The developers must submit their plans in the coming weeks, the Straits Times said reported.

"We are not interested in a gambling hall, or a little pokey gambling den," the paper quoted Senior Minister of State for Trade and Industry Vivian Balakrishnan as saying.

"What we would consider would be a large-scale iconic, integrated entertainment resort."

The report didn't suggest a price tag for the casino project, although officials have previously said it could cost more than S$700 million ($A552 million).

Some of Las Vegas' biggest players, such as MGM Mirage Inc and Harrah's Entertainment Inc have expressed interest in the project, which if it goes ahead, is expected to be located on the southern resort island of Sentosa.

Macau casino king Stanley Ho's group is also reportedly keen to invest.

But the project has not been greeted with wholesale enthusiasm - some individuals and religious groups have voiced concerns that a casino in the island nation could create gambling addicts and might encourage organised crime.

The government plans to evaluate feedback from Singaporeans on the casino project, but it was not immediately clear when or how the casino would finally be approved.

Singapore had previously resisted the idea of building a casino but now officials seem eager to cash in on Asia's multibillion dollar gaming industry - dominated by casinos in Macau, South Korea, Malaysia, Cambodia and the Philippines - to boost tourism takings.

The large-scale resort development is sure to be a money-spinner and will increase Singapore's coffers, the Straits Times quoted Balakrishnan as saying.

"Only the casino owner and the government who taxes the casino owner are sure to make money," he said. "Everybody else in the long run loses money."

Singapore's trade ministry officials confirmed the newspaper report of  Balakrishnan's comments was accurate.

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