Vegas Firm Partners with Banyan Tree on Sentosa Project
Banyan Tree Holdings of Singapore, a developer of first-rate hotels and spas in the Asian Pacific, has parterned with Las Vegas casino gambling developer Eighth Wonder to potentially build the 2nd of two casinos going up on Sentosa Island in Singapore.
The plan is if Eighth Wonder wins the bid for the Sentosa Island casino resort, Banyan Tree Hotels & Resorts will be the manager and operator.
Singapore is going to announce the winner of the Sentosa bid by the end of the year. In an effort to boost tourism, Singapore legalized casino gaming and said it would allow two casino resorts to be built on Sentosa Island. The 1st license was given to Las Vegas Sands, which plans to open a $3.5 billion casino gambling facility by July 2009.
There are 2 other teams competing for the final license:
1) Malaysia's Genting International, Star Cruises, and non-equity partner Universal Studios.
2) Kerzner International and Singapore's CapitaLand Ltd.
October 16, 2006
Posted By Terry Goodwin
Staff Editor, CasinoGamblingWeb.com
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