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CR82-p02&03-International:SJC-Casino Review 26/7/09 09:33 Page 1
Jamaica maps out casino goal
Jamaica is to use casino tourism to boost visitors
once the economy has recovered, with Prime
Minister Bruce Golding confirming a bill has been
prepared and is due to be discussed. “We spent a
long time preparing the draft, because we wanted
to ensure that every sentence was right: Every ‘t’
was crossed and every ‘i’ dotted,” he said. “Before
you can get a licence, you have to give us a
bankable guaranteed commitment that you are
going to build new hotels, with not less than
2,000 rooms and an investment of
not less than US$1.5bn. We want
hotel rooms and we want
Sands celebrates the
Frank to
work on
rise of Marina Bay
overhaul in
One of the most important, and expensive
ever casino projects, and also the one
which analysts hope will slacken the noose Massachusetts Representa-
around Las Vegas Sands’ operational neck,
tive Barney Frank informed
is taking shape in Singapore. The three
1,700 players at the no-limit
Texas Hold 'em main event of
towers at Marina Bay Sands have now the World Series of Poker held
been completed symbolising light at the
at the Rio in Las Vegas that
online gambling would soon
end of the tunnel for Sands.
be allowed in the US.
According to the congress-
takingshape ing on our promise to Singa-
The three towers of Marina
Bay Sands rising on the right
man, internet gambling is a
SINGAPORE pore and we remain commit-
hand side of the bay’s skyline
right that should be protected.
ted to creating the landmark, Frank wants to suspend and
Las Vegas Sands has com- premier integrated resort in ultimately overturn the Unlaw-
pleted its three 55-storey Southeast Asia.” ful Internet Gambling Enforce-
hotel towers at Marina Bay The opening of Singapore’s ment Act. Last year his bill was
Sands in Singapore nearly two first casino has been put back rejected by a Congress which
weeks ahead of schedule, several months due to short- floor every four days, an SkyPark will be longer hori- shops, celebrity chef restau- was then mainly Republican.
marking a major milestone in ages of labour and materials, unprecedented pace for sky- zontally than the Eiffel Tower rants and world-class enter- Now with Democrats control-
a striking and iconic project the chairman of developer scraper construction in Sin- is tall and will be the largest tainment for Marina Bay ling both the House and the
to bring Singapore a premier Las Vegas Sands has said. gapore. cantilevered public observa- Sands. There will truly be Senate, he feels he has a
integrated resort. Of the opening he said: Marina Bay Sands will be a tion deck in the world. something for everyone.” better chance of success.
However, the venue is “The opening date we seri- unique destination in the Work on the interior and When completed, Marina “I did not push the bill last
likely to open a few months ously anticipate will be in region. It will be home to the exterior of the hotel towers is Bay Sands will feature large year because it was clear Presi-
later than expected with January or February. We can’t Sands SkyPark and the well underway and the roof is and flexible convention and dent Bush would have vetoed it,”
January/February 2010 being control the flow of sand to Museum, that symbolises the taking shape on the Sands exhibition facilities, approxi- Frank explained. “Now that we
touted. make concrete with, we can’t ‘welcoming hand of Singa- Expo and Convention Centre mately 2,600 luxury hotel have a president that I know is
The company’s senior control the availability of steel pore’, packaged together as and on the casino. Other areas rooms and suites, the breath- not in hock to the right wing, I
executives celebrated the and we can’t control the avail- part of a world-class inte- are progressing well. taking rooftop Sands SkyPark, plan to move this bill forward.
completion of the towers ability of labour due to other grated resort nestled in the George Tanasijevich, a museum, Las Vegas-style We have two bills, one to
with an event that attracted projects that are in the heart of the city’s Central Busi- general manager and vice gaming, the Paiza Club for suspend the regulations and one
approximately 120 regional market.”The architects and ness District and the ever- president of Singapore Devel- premium players, theatres, to repeal the whole thing and set
and local media as well as construction managers expanding tourism and opment, Marina Bay Sands, entertainment, an outdoor up new regulations. So it is my
members of the Singapore employed industry-leading entertainment district at said “Marina Bay Sands will be event plaza, and unparalleled intention this fall to bring up in
government, the construc- construction solutions on Marina Bay. a magnificent destination, shopping and dining. the committee bills that I'm
tion team, and other distin- their way to the 55th storey. The Sands SkyPark is the with world-class entertain- The Marina Bay Sands in sponsoring. I think they're going
guished guests. The construction team had to next critical phase of con- ment, convention facilities, Singapore is one of the few to pass. I am really optimistic
Las Vegas Sands chairman, use steel trusses to link the struction. The contractor will dining, shopping, Las Vegas- projects that Sands has con- we're going to get this repealed.”
Sheldon Adelson, who came east and west legs of each hoist the 7,000-ton structure style gaming, and a luxury tinued construction on In a dig at the money men
to Singapore for the event, tower about half way up and 200 meters to the top of the hotel. It will transform the having struggled in the eco- responsible for the downturn in
said: “Topping the hotel used innovative methods to towers using technology skyline and bolster Singa- nomic downturn. It has the economy, he said: “It is odd
towers at Marina Bay Sands is seal the atriums in each of the usually used in building pore’s image as the city for stopped construction on that we say no gambling, when
a milestone in an exciting con- three towers and in-between bridges. The process of lifting business and leisure tourists projects in Macau, laying off the country is in a terrible eco-
struction and engineering them. After the steel trusses each of many individual sec- to visit again and again. Over 11,000 workers but hopes to nomic hole because of gam-
project. We’re pleased to be were in place, the team was tions can take a full day. When the next few months, we will resume construction some- bling. The difference is the law
another step closer to deliver- able to build one new hotel it is completed, the Sands unveil a range of luxury brand time this year. that passed by the Republicans
stops individuals from gam-
bling in the thousands with their
own money. At the same time,
MGM rules out Strip sales
they were allowing other insti-
tutions to gamble in the billions
with other people’s money.”
striptease engaged in any discussions “Now that we’re not as
UNITED STATES on those. We don’t feel like forced a seller, bid valua-
we could come close to tions are rising. Prospective
MGM Mirage has said it what we believe the values buyers are offering more “
does not plan to sell any of are worth. The multiples The operator has taken
its casinos on the Las Vegas are low, it seems like the advice from Morgan
Strip as the current market wrong time.” Stanley on the potential
won’t allow it to fetch a Speaking to Bloomberg, sales of its MGM Grand
fair price for any of its Murren said the operator Detroit, the Beau Rivage
properties would probably decide in Biloxi and the Gold
MGM Mirage chief exec- within the next month Strike in Tunica.
utive officer Jim Murren whether to sell three prop- Murren ruled out selling
said: “As it relates to Strip erties in Michigan and Mis- its stake in the Borgata in
Barney Frank
properties we haven’t sissippi. Murren added: Atlantic City.
2 August 2009 • internationalnews
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