.

The latest attractions at Underwater World include a species of shrimp and eel found in tropical reefs of Southeast Asia as well as sea animals known for their stings.

It hopes these attractions will help increase the number of visitors by 5 to 10 percent a year and differentiate itself from other competitors in the market.

With 1.6 million visitors last year, increasing the number of visitors can lead to a significant rise in profits.

The new attractions are also a chance for the park to promote itself ahead of the multi-billion dollar integrated resort announcement.

Kwek Meng Tiam, General Manager of the Underwater World, says: "Competition is everywhere, within Singapore and out of Singapore. So what we do is, we will introduce a new display frequently to stay relevant and sharpen our competitive edge."

Mr Kwek also hopes for some beneficial spill-over effect with the establishment of the Sentosa IR and expresses that "there's always chance of co-operation".

Even so, the management says any partnership would be based on who the winner of the bid is.

But for visitors it is all about having fun - like visiting the new spa where thousands of small fish are "activated" to clean their feet. - CNA/so

6 December 2006

Business Times
Tight race seen among bidders for Sentosa IR
However, S'pore stock market's favourite appears to be Genting Int'l

(SINGAPORE) With the race for the Sentosa integrated resort (IR) in the home stretch, Genting International and Kerzner/CapitaLand are still seen as the front-runners, though some analysts rate Eighth Wonder an outside chance.

The IR winner is expected to be announced this week. And unlike the tender for the Marina Bay IR - when most gaming analysts (wrongly) tipped Harrah's Entertainment/Keppel Land as clear winners - the Sentosa contest is seen as tight. Some analysts rank all three bidders equally, with Eighth Wonder having thrown off its earlier dark horse tag.

Wallace Chu of DBS Vickers says all three have put in 'strong bids'. But he is still betting on Genting International - and does not expect any surprise.

'The difference between the Sentosa tender and the Marina Bay tender is that this round is more transparent, with the bidders prepared to reveal more of their bid,' he said.

Eighth Wonder has, perhaps, revealed the most, helping to boost its status in the eyes of gaming analysts. Its eclectic mix of football, yoga, wedding dresses and haute cuisine at the proposed Harry's Island convinced analysts at Merrill Lynch - staunch believers in Genting International - to score it only slightly lower than Kerzner/CapitaLand and Genting International in a recent report.

Based on the four criteria outlined in the Request for Proposals (RFP) - tourism appeal, architecture and design concept, investment sum, and strength of consortium - the bidders scored 79, 82 and 88 per cent respectively.

And while Merrill Lynch rated Genting's 'market knowledge' highly, it did not rule out Eighth Wonder's partner Melco PBL Entertainment's clout in the region, merely questioning the size of the partner's equity stake.

Jonathan Galaviz, a partner at Las Vegas-based leisure sector consultancy Globalysis, reckons it is hard to pick a winner on Sentosa. 'All bidders seem to have an equal chance of prevailing in this race due to the unique creativity of the proposals, combined with the close proximity of capital investment commitments.'

It is worth noting that all three bidders have chosen to emphasise their own brand of theme park attractions - even though this is not thought to have been a mandatory requirement in the RFP.

Mr Galaviz points out: 'Asian consumers have traditionally responded well to theme park concepts in international markets, but the new generation of Asian consumers will be looking for new types of entertainment tourism concepts based in Asia as well.'

The stock market here has responded by showing most interest in Genting International. Yesterday, close to 92.8 million shares were traded, following Monday's volume of 103.7 million shares. The share price fluctuated between a high of 47 cents and a low of 43 cents yesterday before ending at 44 cents, unchanged from Monday.

Trading in CapitaLand shares also surged due to late buying, with about 14 million traded. The share price swung between $6.45 and $6.20 before settling at $6.40, up 10 cents from a day earlier.

Even Eighth Wonder's non-equity partner Banyan Tree Holdings saw relatively high trading volume of 2.8 million shares, with the price increasing 1.5 per cent or two cents to $1.34 after hitting a high of $1.35 and a low of $1.32

5 December 2006

The Straits Times
Punters place their bets on favourites for IR deal
Genting is most active stock while CapitaLand hits new high of $6.30.

INVESTORS went on a betting frenzy yesterday over who will win the prized contract for Singapore's second integrated resort (IR), on Sentosa, due to be announced this week.

The action centred on two bidders: Genting International, which dominated trading, and CapitaLand, where a late flood of interest lifted the counter's price to a record high.

Genting was the most active stock as a heady volume of 103.7 million shares changed hands. Its share price rose 5.5 cents to 44 cents - its highest level since November last year. It is partnering Star Cruises, and Universal Parks and Resorts in the bid.

Merrill Lynch earlier wrote: 'We estimate a win on Sentosa would likely send the stock to 47 cents.'

NetResearch Asia managing director Kevin Scully commented that 'Genting seems to have the best IR concept'.

UOB Kay Hian research head Yang Sy Jian said: 'The market activity could be reflecting the market's strong expectations that Genting is the front runner, with the biggest chance of winning this project.'

CapitaLand traded unchanged at $6.15 for most of yesterday, but saw a huge push at the last minute with a trade involving 1.09 million shares that pushed its price up 15 cents to $6.30. About 8.8 million shares were traded in all.

CapitaLand hopes it will be second time lucky, after having lost out in the race for the Marina Bay site in May. It has teamed up with Bahamas-based casino operator Kerzner International.

Between January and end-May, CapitaLand shares had risen by nearly 30 per cent. Despite its Marina Bay loss, its price has climbed by another eye-popping 40 per cent since then.

Macquarie Securities head of warrant sales Barney Matthews said: 'CapitaLand has had a huge rally over the past five months...mostly due to the strength in Singapore property, positive announcements regarding its overseas ventures and the second IR announcement.' He said activity in CapitaLand structured warrants is likely to dominate the market this week, given the upcoming announcement.

Mr Scully said CapitaLand shares have already risen significantly above the $5 mark.

Once the building of the IRs is under way, CapitaLand's other interests such as hotels, shopping malls and residential projects are all set to get a boost - even if the group misses out again.

The third bidder, privately-held Eighth Wonder, is widely regarded as the dark horse. Mr Yang said: 'The market also seems to be looking at CapitaLand favourably, but if the dark horse wins the bid instead, this could have an impact on the market.' But he said that need not necessarily spell 'doomsday'.

"If Eighth Wonder could enhance the value of Sentosa, then there could be a spillover effect," he added. For example, Keppel Land's developments, such as The Caribbean, or the property projects at Sentosa Cove could benefit.

But those who bet heavily also stand to lose big in the short term. For instance, in the May race, those who put their money on CapitaLand or Keppel Land had a short-term shock. Together, the counters lost over $1 billion in market value in the first trading session after dark horse Las Vegas Sands was declared winner.

Also gaining yesterday were construction firms set to win contracts for the IR projects. One such firm was Yongnam Holdings, which soared 25 per cent to 12.5 cents. Rival builder BBR Holdings rose 6.3 per cent to 8.5 cents.

5 December 2006

SPH
Punters place their bets on favourites for IR deal
Genting is most active stock while CapitaLand hits new high of $6.30

INVESTORS went on a betting frenzy yesterday over who will win the prized contract for Singapore's second integrated resort (IR), on Sentosa, due to be announced this week.

The action centred on two bidders: Genting International, which dominated trading, and CapitaLand, where a late flood of interest lifted the counter's price to a record high.

Genting was the most active stock as a heady volume of 103.7 million shares changed hands. Its share price rose 5.5 cents to 44 cents - its highest level since November last year. It is partnering Star Cruises, and Universal Parks and Resorts in the bid.

Merrill Lynch earlier wrote: 'We estimate a win on Sentosa would likely send the stock to 47 cents.'

NetResearch Asia managing director Kevin Scully commented that 'Genting seems to have the best IR concept'.

UOB Kay Hian research head Yang Sy Jian said: 'The market activity could be reflecting the market's strong expectations that Genting is the front runner, with the biggest chance of winning this project.'

CapitaLand traded unchanged at $6.15 for most of yesterday, but saw a huge push at the last minute with a trade involving 1.09 million shares that pushed its price up 15 cents to $6.30. About 8.8 million shares were traded in all.

CapitaLand hopes it will be second time lucky, after having lost out in the race for the Marina Bay site in May. It has teamed up with Bahamas-based casino operator Kerzner International.

Between January and end-May, CapitaLand shares had risen by nearly 30 per cent. Despite its Marina Bay loss, its price has climbed by another eye-popping 40 per cent since then.

Macquarie Securities head of warrant sales Barney Matthews said: 'CapitaLand has had a huge rally over the past five months...mostly due to the strength in Singapore property, positive announcements regarding its overseas ventures and the second IR announcement.' He said activity in CapitaLand structured warrants is likely to dominate the market this week, given the upcoming announcement.

Mr Scully said CapitaLand shares have already risen significantly above the $5 mark.

Once the building of the IRs is under way, CapitaLand's other interests such as hotels, shopping malls and residential projects are all set to get a boost - even if the group misses out again.

The third bidder, privately-held Eighth Wonder, is widely regarded as the dark horse. Mr Yang said: 'The market also seems to be looking at CapitaLand favourably, but if the dark horse wins the bid instead, this could have an impact on the market.' But he said that need not necessarily spell 'doomsday'.

'If Eighth Wonder could enhance the value of Sentosa, then there could be a spillover effect,' he added. For example, Keppel Land's developments, such as The Caribbean, or the property projects at Sentosa Cove could benefit.

But those who bet heavily also stand to lose big in the short term. For instance, in the May race, those who put their money on CapitaLand or Keppel Land had a short-term shock. Together, the counters lost over $1 billion in market value in the first trading session after dark horse Las Vegas Sands was declared winner.

Also gaining yesterday were construction firms set to win contracts for the IR projects. One such firm was Yongnam Holdings, which soared 25 per cent to 12.5 cents. Rival builder BBR Holdings rose 6.3 per cent to 8.5 cents.

4 December 2006

Channel NewsAsia
Greater transparency and more disclosure in Sentosa IR bid

SINGAPORE: The race for the Sentosa Integrated Resort is turning out to be a high stakes game.

Analysts say greater transparency and more disclosures are what’s setting the bid for Sentosa apart from the Marina Bay project.

Details of the different proposals came thick and fast after the submission deadline on October 10.

Frontrunner Genting International is playing the Hollywood glitz and glamour card - offering tie ups with Universal Studios theme park and DreamWorks movie studios.

Kerzner-CapitaLand is firing up the imagination by roping in top architect Frank Gehry to design its attraction. Kerzner also laid out plans for a mega oceanarium and water theme park at its proposed Atlantis Sentosa.

Eighth Wonder launched a publicity blitz, introducing tantalising partnerships with celebrity chef Alain Ducasse, soccer legend Pele and fashion guru Vera Wang. Its proposal also includes a marine research facility and the world's largest living coral reef lagoon.

Such openness was missing in the bid for the Marina Bay project.

"Obviously for the Sentosa IR it's a bit more of a consumer leisure sector focus integrated resort whereas Marina Bay was more focused on the convention or business aspect of the tourism segment here in Singapore. One would see the logic in being able to understand why the proposers would be disclosing more information about their Sentosa IRs, because it's more focused on the consumer markets in Asia, said Jonathan Galaviz, Analyst, Globalysis.

The disclosures have stirred greater interest among the public which analysts say can only be good for the process.

It also overturns earlier perception that the Sentosa project will play second fiddle to its Marina Bay cousin.

The stakes, it seems are comparable, if not higher.

