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Casino Operators Refuse Aid from Singapore Company

Singapore is the new hot spot for casino sites. Casino companies, like the Las Vegas Sands and Harrah’s Entertainment, Inc., are currently placing bids to build two new casino resorts in this lovely land. Las Vegas Sands has decided not to form a partnership with a Singapore company for the building of its casino. They claim they do not need a local partner for extra funding.

Although Las Vegas Sands has held several talks with local companies regarding partnership, no company has been chosen thus far. Because the deadline to name a partner is this Friday, it seems this company will be building its casino solo. This is permitted because of the new rule made last month by the Singaporean government that private companies do not need to join forces with local companies for the official bid to build a casino resort.

The two casino resorts are part of a larger plan to bring in more tourists to Singapore. With these two companies, which are considered part of the top three out of nine casino companies that are bidding to build casino resorts in this country, an increase in tourism to this country is almost guaranteed.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.