Wynn Resorts out of Singapore casino licenses

14.12.2005, Lesen Sie hier den Bericht über «Wynn Resorts out of Singapore casino licenses».

Only five candidates had met Friday´s deadline for submission of documents



(Singapore).- Local authorities said that U.S. casino operator Wynn Resorts has been eliminated from the race to build Singapore’s first casino after failing to submit a background check by a deadline imposed by the city-state.

Only five candidates had met Friday’s deadline for submission of documents for a compulsory background check, the Singapore Tourism Board said in a statement late Friday. The government had asked shortlisted candidates to send in personal and corporate history disclosure forms.

Wynn joins Australia’s Tabcorp Holdings and Singapore-listed Guocoland among those who appear to have withdrawn this week. South Africa’s Peermont Global backed out earlier.

Singapore reversed its decades-old ban on casino gambling earlier this year and is offering licenses to build and operate two casino resorts in a bid to shed its straight- laced image and help attract more tourists.

Analysts said the two casino resorts, to be completed by 2009, will cost around us$ 5 billion -- about us$ 3 billion for the one at Marina Bay and us$ 2 billion for the one on Sentosa Island.

The Friday deadline was only for the Marina Bay project. The Singapore government will tender the Sentosa project next year, and it is not immediately clear if the Las Vegas- based Wynn Resorts intends to bid then.

Among those who met the deadline include Las Vegas casino companies Harrah’s Entertainment, Las Vegas Sands, MGM Mirage and Malaysia’s Genting International.

Singapore has a fixed price for the Marina Bay project, and said it would pick the winners based on the quality of its concept.

Über Wynn Resorts Holdings, LLC:

Wynn Resorts, Limited (Nasdaq: WYNN) is traded on the Nasdaq Global Select Market under the ticker symbol WYNN and is part of the S&P 500 Index.

Wynn Resorts owns and operates Wynn Las Vegas (wynnlasvegas.com), Encore Boston Harbor (encorebostonharbor.com), Wynn Macau (wynnmacau.com) and Wynn Palace, Cotai (wynnpalace.com).

Wynn and Encore Las Vegas feature two luxury hotel towers with a total of 4,748 spacious hotel rooms, suites and villas, approximately 192,000 square feet of casino space, 22 dining experiences featuring signature chefs and 11 bars, two award- winning spas, approximately 290,000 square feet of meeting and convention space, approximately 160,000 square feet of retail space as well as two showrooms; two nightclubs, a beach club and recreation and leisure facilities. Wynn Las Vegas recently unveiled the new Wynn Golf Club and 18-hole, 129-acre championship golf course, and in February 2020 will debut a 430,000- square-foot meeting and convention space expansion powered by 100 percent renewable energy.

Most recently, Mr. Wynn was Chairman of the Board, President and Chief Executive Officer of Mirage Resorts, Incorporated and its predecessor from 1973 to 2000. In that role, he was responsible for the development of Bellagio, The Mirage, Treasure Island at The Mirage and the Golden Nugget in Las Vegas, Nevada as well as the Atlantic City Golden Nugget in New Jersey and Beau Rivage in Biloxi, Mississippi.

--- Ende Artikel / Pressemitteilung Wynn Resorts out of Singapore casino licenses ---


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