Plans to do it without any partners
(Singapore).- According to the local newspaper Straits Times, Las Vegas gaming entrepreneur Steve Wynn wants to compete for the right to build Singapore´s first casino, putting him in competition with the likes of MGM Mirage and Kerzner International Ltd. Unlike its rivals that are planning tie-ups with local partners, Wynn Resorts Holdings aims to go it alone, the paper quotes Wynn´s President Ronald Kramer as saying.
Kramer said Wynn Resorts is eyeing the site in Marina, just south of the island´s central business district, adding the firm´s investment could be anywhere between the us$ 704 million and us$ 2.7 billion it spent recently on projects in Las Vegas and Macau.
Last December, Singapore called for potential investors to submit concept plans for an integrated resort that may include a casino. If the concepts are compelling, the government will formally request proposals from the investors. The deadline for the concept plan is February 28th. Besides Marina, the government has also identified the resort island of Sentosa as a possible site for its integrated resort.
Singapore´s CapitaLand Ltd, Southeast Asia´s largest property developer by assets, last month announced it is teaming up with Kerzner to come up with a proposal for Sentosa, and MGM Mirage for the Marina bid.
Other parties that are expected to vie for Singapore´s casino project include Harrah´s Entertainment of the US, Malaysia´s Genting Bhd., and Macau´s gaming tycoon Stanley Ho.
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.
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