Singapore is putting a minimum $1 billion on casino operators competing for play sponsorship. Some of these contenders are; Kerry Packer's Publishing & Broadcasting Ltd and Tabcorp Holdings. They are just two of twelve that bidding for the space. Many others are bidding high that space.
This price tag means that potential bidders, including other big Vegas names will need $1 billion to bid, and at least $3 billion to build. It is a price tag people re considering, and may want to back out of. The land doesn’t seem worth that much.
Tabcorp Corporate Affairs General Manager Bruce Tobin believes the bidding price is just where it should be. Their company expected that price, and is still willing to bid on it. Others didn’t comment whether they are still in or out of trying to close that deal. |
