SINGAPORE – The Singapore government has acknowledged it is in talks with Las Vegas Sands to help finish a US$4 billion casino project in the city-state.
The Singapore Tourism Board will “facilitate the success†of the project at Marina Bay but has not indicated whether that would include financial support for the integrated resort development.
STB is reported to be “monitoring the situation and is aware that the current uncertain economic climate may give rise to concernsâ€.
The talks with Singapore follow the casino operator’s hiring of an investment bank to raise more capital with the help of billionaire chief executive Sheldon Adelson.
Las Vegas Sands plans to open its Singapore casino by end-2009 although a report in the Straits Times newspaper indicated the casino project was several months behind schedule due to construction issues and a shortage of labour.
A second casino development, Genting International’s Resorts World at Sentosa, is due for completion in 2010.
