Harrahs and Keppel Land Join Together for Sentosa Casino Bid
Harah's Entertaiment has announced that it is pursuing the Sentosa casino bid with Keppel Land Ltd, a Singaporean firm.
The team did not specify if they will submit a disclosure statement on Monday because the information in Singapore's Today newspaper revealed that they had split with Architect Jon Jerde.
Mr. Jerde is a U.S based architect that was intended to design the Sentosa casino.
In a statement, both companies would create a proposal for the Sentosa resort.
Harrah's Entertaiment, the leading American gaming company, said that they would work with Keppel Land to submit a proposal that will meet the requirements of Singapore Tourism Board.
The next public statement would be released to coincide with the submission date on October 10, 2006.
The New York Stock Exchange shares of the Harrah's had rose two cents and close at 60.11 U.S. dollars.
Singapore had scrapped last year the decade old ban on casino gambling and has allowed the construction of casinos in the city state.
Las Vegas Sands has received the first casino license to build a casino at Marina Bay.
Eight Wonder Asia, Genting International PLC of Malaysia with Star Cruises Ltd., Kerzner International Ltd. with CapitaLand Ltd. of Singapore are the three other teams that had submitted disclosure forms for the Sentosa bid.