Some of the biggest gaming companies in the United States are competing to get the licenses for two casino resorts in Singapore. Las Vegas Sands Corp., and MGM Mirage, along with other applicants, will have to compete and offer the best project in order to obtain the license for these casinos. In total, there will be 12 bidders competing to get both licenses. The Government expects both casinos to create over 30,000 jobs in the region. The resorts might include museums, convention centers, hotels, theme-parks, and other attractions which will be a great source of employment.
The price of the site downtown is 707 million US Dollars. The price for the site on the island of Sentosa will be announced later. Casino operators who will obtain both licenses are expected to spend over 5 billion Dollars on the two casino resorts. The main criteria that will be used to choose the best project are based on design, development expenses, past records, architecture, concept, and tourist attraction potential. So these are the areas where bidders will compete, for price is not an obstacle for any of them. As a matter of fact, some bidders have already tried to negotiate with other candidates in order to have more chances to get the bid. For example, Universal Studios and Genting Bhd are planning to build a theme-park on the island of Sentosa, and Las Vegas Sands and Clear Channel’s Entertainment are planning to invite big stars to the casino, such as The Rolling Stones or Madonna, and perform Broadway musicals, if they obtain the license for the casino downtown. Sean Monaghan, analyst at Merril Lynch and Co in Singapore stated that everyone will benefit from the selection criteria chosen for it focuses on management and creativity rather than in economical potential. Thus, Singapore residents, local Government, and future guests will all benefit from it.