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Harrah's says it is re-evaluating Singapore casino bid

Harrah's says it is re-evaluating Singapore casino bid

The world's largest casino operator, Harrah's Entertainment Inc., said Thursday it is re-evaluating its joint bid to build a casino resort on Singapore's Sentosa Island after receiving a $15 billion (euro11.79 billion) buyout offer from two private equity firms.
Harrah's had planned on making the bid with Singapore property firm Keppel Land Ltd. by the Oct. 10 deadline.
But the buyout offer from Apollo Management and Texas Pacific Group, which it announced Monday, may have changed the equation, Harrah's said.
"In light of the events of Monday, Oct. 2, we, the joint venture of Keppel and Harrah's, are evaluating all of our options," said Harrah's spokesman Alberto Lopez, reading from a statement.
The company has been silent about its plans for the second casino license in Singapore after failing to win a first bid at Singapore's Marina Bay, which was awarded to Las Vegas Sands Corp. in May. Harrah's original project was to have involved a James Cameron movie-inspired theme park. Cameron directed such films as "The Terminator," "The Abyss" and "Titanic."
Three other teams have applied for Singapore's second casino license: Las Vegas casino resort developer Eighth Wonder Asia; a joint venture between Malaysia's Genting International PLC and Star Cruises Ltd.; and a joint venture between Kerzner International Ltd. and Singapore's CapitaLand Ltd.


Updated : 2021-07-26 06:56 GMT+08:00