Two Way Hard Three | Las Vegas Casino & Design Blog
October 6, 2006
Harrah's Scraps Singapore Plan
Posted by HunterLooks like we have our first casualty of the pending Harrah's buyout offer - the company has decided not to compete for the second casino to be built in Singapore (the first went to Las Vegas Sands).
Harrah's Won't Compete for Singapore
Technorati Tags: gaming industry, harrahs, singapore
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- motoman recently commented "" 'Regrettably, we determined it would not be possible to deliver a develop..." in Harrah's Scraps Singapore Plan
- detroit1051 recently commented "This is the strongest opinion I've read opposing the private takeover of Ha..." in Harrah's Scraps Singapore Plan
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Comments
This is the strongest opinion I've read opposing the private takeover of Harrah's:
http://www.valleyblogs.com/mckee/2006-10-10/id_1745
" 'Regrettably, we determined it would not be possible to deliver a development on the scale we envisioned for Sentosa Island while meeting our objectives for this project,' Harrah's said in a statement Friday."
That makes it sound like it was too expensive for them.
Well Wynn I presume is definitely out.
On the one hand, "While Singapore's initial request for concepts drew offers from about 19 prospective bidders, all but the final four gradually pulled out, with some, like Stephen A. Wynn, the chief of Wynn Resorts, criticizing Singapore for micromanaging the projects out of profitability. "
http://travel2.nytimes.com/2006/05/27/business/worldbusiness/27casino.html
Las Vegas Sands Is Chosen to Build Singapore Casino - New York Times
On the other, " 'Singapore is going to be great for Adelson and the opportunity is going to be fine for him,' Wynn of Wynn Resorts said. 'The timing was poor for me in Singapore so I couldn�t play the game.' '�
http://knowthis.wordpress.com/2006/09/12/las-vegas-sands-gets-cheap-loan-for-singapore-casino/
I wonder if this changes things. Probably not, given Wynn Resorts' previous statements about being spread thin by current projects. And if Singapore won't give full control of his project.