"One of the key reasons is that this is the last bid for the first phase of integrated resort license and there is an exclusivity clause of 10 years for this project, so being the last project that they are putting out for awhile, everybody took this very seriously," said Wallace Chu, Assistant Vice President, Equity Research, DBS Vickers Securities.

Some analysts expect a tight race for the project while others are betting on Genting. Whichever bidder wins, they say Singapore and even South East Asia will benefit, as the integrated resort will enhance the region's tourism appeal. - CNA /dt
 

3 December 2006

The Straits Times
Who will win?

Using the same criteria that the Government will use in judging the three bids for the Sentosa integrated resort, Krist Boo predicts the winner

IF YOU look beyond the one-upmanship and celebrity parade, the race to build the Sentosa integrated resort is about making a hard-nosed $5-billion investment.

It is not about getting the best looking, the most creative or the most visionary resort. It is about picking a team that can build and run a resort that will attract the most tourists and, by extension, generate the most tourism spending.

When the judging panel of seven ministers crowns the winner - which is likely to happen this week - its decision will be driven by hard-nosed calculations.

Singapore has already demonstrated such pragmatism when it awarded Marina Bay to Las Vegas Sands in May.

Sands was pitted against rivals touting local partners and glitzy entertainment stars, but its low-key proposal still won the prize. It announced only six celebrity chefs, an ArtScience Museum and a mall the size of Suntec City. But the judges ranked it tops because among the four bidders, it best addressed the tender requirements: to bring in convention visitors.

This time, the tender instructions are to draw leisure tourists. Out of 100 marks, 45 are allocated for this criterion.

A good architectural design is ranked second with 25 marks, followed by 20 marks for the level of investment and 10 marks for the financial strength of the bidders.

Based on the judging criteria, this is how I think the bidders will stack up:

Tourism appeal

ONE requirement here is how the winner will be effective in marketing the resort, which is expected to be completed in 2010.

With the casino expected to be the cash cow of the resort, it can be assumed that any marketing plan would involve not only attracting leisure tourists but also high-rollers.

Genting, whose parent company is Malaysia-based Genting Berhad, is the only one among the three that has operated in the Asian gaming and leisure market. Its recent acquisition of the UK's Stanley Leisure has brought another 45 casinos in Britain into its stable. The purchase gives it a global brand name and extends its reach into the European market.

Its rivals' boasts that they can bring Hollywood movie production sets here and launch movies based on the Sentosa resort theme seem weak by comparison.

For tourism appeal, bidders also have to show expertise and experience in building and running attractions, hotels and casinos.

Kerzner and Genting have solid records, the former in creating quality integrated resorts and the latter in mass-market ones. Eighth Wonder, which has never built or operated an integrated resort, is out of this league. The 'biggest' item on its resume is that its chairman, Mr Mark Advent, played a key role in designing Las Vegas' New York New York hotel and casino.

Its casino operator, Melco-PBL, acquired the Crown casino in Melbourne and Burswood casino in Perth. It did not build them.

Kerzner and Genting tie for their development track records.

To ensure the uniqueness of the Sentosa resort, the winning entry has to be the only one of its kind in the region and a tourist 'magnet'.

There seems little possibility of an Eighth Wonder or a Kerzner resort coming up in Singapore's neighbourhood. Genting's attractions partner, Universal Studios, is hotly pursued by Singapore's neighbours. But it cannot be ruled out that Genting would have locked the movie theme park into an exclusive deal for Singapore for at least the first decade.

As for the ability to bring in visitors, all the bidders have thrown up staggering numbers. The judges are likely to moderate the claims by referring to the performance of existing attractions, market studies and track records.

Eighth Wonder, which gave the biggest promise of 15 million visitors a year, has no track record. Neither is there an existing resort of its ilk.

Kerzner's Atlantis in the Bahamas attracts 1.2 million visitors a year. Its attractions - a water-theme park and an oceanarium - are similar to what it now offers in Atlantis.

Its crown jewel for Sentosa is the glass architecture designed by famous architect Frank Gehry. Mr Gehry's Guggenheim Museum in Bilbao, Spain, draws 900,000 visitors a year. But the Asian market for architecture tourism is untested.

Among the three, Genting's claim that its resort will be a crowd puller is the most credible. Its Highlands resort welcomed 20 million guests last year. Hollywood's Universal Studios in the United States draws four million visitors a year. Counting visitors to its restaurants and theatres, that number goes up to 8.5 million.

With two wins and one draw, Genting enjoys a good lead over its rivals for tourism appeal.

Design

ARCHITECTURE, traffic management, the provision of public spaces and architects' track records will be taken into consideration here.

All the architects have solid records.

It is arguable whether Gehry's glass sails structure for Kerzner will complement Sentosa's landscape, but it undoubtedly scores the highest marks for drawing international attention to Singapore. It is distinctive compared to American architect Michael Graves' block-and-dome design for Genting, and Eighth Wonder's contemporary design by Arquitectonica and Peter Marino.

In the areas of traffic management and the provision of public spaces, none of the contenders enjoys a comparative advantage over the others.

Kerzner gets a slight lead here.

Development investment

EIGHTH Wonder has announced the highest bid at $5.5 billion. Kerzner is putting in $5.28 billion and Genting $5.2 billion.

Eighth Wonder gets a marginal lead.

Strength of finances and commitment of partners

WHILE it is assumed that the financial plans of the three bidders are on par, the commitment of Genting's equity partners seems the most stable and robust.

Both Genting International and Star Cruises belong to the Genting Group. Group chairman Lim Kok Thay has declared that all his resources are behind the bid.The Kerzner and CapitaLand team has focused single-mindedly on Sentosa for the past two years and has ruled out other locations in the region.

But gaming observers have questioned the future of Kerzner - a Bahamas-based company - since the sudden death of its chief executive Butch Kerzner, 42, in a helicopter accident two months ago.

Despite having an experienced management team, Kerzner has to date not appointed a new CEO. Kerzner's chairman and Butch's father, Mr Sol Kerzner, is 71 years old and underwent a heart bypass last month.

The commitment of the Eighth Wonder syndicate is deemed the least stable. Its equity partners, American Isle of Capri and Melco-PBL, came onboard Eighth Wonder's bid publicly in October. The deal was sealed only weeks before Eighth Wonder submitted its tender documents.

Melco-PBL - a joint venture between Australia's Publishing and Broadcasting Limited (PBL) and Hong Kong-listed Melco International Development - will run the resort casino. What casino chain Isle of Capri will bring to the bid, however, is unclear.

We believe that Genting will top this category.

Conclusion

AS WITH all grading, the tender criteria will not cover every consideration the Government wants addressed.

But even if other factors come into play, Genting will remain the favourite, so long as these factors are driven by economics.

There is talk that Kerzner-CapitaLand could enjoy home ground advantage given that CapitaLand is a local company.

But this is mitigated by Genting International being listed on the local exchange and Star Cruises being the largest cruise operator here. It should also be noted that Sands did not have any local partner.

If Genting loses, it could be wooed home by the Malaysian government to set up an integrated resort in Johor Baru. It is not a prospect that Sentosa would relish.

Lastly, analysts have noted that Genting's stocks would take the biggest hit if it loses the bid. This, plus the stiff competition a rival casino will pose to its Highlands property, means it has the most to lose. And Genting knows that.

Given all these factors, the bet is on Genting winning the Sentosa bid.

3 December 2006

AFP
Genting's Sentosa bid gets backing from Steven Spielberg

Genting's proposed gaming resort at Sentosa island in Singapore will include a DreamWorks movie studio if the Malaysian group wins the bid for the project, a local report said.

The DreamWorks digital studio will give visitors a peek at how film animators use computer technology to create movies, the Business Times reported.

DreamWorks has produced several animated blockbuster movies, including Madagascar and Shrek 2.

US film director Steven Spielberg, co-founder of DreamWorks, was roped in by Genting in its video presentation to a Singapore government panel tasked with evaluating the bids for the Sentosa project.

"I'm particularly excited about the plans for the DreamWorks animation studios," Spielberg said in the video presentation which Genting showed to the newspaper.

Spielberg is creative consultant to Universal Parks and Resorts which is partnering Genting for the Sentosa project.

"Universal's parks are more about than just riding the movies," said Spielberg, who will also be involved with designing the rides at the proposed theme park at Sentosa if Genting wins.

"Because what we do so well at Universal is to put people inside incredible and timeless stories and make them superheroes, these are the kinds of experience that create memories that can last a lifetime, and only Universal has the experience to bring them to life," he said.

Genting and its sister company Star Cruises, both part of Malaysian casino operator Genting Group, have tied-up with Universal Parks and Resorts of the United States to bid for the Sentosa project.

Analysts see the Malaysian outfit as favorite to win the Sentosa licence from two rival bidders.

Bahamas-based Kerzner International, which has teamed up with Singapore property developer CapitaLand, is one of the two rival competitors.

The other is the privately-held Las Vegas firm Eighth Wonder, which is undertaking its bid with Australia's Publishing and Broadcasting Ltd and Hong Kong's Melco International Development Ltd, and Isle of Capri Casinos Inc.

Genting and its partners say they are prepared to invest 5.2 billion Singapore dollars (3.38 billion US) into their proposed "Resorts World at Sentosa" if they win the bid.

It is also committed to reinvesting more than 200 million dollars annually to keep the Sentosa resort up to date.

Singapore is expected to announce the winning Sentosa bid early this month.

The city-state last year lifted a ban on casino gambling and announced plans for two casino complexes featuring gaming and other attractions in a bid to boost its tourist appeal.

Singapore awarded its first casino licence in May to Las Vegas Sands, which also has operations in Macau.

Sands says it will invest more than five billion dollars in the project to open in 2009.

2 December 2006

Business Times
Spielberg's DreamWorks adds another ace to Genting bid

(SINGAPORE) Malaysian casino group Genting has roped in DreamWorks - the movie animation company co-founded by legendary Hollywood director Steven Spielberg - to spice up its bid for the integrated resort (IR) on Sentosa.

Lim Kok Thay, chairman of Singapore-listed Genting International, told BT he has included plans for DreamWorks movie studios in his detailed proposal to the government.

'If people were generally impressed by James Cameron in the first bid, I would say Steven would blow everybody away, even more so,' Mr Lim said, after showing BT a video presentation of Mr Spielberg's endorsement of Genting's partnership with Universal for the Sentosa bid.

Hollywood director James Cameron was roped in by the Harrah's-Keppel Land consortium for the Marina Bay IR, which was eventually clinched by Las Vegas Sands.

In the presentation video to government officials this week, Mr Spielberg spoke of his involvement in the proposed digital studio and theme park components at Universal Studios Singapore: 'I'm particularly excited about the plans for the DreamWorks animation studios.'

In a statement to BT, DreamWorks said: 'The 1,400 square metre DreamWorks Digital Animation Studio at Universal Studios Singapore will give visitors a peek behind the scenes to learn how film animators use state-of-the-art computer technology to create some of today's most popular films.'

DreamWorks - responsible for such blockbusters as Madagascar, Shark Tale and Shrek 2 - uses the voices of big movie stars for its characters. For example, Shark Tale features Will Smith and Robert De Niro's voices.

Mr Spielberg, who has been a creative consultant to Universal Parks & Resorts for 18 years, will also help design the rides at the proposed theme park.

'Universal's parks are about more than just riding the movies,' he said. 'Because what we do so well at Universal is to put people inside incredible and timeless stories and make them superheros - these are the kinds of experience that create memories that can last a lifetime, and only Universal has the experience to bring them to life.'

The Genting-Universal partnership is one of three remaining bidders for the Sentosa IR project. The other contenders are CapitaLand-Kerzner and Eighth Wonder.

