The government has invited 12 shortlisted international firms and their local partners to submit their detailed proposals for the planned casino resort at the downtown Marina Bay site between November 15 and March 29, 2006.

Marina Bay is envisaged to include convention and exhibition facilities, themed attractions, entertainment and performance venues, casino gaming, recreation facilities, hotels and retail uses.

The government also fixed the value of the site at S$1.2 billion (US$710 million) so the bidders will focus on their concepts instead of trying to outbid each other for the land.

"If we try to maximise the land price through a competitive tender, then the proposers would scale back their investment in the IR (integrated resort)," the Singapore Tourism Board said in a statement.

"The government has therefore decided to fix the land price for the IR. With certainty in land price, the proposers will be able to devote their full energy and resources to come up with the best IR concept."

Singapore lifted a ban on casinos this year despite strong domestic opposition, saying the gaming resorts -- with an expected combined cost of $5 billion -- will boost the country's tourism industry and the economy in general.

Officials have also said the casinos would help spice up Singapore's staid image, and moved to allay community concerns over problem gambling by offering counselling services and imposing entrance fees and other requirements.

The integrated resorts are a "very critical component of our tourism strategy," Trade Minister Lim Hng Kiang told a news conference.

"We want to double our tourist arrivals and triple tourism receipts."

The bidding for the second casino resort on Sentosa island is targeted to be launched in the first quarter of 2006 and will close four months after the Marina Bay winner is awarded, the tourism board said.

"This will allow those who are not successful in the Marina Bay exercise to participate in the Sentosa (project). Both IRs are expected to be operational in the next four to five years," it said.

The projects have lured many of the world's top gaming firms, such as Harrah's Entertainment, Wynn Resorts, MGM Mirage, Las Vegas Sands Corp. and Tabcorp Holdings.

Some of them have roped in local and international partners to boost their bids.

                                                      Home