Genting comes clean over Sentosa casino

Saturday, 29 Mar, 2007 0

SINGAPORE: Casino operator Genting International has avoided what was shaping up to be an embarrassing clash with the Singapore government over a licence to operate a casino resort on Sentosa island.

Genting has agreed to buy sister company Star Cruise’s 25 per cent stake in the Sentosa project – expected to open in 2010 – for US$168 million to obtain full control over the project.

Singapore’s Ministry of Home Affairs cautioned Genting last month that there was no guarantee it would qualify for a gaming licence despite winning the bid to build the US$3.4 billion Resorts World casino resort on Sentosa, and that the company and its associates would have to prove they could run a clean gambling venue.

Singapore’s concern was Genting’s business association with casino czar Stanley Ho, who has extensive interests in Macau’s gaming empire.

Genting had hoped to enter the casino business in Macau in return for giving Ho and other investors a seven per cent stake in Star Cruises, which had 25 per cent of the Sentosa resort project.

Earlier this month, Genting said it would sell its share in a Macau investment to Star Cruises. And now that Star Cruises is selling its share of the Singapore casino-resort, Genting believes has cut all connections to Ho.



 

profileimage

Ian Jarrett



Most Read

Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know

Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham

Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago

Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research

Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact

Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference

Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role

Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal

Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination

Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness

Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future

Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
TRAINING & COMPETITION
Skip to toolbar
Clearing CSS/JS assets' cache... Please wait until this notice disappears...
Updating... Please wait...