All of them have pledged to spend more than S$5 billion. Genting, which failed to clinch the Marina Bay project, is widely seen as a front-runner. The winner is expected to be announced this month.

30 November 2006

Business Times
Thrills and spills galore at Kerzner's water park

KERZNER International yesterday revealed more details about the Aquaventure water theme park that would be part of its Sentosa integrated resort.

The park - about the size of nine football fields - would have four main areas catering to specific age groups and could accommodate more than 5,000 people at one time.

For thrill seekers, Kerzner proposes a slide complex with eight water-coasters, uphill 'blasters' that propel patrons back to the top of a ride so they need not get out of the water - and other water-based rides.

One ride would involve a 70m free-fall body drop at a 60 degree incline, with riders sliding down an acrylic tunnel that runs through a shark tank and ending in a cave pool surrounded by tanks of alligator garfish.

'Kerzner pioneered integrating water rides with live fish habitats and is the world leader in this area,' said Kerzner's international division president Tobin Prior.

There would also be a 'Dark Slide' - riders go through a tube in total darkness as special effects such as sharks and fire are projected along the way. Another proposal is a 568m river ride. And toddlers and young children would have four mini water slides at a water playground.

The park would also have shark and stingray saltwater lagoons, where visitors can take part in scheduled interaction programmes such as supervised feeding.

Kerzner has teamed up with CapitaLand to bid for the Sentosa resort project.

30 November 2006

TODAYonline
Eighth Wonder raises bid

It raises investment to $5.6b for Sentosa IR, plans $130m aquarium

SENTOSA contender Eighth Wonder raised its bid to $5.6 billion after its chairman Mark Advent decided to throw in a $130 million aquarium into the ring at the 11th hour.

At its fourth consecutive press conference in as many days, Mr Advent said: "We've just decided from a business perspective that, should we be fortunate to be chosen for the Sentosa integrated resort (IR), Singapore deserves a second-to-none aquarium called The Singapore Aquarium."

While the aquarium was already a component in the man-made caldera, Mr Advent said that an additional $130 million will be needed to bring it to fruition.

When asked to clarify if this meant the bidder is submitting a higher bid for the government's consideration, an Eighth Wonder spokeswoman said the previously stated bidding sum of $5.5 billion still stands.

At the briefing yesterday, Mr Advent also threw in other new numbers: A $480-million campaign to produce and market a Hollywood film based on fictional character Harry O'Brien, and a US$25-million ($38.7-million) treasure hunt and reality TV series.

These film-related investments, though, are separate from the $5.6-billion bid.

The movie will be produced and distributed by Hollywood's New Regency Productions, said Mr Advent.

In fact, the Government has already been given copies of the screen treatment.

Accompanying the film will be the treasure hunt on the proposed Harry's Island, with a prize of US$25 million.

Clues will be hidden in the movie, as well as in eight clue books to be written by fantasy role playing game Dungeons and Dragons creator Gary Gygax. A reality TV series will be shown, featuring the finalists in the treasure hunt on Harry's Island.

With its earlier $5.5 billion bid, Eighth Wonder is already in the lead in terms of investment amount ?which takes up 20 per cent of the evaluation criteria. Kerzner-CapitaLand and Genting have proposed $5.28 billion and $5.2 billion respectively.

Over at the Kerzner camp, details of its Aquaventure family attraction were unveiled yesterday.

With 14 rides spread over four main areas ?the Squid Tower Slide Complex, River Rides, Crab Playground and Spectacular fish habitats ? spanning the size of nine football fields, Aquaventure can accommodate over 5,000 people at one time. Each area caters to specific age groups.

In one of the rides, the South Seas Challenge, two racing slides on opposite tentacles of the Squid Tower will allow visitors to compete side by side down the slide.

Electronic gates and timers will display the race timings.

Other rides include a 70-m free-fall body slide at a 60 degrees incline with drop speeds of up to 50km an hour, and group rides of up to six in a river raft.

Special effects will also be incorporated into the rides to create illusions of fire, shark attacks and other thrills.

The winner will be crowned early next month, possibly next Friday.

29 November 2006

MediaCorp
Eighth Wonder partners New Regency Productions

More icing to sweeten its bid for the Sentosa Integrated Resort.

Eighth Wonder, has announced a tie-up with Hollywood's New Regency Productions to launch a 150 million US dollar motion picture production, called Harry's Island.

The family oriented movie will premiere at the grand opening of the proposed 5.5 billion dollar IR in 2010 if Eighth Wonder wins the bid.

It'll be the first major Hollywood movie to be primarily filmed in Singapore.

The project is expected to create a significant nuumber of motion picture related jobs throughout Singapore and promote the city-state as a preferred destination for more Hollywood-produced movie ventures.

Harry's Island is designed to emulate Indiana Jones and James Bond and will serve as a centrepiece of the IR's extensive multimedia-entertainment-based marketing platform.

Eight Wonder's Chairman & CEO, Mark Advent, said another 150 million US dollars will be spent to market and promote the movie.

These include a reality TV show and a treasure hunt with a 25 million US dollar grand prize.

Regency Enterprises senior executive, Yariv Milchan.

"To launch something that big with a great story behind it, will be an amazing opportunity. It would be something that would be shot here, in Singapore. We are talking about a big budget, big marketing, great opportunity for merchandising and promotion. We already have an A-list actor who is interested -- I think you would like -- who is very interested in doing this. We already have writers, ideas for directors. So we're basically ready to go."

New Regency is responsible for mega hits such as Mr & Mrs Smith, Fight Club and LA Confidential.

28 November 2006

MediaCorp
Genting ropes in leading genomics scientist

The Genting International-Star Cruises consortium has roped in leading genomics scientist, Dr J Craig Venter, to boost its bid for the Sentosa Integrated Resort.

Dr Venter will set up a research and learning centre on Sentosa, if the consortium wins the IR bid.

His centre will be located within the Maritime Museum, one of the attractions that the consortium has planned for the casino resort.

Dr Venter has been credited as a chief architect of the team that sequenced the first genome in 1995, the first complete set of DNA.

At the centre on Sentosa he plans to research the rich micro-organism diversity in the Earth's oceans.

The museum will also feature the 6 floating replicas of ships that were used along the Asian maritime silk route up to the 16th century.

The genting consortium is one of three bidders for the IR.

The winner is expected to be announced early next month.

28 November 2006

ASIAone News
Sentosa IR race in home stretch, bidders show and tell

FROM wedding priestess to robotic and maritime experts, the three bidders for the Sentosa Integrated Resort (IR) are making their final presentations to the judges these two days in the home stretch of the two-year race.

The winner will likely be crowned next Friday.

Eighth Wonder was the first to present its ideas to the media in a final push for public support at Sentosa on Tuesday morning.

It proposed to develop a wedding business with New York-based designer Vera Wang, touting it as a project that may generate annual sales of more than S$150 million.

Should it win the bid, Eighth Wonder will allow Ms Wang to develop two floors of the proposed W Hotel. It will include wedding pavilions named after Ms Wang, known for her wedding gowns.

The Las Vegas developer may eventually allow Wang to design the entire hotel.

'On the economic side of it, it's big business,' Chairman Mark Advent said.

'The demand for Vera has been overwhelming and we're going back to the drawing board,' he said.

Speaking via video conference, Ms Wang said the hotel may be the first of a series of wedding resorts under her brand.

'I couldn't think of a more romantic and beautiful location that would be the first representation of my brand as not only a hotel but wedding pavilions and the centre of my world from a fashion point of view,' she said.

'I couldn't think of a better place to further my business,' she added.

Other Eighth Wonder partners include soccer legend Pele and Franco Dragone, who created shows such as Celine Dion's 'A New Day' in Caesars Palace and 'Le Reve' in Wynn Las Vegas.

Eighth Wonder's equity partners for the Singapore project include Australia's Publishing & Broadcasting Ltd. and Macau's Melco International Development Ltd., which will jointly manage the casino, as well as US gaming operator Isle of Capri Casinos Inc.

Eighth Wonder, with a S$5.5 billion proposal, is competing with Genting and Kerzner International.

Kerzner's 'family-oriented' draw
In its show and tell to the media, Kezrner touted its vision of a family-oriented resort.

It flew in Mr Walt Conti, the founder of Edge Innovations, a world-leading creator of aquatic robotic characters such as Free Willy, Anaconda and Flipper.

He told reporters that he wants to create characters that can 'evoke feelings with visitors'.

Genting will meet the media later on Tuesday afternoon, and will dwelve on its maritime museum.

In May, the Government awarded Las Vegas Sands a contract to develop the Marina IR.

25 November 2006

TODAYonline
Whose fantasy will prevail at Sentosa?

COME 2010 and Sentosa will either be known for a giant volcano, massive "sails" or Universal Studios to go with a slick casino.

The shape that the island takes depends on whether Eighth Wonder, Kerzner-CapitaLand or Genting International get the nod to operate its integrated resort (IR).

This makes Dec 8 ?touted as the hot date for the results announcement ? a day to watch. It will be a day of sweet victory, of gratifying vindication, and of great disappointment ?but for whom?

We spoke to the tourists whose dollars are being sought and to the analysts gauging the direction of the wind.

Ask the tourist

Take heart, Mark Advent. Your Harry's Island grabbed the imagination of most of the 50 tourists randomly polled by Today.

The tourists, hailing mostly from China, India and the rest of Asia, were shown visuals of the various concepts and highlights of the bids.

"It looks like a lovely world in a fairy tale," said Chinese national Li Juan of Harry's Island, which grabbed 27 votes.

While it was ranked last in a Merrill Lynch report, its ranking prompted a middle-aged Canadian tourist to "want to go for the underdog", she told Today spiritedly.

Twelve tourists plumped for Kerzner and 11 for Genting.

Kerzner's design, by world-renowned architect Frank Gehry, was either loved or loathed by the tourists; the same went for its futuristic concept of robotic marine life in the year 3000.

Some marvelled at the thought of moving images on the glass facade of The Sails ?Gehry's focal point of the glass-and-steel structure ?while others cringed at its "messy" outlook.

Aesthetics aside, Mr Gu Yuan, a Buddhist from Beijing, voted for Kerzner because "it looks like a lotus flower and brings to mind good luck".

Genting got the nod from visitors like the Yuans from China, who said it seemed a place to bring their children because it "looks more family-friendly, more organised and easier to move about in".

But contrary to expectations, theme park and attractions were not the No 1 consideration for the tourists polled, especially among the Chinese and Indians. "I prefer my holidays to be about shopping and relaxation," said 26-year-old Chandhi from India.

Asked to rate the IR's top three pull factors, the Chinese picked unique experiences not found elsewhere in Asia; design and architecture; and shopping and food, in descending order.

The Indians ranked design first, followed by shopping and food, and unique experiences.

The casino factor was placed last by almost all the tourists polled.

The Experts' say

While tourists' first impressions swung in Eighth Wonder's favour, the smart money is on its rivals. Of the five industry experts polled, two went with Kerzner and two with Genting. One supported Eighth Wonder.

Their picks were based on the Government's criteria: Tourism appeal (45 per cent); architecture and design (25 per cent); development investment (20 per cent); and strength of consortium (10 per cent).

W Architect's William Lim's heart chose Kerzner, but his head said Genting has a better chance.

"A win for the Gehry design will be an urban architectural statement for Singapore, and it will push local architects to ask for the opening up of building design in Singapore," he said. "But based on this quantitative point system, I think that Genting will have the highest score."

Boutique hotelier Loh Lik Peng and National Association of Travel Agents Singapore chief executive Robert Khoo both picked Kerzner.

