Singapore’s dilemma: Ho or no Ho?
The Singapore government is reported to be seeking clarification of the involvement of Macau gaming czar Stanley Ho in the proposed Resorts World integrated resort on Sentosa island.
It is widely believed that Ho, octogenarian owner of the Lisboa and 15 other Macau casinos, has a small stake in the Sentosa integrated resort and casino that is being developed by Malaysia’s Genting International in partnership with Star Cruises.
In return, Genting would be dealt into Ho’s Macau operations. Reports from Singapore now suggest Ho’s involvement in gaming in Singapore would not sit easily with the Singapore government.
The Ho issue has become a distraction as Singapore challenges rivals like Macau and Dubai in its bid to become one of the world’s super cities for entertainment and business events.
Mark Goh, head of Singapore’s Marina Bay Development Agency, said that a “necklace of attractions” would transform Marina Bay, site of the Las Vegas Sands Integrated Resort, due to open in 2009.
Goh said Marina Bay, on the edge of the city and adjacent to the new financial district, will be developed over the next 15-20 years.
Private investors have already committed S$9 billion to Marina Bay projects. “People share our dream for Marina Bay. It will become the new focal point for Singapore,” Goh added.
Developments alongside the Sands resort in Marina Bay will include a floating stadium for special events; the Singapore Flyer, a giant observation wheel bigger than the London Eye; Gardens by the Bay, three themed gardens, and a redeveloped Collyer Quay containing a boutique hotel, food, retail and entertainment outlets.
Resorts World at Sentosa, due to open in 2010, will include Universal Studios – only the second Universal Studios in Asia after Osaka, water and marine parks, and six hotels.
Ian Jarrett
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