Singapore Gamblers Attract Venetian Casino

The Las Vegas Sands Corporation, led by owner and third-richest man in America Sheldon Adelson, continues to expand its worldwide gaming empire. The latest foray by the company is a new resort and casino to be built in Singapore. Sands was just extended a $3.7 billion dollar loan to construct the new project.

Adelson, whose fortune ranks behind only Bill Gates and Warren Buffet among U.S. citizens, has pushed expansion constantly since buying the Sands Hotel in Las Vegas. First, he leveled the Sands and erected the Venetian Hotel and Casino. After further expanding the Venetian, the Sands Corporation then opened the Venetian Macao last year, the world's largest casino. December 30th, the Palazzo was opened next door to the Venetian as a sister property.

Now Sands will go into the newly created market in Singapore. Casino gambling was legalized in Singapore in 2005, and the city has allowed for the construction of two new casinos, of which Venetian Singapore will be one.

The plans are for the complex to contain 2500 hotel rooms, and over a million feet each of convention and retail space. Three different entertainment venues will be built inside the property.

Wlliam Weidner, president and CEO of Sands Corporation, suggested the company found the loans to build in Singapore easier to obtain, in spite of a worldwide credir crunch, due to Singapore's bustling economy.

January 8, 2008
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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