Said Mr Loh: "I am excited by the idea of a water-based theme park that is not in the mould of traditional water parks like Sea World. This looks to be something on the scale of what Dubai might undertake and hopefully will be a transformational change for our tourism industry."

He also pointed out that, given the aggressive development timetable due for completion in 2010, the Kerzner/CapitaLand consortium might be the safer bet since CapitaLand is a strong local developer.

In a report by Merrill Lynch, Genting was given an auspicious 88 per cent chance of hitting the jackpot, Kerzner 82 per cent and Eighth Wonder 79 per cent.

The only downside for Genting, said analyst Sean Monaghan, was that there might be an "anti-Malaysian campaign" against it.

Mr Khoo hoped the Government would trust its "gut" instincts.

"I hope that the selection panel will select something that may not seem to be the best choice now, but one that could be a winner in the long-run."

23 November 2006

SPH
Last in race? Eighth Wonder slams 'biased' report
Chief says forecast comes before his firm's proposal has been fully unveiled

AN ANALYST'S report says Sentosa resort bidder Eighth Wonder will be last in the three-horse race to win the contract, and the American resort developer is angry.

The report is biased , Eighth Wonder chief Mark Advent told reporters yesterday, referring to Merrill Lynch's industry overview released on Tuesday.

Mr Advent also lambasted the report for forecasting the outcome before Eighth Wonder had unveiled all the details of its proposal.

The report tipped Genting International to win the Sentosa integrated resort bid, and placed the Kerzner-CapitaLand team second.

Other analysts who spoke to The Straits Times yesterday concurred with Merrill Lynch's ranking.

Eighth Wonder, which called a press conference yesterday to unveil more details of its bid, was also asked to respond to the third-placing forecast.

For the report, the three rivals were given percentage scores on eight criteria: four listed by the Government and four more identified by Merrill Lynch.

Genting will win, it predicted, on the back of its experience operating in Asia, its good probity record, its being able to leverage on its partners to bring in big spenders and its proposal including a Universal Studios theme park.

Merrill Lynch praised Eighth Wonder for its creativity in building a resort themed around a mythical hero, but cast doubt on its hotchpotch of celebrity partners. It would be difficult, it said, for the big names to come together with a 'shared vision'.

Two other analysts concurred with the report. CIMB-GK's analyst Steven Tan said he had seen Genting as the front runner for the past six to eight months, adding: 'Universal Studios seems to be the best fit. The people on the street seem to be most excited about it.'

He added, however, that all three teams had pulled out the stops to meet the Government's requirements - tourism appeal, design, investment amount and investors' track record - so it would come down to what the Government preferred.

A local analyst who declined to be named said that while Kerzner's centrepiece glass monument evoking a futuristic Atlantis was innovative, the Atlantis brand was not as recognisable here as the Universal Studios one.

Kerzner, responding to its No. 2 placing by Merrill Lynch, remained characteristically neutral, saying only that it would stay 'committed' to its bid.

Eighth Wonder, showed more cards in its hand at its press conference yesterday, by announcing that it would put $500 million on technology for its $5.5 billion resort.

It has appointed German technology giant Siemens to put security and pro-environment systems in place.

Mr Advent also took the opportunity to respond to Merrill Lynch analyst Sean Monaghan's earlier comment on his tie-up with celebrity chef Alain Ducasse - that chefs did not represent any value to a bidder, because the ultimate winner would be able to hire them.

Mr Advent said Eighth Wonder had spent two years getting to know Mr Ducasse and where his company was headed. 'Alain Ducasse is not for sale - he doesn't need to be for sale,' he declared.

Then, questioning Merrill Lynch's objectivity, he pointed out that it had been among the broking firms which underwrote Genting's initial public offering last year.

Mr Monaghan, who was behind the report, conceded that, having done work for Genting before, it probably meant they understood the company better, so that was 'probably a fair comment'.

But he tossed a comeback: 'But if we were closer to Eighth Wonder, would it change our view? I'm not quite convinced.

'You don't have to know Genting too well to know that Universal is a credible story. There's nothing else that the other two bidders have that can actually counter that.

'If Eighth Wonder wins, they don't have to invite us to their party.'

22 November 2006

Channel NewsAsia
Eighth Wonder ropes in Siemens to develop technologies for Sentosa IR

SINGAPORE : An integrated resort that's intelligent enough to remember guests' needs, monitor their safety and protect the environment - that's what Eighth Wonder has in mind for its proposed $5.5 billion Sentosa integrated resort.

And it has roped in German electrical engineering firm Siemens to develop new technologies for its bid.

Eighth Wonder has previously unveiled plans for its Harry's Island resort at Sentosa, including celebrity chef, world-class hotels and entertainment options.

It will also be setting aside $500 million to put cutting edge technology into the package. Among them, a comprehensive security system that tracks a guest's journey from the airport to the hotel rooms as well as a world's first Personal Carbon Use Monitoring System to care for the environment.

Mark Advent, chairman of Eighth Wonder says: "I thought wouldn't it be great, as a guest, if I have the option, not a requirement, that as I came into the resort, to dial in on a touch screen pad in my room and have all the information relative to my stay at Harry's Island to inform them and let them monitor their own energy consumption."

Eighth Wonder says there'll also be personalisation technologies to enhance visitors' experience. The system will be able to remember guest's music taste, temperature setting in the rooms and even their shoe size when they go shopping in the resort.

But all these ideas could amount to nothing if one of its partners Melco PBL fails to clear compulsory probity checks.

When asked about the status of the checks, Mr Advent would only say that "it's a confidential process administered by the government."

Eighth Wonder is up against Kerzner CapitaLand and Genting International for the project.

The two competitors have separately announced plans to inject funds to keep the resort "fresh" - Genting International to spend $200 million yearly and Kerzner CapitaLand to invest $2 billion over 10 years.

As for Eighth Wonder, Mr Advent says it will spend as much as required to rejuvenate the resort.

"If you've done your planning correctly, as a developer, you would have thought out a plan that looks well into the future. And that the need to project how much one would spend 10 years out is somewhat impractical," says Mr Advent.

22 November 2006

Business Times
Merrill sees Genting having upper hand in IR bid

But stock faces sharp downside of 30 per cent if company loses

MERRILL Lynch has tipped Genting International as having a 75 per cent chance of winning the Sentosa integrated resort bid, although the investment bank report goes on to say that losing the bid could send Genting's stock down by 30 per cent to 27 cents a share.

In the report, released yesterday, Merrill Lynch scored each of the Sentosa bids on total tourism appeal, architectural design, investment and strength of the consortium - the same criteria as the government is using to judge the bids.

The investment bank gives Genting International a total score of 88 per cent, while the Kerzner International-CapitaLand consortium scored 82 per cent. Eighth Wonder came in with the lowest score, at 79 per cent.

Overall, the report said that Genting International has a 75 per cent chance of winning Singapore's second casino licence.

It added that a win for Genting could see its stock jump 22 per cent to 47 cents a share with a 30 per cent possible downside if it fails. It said a win for CapitaLand could see the stock rise to $6.50 a share, while a loss could see the stock drop to around $5.70 a share.

CapitaLand shares closed 15 cents up at $5.90 a share yesterday, while Genting International shares remained unchanged at 38.5 cents.

Based on the process used for the Marina Bay licence, the report reckons that a government decision on the winning bid could come between the dates of Dec 4 and 8.

In evaluating the bidders, the report also took into consideration market knowledge, operational leverage, tourism delivery and execution risk.

'We believe Genting will be viewed as having greater market knowledge, given it is the only bidder to have operated in Asia,' the report said. 'Kerzner has not operated in Asia previously, and its expertise lies more as a property company than gaming. While Eighth Wonder has pulled in Publishing and Broadcasting Ltd (PBL) and Melco into its syndicate, we question the value given the small shareholding.'

The report said Genting can build on its experience with Star Cruises and Genting Highlands, as well as UK casino company Stanley Leisure, although the Eighth Wonder consortium may find it 'difficult' to use its PBL and Melco ties, given the 'regulatory challenges this syndicate may face in combining its Singapore operations with Macau'.

In analysing the individual bidders, the report also looked at the strengths and weaknesses of each.

It noted that Genting International had market knowledge, operational leverage, a Universal theme park, a good record on probity, and stability. It said the 'only weakness' in Genting's bid was that 'Genting is a Malaysian company'.

For the Kerzner-CapitaLand consortium, the report said that its Frank Gehry-designed resort 'appears to excite various academics and architects', and noted Kerzner International chairman Sol Kerzner's 'reputation for developing world beating attractions'.

'Our principal concern lies in the US$3.3 billion investment, and the fact that with such limited local knowledge and experience in the Asian gaming market, how are they going to effectively compete with Las Vegas Sands and achieve an adequate return to shareholders,' the report said.

On Eighth Wonder, the report said a clear strength was the 'level of creativity' associated with its proposed Harry's Island concept, as well as its 'varied list' of partners.

However, it also noted that the 'almost eclectic group of unrelated attractions gives us the impression the group was trying every means to find partners to join to make the bid look more impressive'.

'Syndicates that form an amalgam of eclectic entities can often have trouble establishing a shared vision, and importantly, holding the vision,' the report said.

The government has said that tourism allure will account for 45 per cent of the marks upon which bids are judged, followed by design at 25 per cent, while investment amount and investors' track record make up 20 and 10 per cent respectively.

22 November 2006

SPH
Kerzner plays culinary card as IR race hots up

WITH the race for the Sentosa integrated resort (IR) into the home stretch, the bidders are whetting appetites by dishing out small morsels of information almost every day.

On Monday, the Kerzner-CapitaLand consortium revealed details about its partnership with top entertainment brands Discovery Channel, MTV and Nickelodeon.

Yesterday, it said it plans to put up 34 food and beverage outlets at its proposed $5.28 billion resort. The outlets will occupy 21,000 sq m of the resort's 343,000 sq m total gross floor area. From fine dining at restaurants run by celebrity chefs to affordable foodcourt fare, choice will be aplenty.

Highlights include an Indian restaurant created by celebrity chef Sanjeev Kapoor and a restaurant serving Moroccan-Lebanese cuisine.

Quintessential New York steakhouse Smith & Wollensky will also be on board.

Kerzner hopes the mix will be an attraction in itself, drawing culinary tourists from around the world.

Rival Eighth Wonder said last month that it will have 40 to 50 restaurants, overseen by celebrity chef Alain Ducasse, at its $5.5 billion resort.

Kerzner, in response to media queries, said yesterday that it will spend more than $2 billion in the first decade of its operations here to keep its resort looking fresh.

Kerzner's executive director of development for Singapore, Mr Ian Douglas, said that the amount will be 'purely to ensure that Atlantis Sentosa is kept appealing and absolutely ship-shape'.

'Any expansion projects would be over and above this commitment,' he added.

Kerzner's commitment is similar to that of rival Genting International, which has said it will spend more than $200 million a year at its $5.2 billion Resorts World at Sentosa.

The winner of the IR bid will be announced next month.

21 Nov 2006

MediaCorp
Kerzner CapitaLand Unveils Its F&B Strategy

Kerzner CapitaLand Integrated Resorts says it will spend more than two billion dollars over ten years for maintenance to ensure that its proposed Atlantis Sentosa integrated resort will retain its appeal to visitors.

Executive Director of Development for Kerzner International, Ian Douglas, says the capital expenditure will be above the initial development cost of the IR.

In addition, Kerzner CapitaLand also revealed it aims to establish at least 34 food and beverage outlets to boost its bid for the IR.

