On Friday another deadline passed in the process of bidding to build and operate Singapore’s first integrated resort at Marina Bay. Final proposals do not have to be submitted until March, but documentation for probity checks and a payment of S$400,000 had to be submitted before the Friday deadline. It is now evident that only five groups are still in the race.

The five remaining groups include three US gaming giants, one of which is likely to be the eventual winner. Harrah’s, MGM Mirage and Sands are now only competing against Genting/Star Cruises and PBL/Melco, with Wynn and Tabcorp the latest to drop out. Until the Singapore government names the chosen project for Marina Bay next year, probably around June, the tender process for the Sentosa Island project will not commence. This would allow the four losing bidders, if all five groups presently remaining tender next March, to submit new proposals for Sentosa.

So far not a great deal is known about the proposals for Marina Bay. Some plans, such as the Sands project for a Guggenheim Museum, have already been dropped. The Singapore Government wants a landmark development that will enhance and complement the character of Singapore, just as the Sydney Opera House has become instantly identifiable with that city and Australia. The purchase price of the land where the casino resort will be constructed at Marina Bay has been set at S$1.2 billion. Total development costs have been estimated as high as US$5 billion and there are some questions about the future viability of the two Singapore casinos. (E-12.12.05)

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