US-based Harrah’s Entertainment and Keppel Land Ltd., a Singapore firm, recently announced that they would team up to submit a bid for the second casino license in Singapore. In a joint statement, the companies informed that they are working on a proposal to build a resort at Sentosa Island, in the southern coast of the city-state.
Three other groups are also competing for the license: Eight Wonder Asia, a Las Vegas casino developer; a joint venture between Genting International PLC from Malaysia and Star Cruises Ltd.; and a joint venture between Kerzner International Ltd. and CapitaLand Ltd. from Singapore.
In 2005, Singapore’s government legalized casino gambling and decided to allow the construction of two casinos. The first license was granted to Las Vegas Sands Corp. in May 2006.