The consortium says the F&B outlets at the proposed Atlantis Sentosa resort will be positioned as a new gourmet food destination and occupy 21 thousand square metres of gross floor area.

The gastronomical fanfare features international cuisines ranging from high-end established restaurants to casual eateries like the foodcourt.

Kerzner CapitaLand has secured the exclusive services of ten celebrity chefs including Joel Robuchon, Gordon Ramsay, Santi Santamaria and Sanjeev Kapoor.

The consortium is up against Genting International-Star Cruises and the Eighth Wonder-led team for the Sentosa IR.

The winning bidder for the IR, which is expected to cost more than five billion dollars, will be unveiled in early December.

21 November 2006

Straits Times
Kerzner woos families with four top brand names

EDUCATIONAL attractions, a TV studio and professional babysitters - the Kerzner-CapitaLand consortium will go all out to woo families should it win the bid for Singapore's second integrated resort (IR) on Sentosa.

A favourite in the three-horse race, Kerzner yesterday revealed more details of its plan, roping in four popular brands to offer something for the entire family.

Discovery Channel: It will entertain children with a camp featuring a science and nature lab.

MTV: It will design and build a facility for live shows and broadcast visitors' video requests at the resort. It will also, together with the Nickelodeon channel, set up a two-storey studio at the resort.

Nickelodeon: It will offer children a chance to be on TV with some of their favourite characters, such as SpongeBob SquarePants.

Johnson's: The baby-care brand will put together a trained team of babysitters.

Kerzner's $5.28 billion Atlantis Singapore will be a 'fully integrated' resort, said the company's international division president, Mr Tobin Prior, in a telephone conference call yesterday.

'We don't come with one hotel concept and bolt on a food and beverage concept and a separate attraction concept,' he said.

'We start with the principle that we want to develop an IR that appeals to families.'

More than half the resort's 1,800 hotel rooms will be family-size, said Kerzner. It will also offer other learning opportunities for children, including five 'AquaLabs' where visitors can view, among other things, futuristic mechanical fish.

Teens-only Club Rush - with entry barred for adults - will have Internet video games, movies and dancing. There will be lots for adults, too - including special gaming rooms and suites for high rollers, said Mr Prior. That is over and beyond the more than 60 stores which will complement the neighbouring VivoCity mall.

Mr Prior, saying that 'substantial sums' will be reinvested to keep the resort's offerings fresh, added that he is convinced that high-profile events will make their way there.

Not to be left behind, rival bidder Eighth Wonder has set up a website (harrysisland.com.sg ) to showcase its $5.5 billion Harry's Island proposal.The other contestant in the race is the Genting International-Star Cruises consortium, which has put in a $5.2 billion bid.

20 November 2006

Business Times
Kerzner plans 'mind-blowing entertainment' if it wins S'pore IR project

SINGAPORE - Kerzner International will offer 'mind-blowing entertainment' if it wins the bid for Singapore's second integrated resort (IR), the Bahamas-based casino operator said on Monday.

Kerzner, bidding jointly with Singapore developer CapitaLand, made the promise following announcements it had signed exclusive partnerships with entertainment giants Discovery Channel, Nickelodeon and MTV: Music Television.

'We took a look at the region's educational aspirations and the general environment to ensure that we developed a product that is relevant for Asia,' said Tobin Prior, president of Kerzner's international division.

'By starting with mind-blowing entertainment in the form of marine life and music, television and feature film programming, and adding digital technology, science and multimedia, we are embracing all these key areas that Singapore is investing in for the future,' he said.

The city-state has allocated hundreds of millions of US dollars to boost research in biomedical sciences, water treatment and digital media as part of an effort to develop new growth engines for the economy.

Kerzner has said its project would also feature 1,800 hotel rooms, the world's biggest man-made coral reef, habitats for live fish and robotic sea creatures, and a garden with mechanical animals and plants.

Singapore is expected to announce the winning bid for the casino project on Sentosa island in early December.

The other two bidders for the project are US-based Eighth Wonder and the Genting International-Star Cruises team which is part of Malaysian casino operator Genting Group.

Eighth Wonder is undertaking its bid with Australia's Publishing and Broadcasting Ltd and Hong Kong's Melco International Development Ltd, and Isle of Capri Casinos Inc.

All three contenders have vowed to spend more than US$3 billion on the project if they win.

In May, Singapore awarded its first casino licence to Las Vegas Sands, which also has operations in Macau.

Sands says it will invest more than US$5 billion (US$3.2 billion) in the downtown Marina Bay project to open in 2009. -- AFP

20 November 2006

Channel NewsAsia
Kerzner ties with Discovery, Nickelodeon and MTV in bid for IR

SINGAPORE: Kerzner-CapitaLand has unveiled its trump card in the bid to build Singapore's second integrated resort.

The consortium has signed exclusive deals aimed at delivering a total family experience for visitors of all ages at its proposed Atlantis Sentosa.

Its new partners include Discovery Channel, Nickelodeon, MTV and Johnson's.

Kerzner-CapitaLand is banking on a fully integrated family concept to secure its bid for the Sentosa integrated resort.

And it has roped in some of the biggest global players in children, youth programming and family entertainment.

Tobin Prior, President of Kerzner International Holdings, says: "MTV is the leading music network in Asia and we believe Nickelodeon is the leading youth TV network in Asia. And we believe that they give us very important content to leverage off and very important exposure into those markets."

Both MTV and Nickelodeon will establish state-of-the-art interactive television studios within the resort where young visitors can interact with their favourite Nick characters and celebrities during 'live' programming.

Discovery, on the other hand, will run a kids' camp on marine life - for children aged 3 to 12, while baby-care specialist Johnson's will provide baby travel kits and professional baby-sitting services for visitors to the resort.

Kernzer is also planning to build a hi-tech aquarium on Sentosa.

On Monday, it revealed that the aquarium will include Aqua Labs where visitors can enjoy imaginatively curated collections and futuristic technologies.

There will also be a 300-seat 4D theatre within the aquarium and an Atlantis Lab where students can participate in hands-on experiments.

On the retail end, Kerzner highlighted a chocolate and candy factory and an ice-cream station, targeted at young spenders.

"I think the distinction between us and the others is what we can develop in an integrated fashion that's going to appeal to families both from a facility point of view and, very importantly, from a programming and operating point of view," Mr Prior says.

Kerzner says it is devoting an unusually high percentage of its rooms to families ?about 56 percent in all.

But the company says there will still be plenty to attract the singles and high-rollers, especially in Food and Beverage as well as retail outlets.

The winning bid for the Sentosa project is expected to be announced in early December. - CNA/so

16 November 2006

Business Times 
Eighth Wonder says its Sentosa IR design is unique

EIGHTH Wonder architect Peter Marino believes his design for the proposed Sentosa resort called Harry's Island is 'unique', unlike some of the rival proposals.

'At least one scheme which I have seen, I wouldn't go to visit because I've already seen it in California,' he told Singapore reporters yesterday by video link from New York.

Mr Marino - best known for designing flagship stores for fashion brands Louis Vuitton and Chanel - said Harry's Island would be an 'international attraction', not just a 'local one'.

Design and tourism are strongly connected, according to him. For instance, a new store he created for Louis Vuitton in Paris attracted a million visitors in its first nine months and is ranked the city's seventh most popular tourist destination.

Up to a third of Mr Marino's commissions are from fashion houses. But for Harry's Island, his brief is to design Crown Casino, Crown Towers Hotel and Banyan Tree resort. He sees the Crown Towers Hotel, which appears to have panels detached from the facade, as a flying deck of cards.

'The luxury hotel will be done in the way that I do luxury boutiques,' he said.

Mr Marino also has the distinction of having designed the world's most expensive hotel suite - at the Four Seasons Hotel in New York, costing US$5,000 a night.

Hinting at rates for villas at the Sentosa Banyan Tree resort, he said: 'Let's see if we can top the Four Seasons rates.'

On the casino, Mr Marino said the VIP section, which would make up about a third of the 15,000 sq m casino, could be expected to be built with a 'higher budget'.

At yesterday's media briefing, Mr Marino was backing up Eighth Wonder's chairman Mark Advent, who was in Singapore in person to release new artists' impressions.

Mr Advent stressed that Eighth Wonder's casino would be above ground, unlike those proposed by rivals. 'I would be interested to know what a feng shui specialist would think of that,' he said.

He also said Eighth Wonder's team is due to make two more presentations to the integrated resort assessment panel, on Nov 27 and 29.

Is he confident of winning? 'Many thought Las Vegas Sands did not stand a chance,' he said. 'But lo and behold, who won?'

16 November 2006

TODAYonline
Battle Royale
Barbs on design light up Sentosa IR tussle

AFTER the gentler jousts for the Marina Bay integrated resort, the struggle for Sentosa is turning out to be a more edgy affair.

The gloves came off yesterday morning when Eighth Wonder dropped a broad hint that its rival had submitted a design that was not so original. As the day wore on, it emerged that Eighth Wonder's own concept for the Sentosa IR echoed a proposal it had made for a Las Vegas project ?10 years back.

It was Mr Peter Marino, Eighth Wonder's architect, who threw the first jab in the battle for the originality stakes.

"I saw Frank Gehry's design and like all his works, it's very sculptural and interesting," said Mr Marino, about the offering by rival Kerzner Capitaland's famed architect. Then, he added: "I recently saw a proposal that he made for (the Jardin d'Acclimatation) museum in Paris which looks remarkably similar."

Both designs involve a heavy use of glass as a medium, a departure from Mr Gehry's usual metal-clad structures.

But Today understands that Eighth Wonder's fictional character ?Harry O'Brien ?that's the centrepiece of its proposed Harry's Island bid, is not too original either.

Although its chairman Mark Advent ?who dreamt up the character some 12 years ago ?had said Harry's Island "will belong only to Singapore", it appears that Sentosa wasn't the first place that "Hurricane" Harry aimed to conquer.

According to a Las Vegas Business Press report published in July 1996, Mr Advent had planned to build a US$20-million ($31.2-million) Hurricane Harry's Casino and Adventure Emporium on Las Vegas' Sunset Road.

The paperwork had been completed and necessary clearances, including the gaming licence, already acquired.

Spanning six acres, the project was to include four restaurants, a 9,000-sq-ft casino, microbrewery, travel agency and an adventure emporium with a three- storey-tall climbing wall.

But the plan failed to materialise and resurfaced a decade later in Singapore.

Asked about this, Mr Advent refuted claims of recycling a failed idea. He said he decided to pull the plug on the casino-restaurant project, as he wanted to create an even bigger property around the Harry O'Brien character, which he had already secured a trademark for.

And in the first place, he went ahead with the Vegas project because "in the United States, you can't just secure a trademark without using it". "The rule is 'use it or lose it'," Mr Advent said.

He added that he "knew instinctively that Sentosa was the home for Harry" when the site was first announced in 2004.

Asked why did not make any mention of the defunct proposal in Las Vegas, he said it was because "it was not material". He added: "I've always said it was a 12-year-old idea."

In another corner, reacting to the put-down by its rival, Kerzner's development director (Singapore) Ian Douglas said Mr Gehry's concept for Atlantis Sentosa is "unprecedented and unique".

He added: "Every renowned artist, designer or architect has a signature style and Gehry's distinctive and unique projects are iconic and have been proven to attract visitors and enhance tourism."

Beyond the trading of barbs, another question has risen: Just how important is the originality of the project in securing Singapore's second casino licence?

After all, as some experts noted, the Government has never said the idea must be completely new.

Referring to Eighth Wonder's bid, Merrill Lynch gaming analyst Sean Monaghan said: "Just because his idea is more than 10 years old isn't a major issue. The real issue is whether it has the ability to build it on time and on budget and, upon opening, can generate the returns to tourism that the Government wants."

