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Genting Leads Bid for Singapores Second Casino-ResortHarrah's Entertainment is up against Eight Wonder and Kerzner International Ltd, as well as Genting. Harrah needs a leisure partner, because as analysts said Genting Bhd's venture with Universal Studios is the strongest bid so far for Singapore's second casino-resort. James Tan, analyst at DBS Vickers Securities Pts., said "Universal Studios is a very strong trump card. Harrah's needs to come up with something comparable to Universal Studios and I expect them to excite the market with a strong entertainment partner." The competition for the best entertainment concept to tap into Asia's growing tourism market will end by October. These four bidders should have the ability to attract leisure tourists, that will determine who will be awarded the license. The bidders are expected to propose investments of as much as $5 billion Singapore dollars, Tan said. Last week the Universal Studios proposed building a theme park bigger than the location in Los Angeles, Genting, Asia's biggest publicly traded casino operator said. Eight Wonder cited what it built in Las Vegas, the roller-coaster in New York New York casino-resort. While Kerzner's Atlantis in the Bahamas is known for its water rides and the world's biggest aquarium. Teamed up with the city-state's third largest developer Keppel Land Ltd, Harrah's Entertainment have not yet unveiled its plan for the project. |
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