The bidders ?which also include heavyweight Genting International, which has partnered Universal Studios ?will be judged most heavily on tourism appeal and contribution (45 per cent). This is followed by architectural design (25 per cent), development investment (20 per cent) and partners (10 per cent).

Other industry veterans, such as Mr Robert Khoo, CEO of the National Association of Travel Agents Singapore, argued that "some form of duplication is inevitable. What matters to the lay traveller is if they have fun and are entertained".

But other tourism analysts point out that originality is "critical" in an increasingly globalised world, especially among well-travelled tourists.

Although huge draws in themselves, themed attractions like Disney and Universal Studios, for instance, tend to lack local flavour and are cookie-cut, said an analyst.

"The Government keeps using the word 'iconic', doesn't it? It wants something distinctive and unique that can't be duplicated," said an academic at a local university, who declined to be named. "With globalisation, places begin to look alike and ways of life, too, become similar. What drives much of leisure tourism is a search for difference."

The bidders will have to undergo two more rounds of presentations to the authorities at the end of this month and a winner will be picked early next month.

15 November 2006

Channel NewsAsia
Eighth Wonder unveils design details of its Sentosa IR bid

SINGAPORE: American architect Peter Marino's unusual design concept ?a casino with a facade that looks like a deck of flying cards ?is the latest ingredient Eighth Wonder has added to its bid for the Sentosa integrated resort.

The Las Vegas firm says the casino and hotel will be iconic in the use of innovative materials, high-tech fittings and the inclusion of contemporary art.

Eighth Wonder is hoping that Mr Marino's ultra-modern, minimalist design will tip the scales in its favour in the race to build the integrated resort in Sentosa.

Some of Mr Marino's well-known projects include a 10-storey Chanel Tower in Tokyo and flagship stores for other luxury brands like Fendi and Louis Vuitton.

His firm will design the Crown Casino, Crown Towers Hotel and the Banyan Tree resort in the premium part of Eighth Wonder's conceptual 'Harry's Island'.

In a video conference today, Mr Marino said the project would be the largest undertaken by his firm: "The whole concept was born as the idea of a deck of cards hurled in the winds. Probably the same set of winds that hurled Harry to the island. Each of the rectangles is based on the size and shape of a card in a deck of cards."

The facade of the resort would be covered by small panels of aluminium that move in the wind and appear swept by its environment.

Eighth Wonder CEO Mark Advent believes that the design will add weight to its bid.

Mr Advent said: "Our bid is world-class. It's creative, it's original, and it has never been seen before or done before. We're innovators of fresh ideas, not recyclers of old ideas that are just sort of spruced up for this initiative. I believe our bid is strong. It will draw tourism to Singapore. It will achieve 15 million people annually, first year and beyond. It's going to become a world-renowned icon."

Eighth Wonder will be making a technical presentation on 27th November and its final presentation on 29th November to a government panel.

It is planning to invest $5.5 billion dollars in the project, which is the biggest commitment so far among the three contenders.

The winner is expected to be announced early next month. - CNA/so

10 November 2006

The Business Times
Observations about S'poreans and money

It must have come as a surprise to many when it was revealed that the Senegal consulate premises was actually being used as a high-stakes gambling den. But unbeknownst to many, one person who escaped was a Senegalese journalist, who was working undercover at the consulate to file a report on 'Cultural Learnings of Singapore For Make Benefit Glorious Imposter Royalty of Africa'.

They spend enough on the gambling table to qualify as high rollers in any legitimate casino in the world, but they prefer to blow money in an illegal den

What nobody at the consulate knew was that the quiet admin clerk they thought was processing visa applications was actually doing a study on what it is about peoples' minds that makes them so vulnerable to email scams involving the supposed transfers of large amounts of money belonging to African princes with multi-syllabic names.

When questioned later, the honorary consul denied that there was an undercover journalist working in the consulate, although he admitted that he suspected something was wrong a couple of weeks ago, especially when the admin clerk seemed to be perpetually processing visa applications even though only two people a month actually applied for them.

The Senegalese journalist managed to sneak out with his controversial report, but not before making a copy, which we managed to get a hold of. Here's what it says:

'Observations of Singaporean and other Asians' behaviour in close gatherings surrounded by money:

1) People here are very much into appearances. That is why when they choose bodyguards, the more tattoos the bodyguards have, the more scary and hence, their perceived ability to scare off nosy neighbours.

2) Singaporeans are very easily impressed by labels. Not only do they like expensive cars like Mercedes or BMW, if you stick the word VIP in a room, immediately they will think that they are very special and will spend more money.

3) Singaporeans really like to eat fruit. It is especially more enjoyable when the fruit is only available to those who bet a certain amount of money. And when it is served by pretty girls who also give them face towels, it certainly lifts their egos. It also makes those who only qualify for water and coffee feel inadequate.

4) They are also somewhat complicated people. For example, they spend enough on the gambling table to qualify as high rollers in any legitimate casino in the world, but they prefer to blow money in an illegal den and buy beer from neighbouring coffeeshops. They also like to give themselves names like Johnson.'

At the end of the report, the journalist also makes suggestions for his government on what to look out for when searching for the new premises they now need. They include: better location, preferably not near snooker parlours and with better air circulation, and to appoint honorary consuls with a better knowledge of Senegalese traditions, which do not include friendly card games for potential investors.

And oh yes, a really good fruit supplier.

2 November 2006

AFP
Kerzner and CapitaLand bid to build 3.34-bn dollar Singapore resort

Chairman of Kerzner International Sol Kerzner (L), talks to reporters on the Singapore's second casino at Sentosa Island off Singapore. Casino operator Kerzner International and Southeast Asia's largest property group CapitaLand outlined plans to build a 5.28-billion Singapore dollar resort if they win the gaming licence for Sentosa island.

Casino operator Kerzner International and Southeast Asia's largest property group CapitaLand outlined plans to build a 5.28-billion Singapore dollar resort if they win the gaming licence for Singapore's Sentosa island.

The resort will be named "Atlantis Sentosa" to leverage on Kerzner's famous Atlantis gaming resort on Paradise island in the Bahamas, the two partners said Monday.Bahamas-based Kerzner and CapitaLand are one of three parties bidding for a gaming licence from the Singapore government to develop the Sentosa project.

"We are fully committed to the Sentosa integrated resort, and our commitment is underscored by our proposed investment of 5.28 billion dollars (3.34 billion US)," said Sol Kerzner, chairman of Kerzner International Monday. "The Singapore government has offered an exceptional opportunity to be part of a transformation that will further build tourism in Singapore and draw family visitors from around the world," he said.

The two partners made the announcement after presenting their bid Monday to the Singapore government.

Kerzner is developer, owner and operator of Atlantis, an ocean-themed gaming resort with 2,317 rooms on Paradise Island in the Bahamas and the company is currently extending the Atlantis brand to Dubai.

The two other bidders for the Sentosa project are Malaysia's Genting International and the privately-held Las Vegas firm Eighth Wonder.

A winner is to be announced by the end of the year.

The city-state in May awarded Las Vegas Sands a licence to build a 3.2-billion US dollar casino project in the waterfront Marina Bay area.

Singapore last year ended a ban on casino gambling in a bid to spruce up its staid image and attract more tourists.

31 October 2006

MediaCorp
Eighth Wonder Gives More Details On Its Proposal
Resort, to be called Harry's Island

Las Vegas casino developer, Eighth Wonder, says its proposal for its Sentosa IR bid will create 15 thousand jobs.

Chairman of Eighth Wonder, Mark Advent says the resort, to be called Harry's Island, aims to welcome 15 million tourists by 2014.

In its most detailed announcement to date, Eighth Wonder says a third of the 15 thousand jobs would be in F&B.

Harry's Island's 15 million visitors is projected to generate 5.6 billion dollars in visitor spending by 2015.

The 5.5 billion dollar resort would have 10 hotels with over two thousand rooms and 35 rides and attractions, created by Robert Ward, a co-founder of Universal Studios.

In the centre of Harry's Island sits an artificial dormant volcano, which promises free nightly shows for up to 7,500 people.

And Eighth Wonder Chairman Mark Avent is roping in big names to sweeten his bid.

World renowned wedding designer Vera Wang will open her first ever Hotel and wedding pavillions.

Soccer legend Pele will oversee a soccer stadium and a football academy.

Spiritual guru Deepak Chopra will run a spa and wellness center.

An oceanarium will be headed by Philippe Cousteau, the grandson of the late French undersea explorer Jacques Cousteau.

French celebrity chef Alain Ducasse will open a hotel and cooking school as well as help run as many as 50 F&B outlets .

The public would have free access to the island and its theme park and rides.

Eighth Wonder Mr Advent says Harry's Island is not a blueprint for a project that the company intends to build anywhere else in the world.

He says there would be only one "Harry's Island" which would belong only to Singapore .

"This is a total tourist must see. It's also a local place that they can call their own . There's a pride too as well . It's very important to us as we undertood the character and make up of Singapore to give them somthing that was truly their own."

Two other consortiums are also bidding for the Sentosa IR.

The government will announce the winning bid by year end.

31 October 2006

Reuters
Eighth Wonder's IR plans to feature 10-storey waterfall

SINGAPORE - A consortium led by resort builder Mark Advent said on Tuesday it would build a 10-storey waterfall as the centrepiece of its US$3.5-billion proposal to build and run Singapore's second casino resort.

Advent's privately-held Eighth Wonder and its three partners said their plans for the 49-hectare complex located on Singapore's resort island of Sentosa would include also a hotel built around a football stadium affiliated to Brazilian soccer star Pele and a spa retreat run by new-age guru Deepak Chopra.

The consortium, which includes Mississippi-based Isle of Capri Casinos, Australian tycoon James Packer's Publishing and Broadcasting and Macau's Melco International Development, has submitted the most expensive among three bids submitted for the project. The group is up against a US$3.1 billion bid by Malaysia's Genting Bhd and a US$3.3 billion proposal submitted by Bahamas-based Kerzner International and Singapore developer CapitaLand.

Advent said the resort, which will have 10 hotels offering more than 2,100 rooms, would be called 'Harry's Island' after a fictitious adventurer he created nicknamed 'Hurricane Harry'.

'He is a combination of James Bond and Indiana Jones, with a little bit of Hemingway thrown in for good measure,' Advent told reporters at a briefing.

The complex should generate $5.6 billion in visitor spending by 2015, allowing the consortium to break even five years after its scheduled opening in 2010, he said. -- REUTERS

31 October 2006

National Nine News
Singapore casino bid 'most expensive'

A consortium led by resort builder Mark Advent said a 10-storey waterfall will be the centrepiece of its $US3.5 billion ($A4.55 billion) proposal to build and run Singapore's second casino resort.

Advent's privately-held Eighth Wonder and its three partners said their plans for the 49-hectare complex located on Singapore's resort island of Sentosa would include also a hotel built around a football stadium affiliated to Brazilian soccer star Pele and a spa retreat run by new-age guru Deepak Chopra.

The consortium, which includes Mississippi-based Isle of Capri Casinos Inc, Australian tycoon James Packer's Publishing and Broadcasting and Macau's Melco International Development, has submitted the most expensive among three bids submitted for the project.

Advent said the resort, which will have 10 hotels offering more than 2,100 rooms, would be called Harry's Island, after a fictitious adventurer he created nicknamed 'Hurricane Harry'. "He is a combination of James Bond and Indiana Jones, with a little bit of Hemingway thrown in for good measure," Advent told reporters at a briefing.

The complex should generate $S5.6 billion in visitor spending by 2015, allowing the consortium to break even five years after its scheduled opening in 2010, he said.

The group is up against a $US3.1 billion ($A4.03 billion) bid by Malaysia's Genting Bhd and a $US3.3 billion ($A4.29 billion) proposal submitted by Bahamas-based Kerzner International and Singapore developer CapitaLand.

The government will award the project in early December.

October 2006

Dow Jones Newswires
Las Vegas casino developer Eighth Wonder unveils Singapore resort plan

Eighth Wonder, a Las Vegas casino developer vying to build Singapore's second casino-resort, Tuesday unveiled its proposal which included wedding pavilions designed by Vera Wang and a soccer stadium named after soccer legend Pele.

Other attractions include a spa and wellness center operated by spiritual guru Deepak Chopra and an oceanarium managed by EarthEcho International, a company headed by Philippe Cousteau, the grandson of the late French undersea explorer Jacques Cousteau.

All in, Eighth Wonder's proposal for the casino-resort on Sentosa island, which it has said is worth S$5.5 billion, involves the building of 10 hotels with over 2,100 rooms, a 7,500-seat theater within the crater of an artificial dormant volcano, and 35 rides and attractions created by a cofounder of Universal Studios Robert Ward.

The resort, called Harry's Island, will create an estimated 15,000 permanent jobs and is expected to draw some 15 million visitors by 2014, Eighth Wonder said.  "There will be only one Harry's Island, and that Harry's Island will belong only to Singapore, chairman Mark Advent said a news briefing Tuesday.
 
Tuesday's announcement by Eighth Wonder is its most detailed to date. The Las Vegas firm had previously kept its design for the Sentosa resort under wraps although it has revealed tie-ups in other areas.

In contrast, the consortium led by Genting International PLC (G13.SG) has said that a Universal Studios theme park will be its main attraction. A joint venture between Kerzner International Holdings Ltd. (KZL) and CapitaLand Ltd. (C31.SG) has unveiled plans to build a futuristic water theme park with live and robotic fishes.

Eighth Wonder had previously said that Melco PBL Entertainment will run the Sentosa casino as well as a Crown hotel if it succeeds in its bid for Sentosa. Starwood Hotels & Resorts Worldwide Inc. will manage another four hotels, while Singapore spa and resort operator Banyan Tree Holdings Ltd. will operate a resort and spa facilities.
 
In addition, French celebrity chef Alain Ducasse will open a hotel and cooking school as well as help run as many as 50 food and beverage outlets should Eighth Wonder's proposal be selected.

Eighth Wonder's equity partners in the bid for Sentosa are Melco PBL, which has a 24.5% share, and U.S. riverboat casino operator Isle Of Capri Casinos Inc. (ISLE) with 13.8%.

Responding to queries from reporters, Advent said Melco PBL, a 50:50 joint venture between Australia's Publishing & Broadcasting Ltd. (PBL.AU) and Hong Kong-listed Melco International Development Ltd. (0200.HK), hasn't yet cleared probity checks imposed by the Singapore government. "The probity checks are an ongoing process. It takes a bit of time," he said of Melco PBL, which joined the Eighth Wonder bid shortly before the Oct. 10 deadline for submission of proposals to local authorities.

Melco is controlled by Lawrence Ho, who is the son of Macau casino tycoon Stanley Ho.
According to a person familiar with the process, both the Genting International and Kerzner-led groups have already received certificates of eligibility from the Singapore government. These certificates must be renewed annually or whenever the casino-resort operator takes on a new equity partner or director.

Singapore last year legalized casino gaming and said it will allow casino-resorts to be built on two sites in the city-state as part of ambitious plans to double visitor arrivals to 17 million by 2015.

The first site, a 20.6-hectare piece of waterfront land at Marina Bay near the financial district, was awarded to Las Vegas Sands Corp. (LVS) in May; while the 49-hectare site on Sentosa is expected to be awarded in early to mid-December 2006.

31 October 2006

AP News
Singapore casino bid 'most expensive'

A consortium led by resort builder Mark Advent said a 10-storey waterfall will be the centrepiece of its $US3.5 billion ($A4.55 billion) proposal to build and run Singapore's second casino resort.

Advent's privately-held Eighth Wonder and its three partners said their plans for the 49-hectare complex located on Singapore's resort island of Sentosa would include also a hotel built around a football stadium affiliated to Brazilian soccer star Pele and a spa retreat run by new-age guru Deepak Chopra.

The consortium, which includes Mississippi-based Isle of Capri Casinos Inc, Australian tycoon James Packer's Publishing and Broadcasting and Macau's Melco International Development, has submitted the most expensive among three bids submitted for the project.

Advent said the resort, which will have 10 hotels offering more than 2,100 rooms, would be called Harry's Island, after a fictitious adventurer he created nicknamed 'Hurricane Harry'.

"He is a combination of James Bond and Indiana Jones, with a little bit of Hemingway thrown in for good measure," Advent told reporters at a briefing.

The complex should generate $S5.6 billion in visitor spending by 2015, allowing the consortium to break even five years after its scheduled opening in 2010, he said.

The group is up against a $US3.1 billion ($A4.03 billion) bid by Malaysia's Genting Bhd and a $US3.3 billion ($A4.29 billion) proposal submitted by Bahamas-based Kerzner International and Singapore developer CapitaLand.

The government will award the project in early December.

31 October 2006

The Sydney Morning Herald
Singapore casino bid 'most expensive'

A consortium led by resort builder Mark Advent said a 10-storey waterfall will be the centrepiece of its $US3.5 billion ($A4.55 billion) proposal to build and run Singapore's second casino resort.
Advent's privately-held Eighth Wonder and its three partners said their plans for the 49-hectare complex located on Singapore's resort island of Sentosa would include also a hotel built around a football stadium affiliated to Brazilian soccer star Pele and a spa retreat run by new-age guru Deepak Chopra.

The consortium, which includes Mississippi-based Isle of Capri Casinos Inc, Australian tycoon James Packer's Publishing and Broadcasting and Macau's Melco International Development, has submitted the most expensive among three bids submitted for the project.

Advent said the resort, which will have 10 hotels offering more than 2,100 rooms, would be called Harry's Island, after a fictitious adventurer he created nicknamed 'Hurricane Harry'. "He is a combination of James Bond and Indiana Jones, with a little bit of Hemingway thrown in for good measure," Advent told reporters at a briefing.

The complex should generate $S5.6 billion in visitor spending by 2015, allowing the consortium to break even five years after its scheduled opening in 2010, he said.

The group is up against a $US3.1 billion ($A4.03 billion) bid by Malaysia's Genting Bhd and a $US3.3 billion ($A4.29 billion) proposal submitted by Bahamas-based Kerzner International and Singapore developer CapitaLand.

The government will award the project in early December.

October

3 teams bid for 2nd Singapore casino
The Boston Globe

Three teams have submitted proposals by Tuesday's deadline to build and operate Singapore's second casino resort, the Tourism Board announced.

The submissions came from Las Vegas casino resort developer Eighth Wonder Asia; Malaysia's Genting International PLC and Star Cruises Ltd., who have added Universal Studios as a non-equity partner; and Kerzner International Ltd. and Singapore's CapitaLand Ltd.

The deadline for bids for the resort on Sentosa Island was Tuesday afternoon.
Lim Neo Chian, deputy chairman and chief executive of the Singapore Tourism Board, called the three bidders "accomplished players."

We are confident that we will see very strong and exciting proposals," Lim said.

He said the successful bid would be announced by the end of the year.

Singapore legalized casino gaming last year and said it would allow two casino resorts to be built. The first was awarded in May to Las Vegas Sands Corp. The $3.6 billion casino resort is expected to be operating by July 2009.

The scramble for the Sentosa project changed last week when Harrah's Entertainment Inc., the world's largest casino operator, and Singapore's Keppel Land announced they would not submit a proposal despite earlier intentions.

Harrah's is evaluating a buyout offer from two private equity firms that may have changed the equation, the company said.

Genting, which proposes to build a massive Universal Studios theme park if it wins the bid, is seen as the forerunner in the Sentosa race. On Monday, a Merrill Lynch report put Genting's chances to win at 75 percent.

Genting said in a statement Tuesday that its 5 billion Singapore dollar ($3.1 billion) resort would add 45,000 jobs to Singapore and attract 10 million visitors by 2015, after a soft opening in 2009.

Shortly before Tuesday's bid deadline, Eighth Wonder confirmed that it had partnered with Australian media and gaming company Publishing & Broadcasting Ltd.

Eighth Wonder chairman Mark Advent said the Australian company would operate the casino if its bid was successful.

PBL, along with its Macau joint venture partner Melco International Development Ltd., is an equity partner in the bid, according to Advent. Another casino operator, Biloxi, Miss.-based Isle of Capri Casinos Inc., is also an equity partner. If Eighth Wonder is the successful bidder, Isle of Capri will own a 13.8 percent interest in the project and its equity contribution will be $65 million, the company said in a statement Tuesday. It will be paid 2 percent of the casino's gross revenues for a 15-year period, Isle of Capri said.

Kerzner chairman Sol Kerzner said in a statement Tuesday that its joint proposal with Capitaland was "one of its kind in the world."

"It combines the unique competencies and know-how of the partnership with the architectural brilliance of Frank Gehry and his team. This will be a truly integrated resort and will be the must-see tourist attraction in Asia, drawing families and tourists to Singapore from around the globe," he said.

Kerzner will have the majority 60 percent stake, while CapitaLand will have the remaining 40 percent, the statement said.

31 October 2006

Beurs
Eighth Wonder Unveils Proposal For Singapore Casino

SINGAPORE -(Dow Jones)- Eighth Wonder, a Las Vegas casino developer vying to build Singapore's second casino-resort, Tuesday unveiled its proposal which included wedding pavilions designed by Vera Wang and a soccer stadium named after soccer legend Pele.

Other attractions include a spa and wellness center operated by spiritual guru Deepak Chopra and an oceanarium managed by EarthEcho International, a company headed by Philippe Cousteau, the grandson of the late French undersea explorer Jacques Cousteau.

All in, Eighth Wonder's proposal for the casino-resort on Sentosa island, which it has said is worth S$5.5 billion, involves the building of 10 hotels with over 2,100 rooms, a 7,500-seat theater within the crater of an artificial dormant volcano, and 35 rides and attractions created by a cofounder of Universal Studios Robert Ward.

The resort, called Harry's Island, will create an estimated 15,000 permanent jobs and is expected to draw some 15 million visitors by 2014, Eighth Wonder said.

'There will be only one Harry's Island, and that Harry's Island will belong only to Singapore, chairman Mark Advent said a news briefing Tuesday.

Tuesday's announcement by Eighth Wonder is its most detailed to date. The Las Vegas firm had previously kept its design for the Sentosa resort under wraps although it has revealed tie-ups in other areas.

In contrast, the consortium led by Genting International PLC (G13.SG) has said that a Universal Studios theme park will be its main attraction. A joint venture between Kerzner International Holdings Ltd. (KZL) and CapitaLand Ltd. (C31.SG) has unveiled plans to build a futuristic water theme park with live and robotic fishes.

Eighth Wonder had previously said that Melco PBL Entertainment will run the Sentosa casino as well as a Crown hotel if it succeeds in its bid for Sentosa.

Starwood Hotels & Resorts Worldwide Inc. will manage another four hotels, while Singapore spa and resort operator Banyan Tree Holdings Ltd. will operate a resort and spa facilities.

In addition, French celebrity chef Alain Ducasse will open a hotel and cooking school as well as help run as many as 50 food and beverage outlets should Eighth Wonder's proposal be selected.

Eighth Wonder's equity partners in the bid for Sentosa are Melco PBL, which has a 24.5% share, and U.S. riverboat casino operator Isle Of Capri Casinos Inc. (ISLE) with 13.8%.

Responding to queries from reporters, Advent said Melco PBL, a 50:50 joint venture between Australia's Publishing & Broadcasting Ltd. (PBL.AU) and Hong Kong-listed Melco International Development Ltd. (0200.HK), hasn't yet cleared probity checks imposed by the Singapore government.

'The probity checks are an ongoing process. It takes a bit of time,' he said of Melco PBL, which joined the Eighth Wonder bid shortly before the Oct. 10 deadline for submission of proposals to local authorities.

Melco is controlled by Lawrence Ho, who is the son of Macau casino tycoon Stanley Ho.

According to a person familiar with the process, both the Genting International and Kerzner-led groups have already received certificates of eligibility from the Singapore government.

These certificates must be renewed annually or whenever the casino-resort operator takes on a new equity partner or director.

Singapore last year legalized casino gaming and said it will allow casino-resorts to be built on two sites in the city-state as part of ambitious plans to double visitor arrivals to 17 million by 2015.

The first site, a 20.6-hectare piece of waterfront land at Marina Bay near the financial district, was awarded to Las Vegas Sands Corp. (LVS) in May; while the 49-hectare site on Sentosa is expected to be awarded in early to mid-December 2006.

30 October 2006

Associated Press
Earnings Preview: Las Vegas Sands

NEW YORK --Hotelier and casino operator Las Vegas Sands Corp. reports third-quarter earnings on Wednesday. The following is a summary of key developments and analyst opinion related to the period.

Las Vegas Sands, which is run by billionaire Sheldon Adelson, signed a development deal in August with the Singapore Tourism Board for its Marina Bay Sands casino resort. The signing allowed the company to officially take over the Marina Bay site to begin construction.

In May, Las Vegas Sands won a hotly contested bid to build Singapore's first casino, which is set to open in 2009. The company said it will invest more than $3 billion to develop the casino resort, which is expected to create 30,000 additional jobs by 2015.

Las Vegas Sands also completed an expansion of the Sands Macau to more than 229,000 square feet with 740 table games in August.

BY THE NUMBERS: Analysts polled by Thomson Financial are forecasting third-quarter earnings of 29 cents per share on revenue of $525.1 million.

ANALYST TAKE: JPMorgan analyst Harry Curtis is looking for Las Vegas Sands to beat analysts' expectations for the quarter.

"Macau should be stronger than expected and Las Vegas should be at least good enough," he said in an Oct. 16 client note.

Curtis is also looking to see what type of impact the September opening of the Wynn Macau has on the Sands' VIP business in the region, but noted that the fourth-quarter may provide a better perspective as the Wynn resort was operating for less than one month during the third quarter.

Curtis said the Sands Macau is seen reaching EBITDAR -- or earnings before interest, taxes, depreciation, amortization and rent -- of $116 million, but could push past $120 million on better-than-expected casino revenue growth due to an expansion in August and the Wynn Macau opening.

WHAT'S AHEAD: Las Vegas Sands is looking to open the $1.8 billion Palazzo casino resort in Las Vegas and the 3,000-suite mega resort, the Venetian Macau, on the Cotai Strip next year.

Brian McGill, an analyst with Wachovia Capital Markets, is optimistic on the company's long-term opportunities.

"Las Vegas Sands should continue to see tremendous growth for several years to come, as it continues to develop casino resorts in Macau and one integrated casino resort in Singapore," he wrote in a Sept. 21 client note.

Analyst Bill Lerner of Deutsche Bank is also upbeat on Las Vegas Sands' pipeline.

"In the near term, we anticipate continued strength at Sands Macau despite new supply, while the opening of Venetian Macau and Palazzo could lead to further appreciation," he wrote in an Oct. 30 client note.

Lerner initiated coverage with a "Buy" rating and $85 price target -- suggesting 13 percent growth over the stock's finishing price of $75.04 on Friday.

STOCK PERFORMANCE: Shares of Las Vegas Sands fell 12 percent during the quarter, but are up 90 percent since the start of the year.

30 October 2006

Morningstar
Eighth Wonder Unveils Proposal For Singapore Casino
 
SINGAPORE -(Dow Jones)- Eighth Wonder, a Las Vegas casino developer vying to build Singapore's second casino-resort, Tuesday unveiled its proposal which included wedding pavilions designed by Vera Wang and a soccer stadium named after soccer legend Pele.

Other attractions include a spa and wellness center operated by spiritual guru Deepak Chopra and an oceanarium managed by EarthEcho International, a company headed by Philippe Cousteau, the grandson of the late French undersea explorer Jacques Cousteau.

All in, Eighth Wonder's proposal for the casino-resort on Sentosa island, which it has said is worth S$5.5 billion, involves the building of 10 hotels with over 2,100 rooms, a 7,500-seat theater within the crater of an artificial dormant volcano, and 35 rides and attractions created by a cofounder of Universal Studios Robert Ward.

The resort, called Harry's Island, will create an estimated 15,000 permanent jobs and is expected to draw some 15 million visitors by 2014, Eighth Wonder said.

"There will be only one Harry's Island, and that Harry's Island will belong only to Singapore, chairman Mark Advent said a news briefing Tuesday.

Tuesday's announcement by Eighth Wonder is its most detailed to date. The Las Vegas firm had previously kept its design for the Sentosa resort under wraps although it has revealed tie-ups in other areas.

In contrast, the consortium led by Genting International PLC (G13.SG) has said that a Universal Studios theme park will be its main attraction. A joint venture between Kerzner International Holdings Ltd. (KZL) and CapitaLand Ltd. (C31.SG) has unveiled plans to build a futuristic water theme park with live and robotic fishes.

Eighth Wonder had previously said that Melco PBL Entertainment will run the Sentosa casino as well as a Crown hotel if it succeeds in its bid for Sentosa.

Starwood Hotels & Resorts Worldwide Inc. will manage another four hotels, while Singapore spa and resort operator Banyan Tree Holdings Ltd. will operate a resort and spa facilities.

In addition, French celebrity chef Alain Ducasse will open a hotel and cooking school as well as help run as many as 50 food and beverage outlets should Eighth Wonder's proposal be selected.

Eighth Wonder's equity partners in the bid for Sentosa are Melco PBL, which has a 24.5% share, and U.S. riverboat casino operator Isle Of Capri Casinos Inc. (ISLE) with 13.8%.

Responding to queries from reporters, Advent said Melco PBL, a 50:50 joint venture between Australia's Publishing & Broadcasting Ltd. (PBL.AU) and Hong Kong-listed Melco International Development Ltd. (0200.HK), hasn't yet cleared probity checks imposed by the Singapore government.

"The probity checks are an ongoing process. It takes a bit of time," he said of Melco PBL, which joined the Eighth Wonder bid shortly before the Oct. 10 deadline for submission of proposals to local authorities.

Melco is controlled by Lawrence Ho, who is the son of Macau casino tycoon Stanley Ho.

According to a person familiar with the process, both the Genting International and Kerzner-led groups have already received certificates of eligibility from the Singapore government.

These certificates must be renewed annually or whenever the casino-resort operator takes on a new equity partner or director.

Singapore last year legalized casino gaming and said it will allow casino- resorts to be built on two sites in the city-state as part of ambitious plans to double visitor arrivals to 17 million by 2015.

The first site, a 20.6-hectare piece of waterfront land at Marina Bay near the financial district, was awarded to Las Vegas Sands Corp. (LVS) in May; while the 49-hectare site on Sentosa is expected to be awarded in early to mid-December 2006.

28 October 2006

Channel NewsAsia
Decision on Sentosa IR likely in early December: Mah Bow Tan

National Development Minister Mah Bow Tan says he expects a decision on the Sentosa integrated resort before Christmas.

Speaking to reporters in China, he says Singapore's two integrated resort projects at Marina Bay and Sentosa are different.

He adds: "They are different bids; I think the two projects are different in several key aspects. I think in terms of the physical specifications, they are different; in terms of the target audience, they are also different. So we can't compare like for like, but in terms of the quality of the bid, I must say that they are all very good bids.

"I think whichever one we choose, Singapore will be the better for it. I believe the decision will be likely ready somewhere around early December or so - before Christmas definitely." - CNA/ch

26 October 2006

TODAYonline
Activists against having a whale of a time
But bidders reject argument that having whales, dolphins in oceanariums is harmful

TWO bidders for Singapore's second casino resort expect visitors to have a whale of a time, but activists say keep the whales, dolphins and whale sharks out.
The animal rights groups and animal lovers have, in recent letters to The Straits Times' Forum page and in Web postings, argued that having those animals in captivity was harmful to them.

Not so, say the two bidders - Kerzner International and Genting International.

Their ambitious resort oceanariums will be the world's largest when built.

Both will feature whale sharks as one of their star attractions. But animal lovers are perturbed that the captivity of the world's largest marine mammal is a 'giant step backwards' in animal welfare.

In defence, both Kerzner and Genting point to the credentials of their marine experts - a list of veterinarians and conservationists - as well as their track records in conservation.

Genting and Kerzner, the only pair in the three-horse race to have shown their bids, made public their proposals with much fanfare last week.

The third bidder is Eighth Wonder.

Arguing against having whale sharks in captivity, Forum page writer Thomas Paulraj Thamboo said last Thursday: 'These creatures need to be in the open sea, and a body of water the size of a lagoon (even a big lagoon) would inevitably put constraints on their natural behaviour and mode of living.'

Joining forces in a letter to Forum last week were the Society for the Prevention of Cruelty to Animals (SPCA), The Nature Society, and the Animal Concerns Research and Education Society (Acres).

The three groups jointly asked the Government not to approve the attractions.

In an interview, Acres president Louis Ng said on Monday: 'We can progress with the two IRs, but there is no need to do so at the expense of the animals.'

The two bidders were unfazed.

On the complaint about having to catch whale sharks in the wild, Genting's aquarium operator, Dolphin Quest, said its Sentosa exhibit would likely be pups purchased from fishermen - 'rescued' on their way to slaughterhouses.

Dolphin Quest's chief executive Jeff Jouett said: 'We've to have a wider perspective. In the wild, whale sharks are caught and eaten, sold for food. They do not have an easy life.'

Whale sharks are now in captivity in only three places: the Georgia Aquarium in Atlanta, the Okinawa Churaumi Aquarium, and Osaka's Ring of Fire Aquarium.

Their lifespans in captivity have not been impressive.

Asked if they were paying only lip service to conservation efforts, both bidders pointed to millions of dollars they had poured into research on sea creatures, and said they planned to do the same at Sentosa.

The groups are also against the captivity of whales and dolphins, especially the use of dolphins in aquarium shows.

But Mr Jouett said: 'Almost everything we know today about dolphins and whales has been learnt at aquariums and oceanariums.'

SPCA's executive officer Deirdre Moss questioned the need to have another aquarium.

Kerzner responded in an e-mail that polls have repeatedly shown that the public 'support, by an overwhelming margin', the educational efforts of good aquariums'.

Animal rights groups have complained before.

They wanted the Government to ban the performing pink dolphins in the Underwater World in 2003, but were unsuccessful.

Asked if they expected to make an impact this time, Mr Ng said: 'It's worth a try. If we can get them to come to a compromise, we'd have made progress.'

26 October 2006

The Star
Frank Gehry is Kerzner ace in S’pore casino bid
 
Frank Gehry, the archi