Government has designated site for Marina Bay area
HONG KONG — Hong Kong movie conglom Media Asia has partnered with MGM Grand and Asian property developer CapitaLand in a bid to break into Singapore’s emerging casino market.
It is one of four consortia bidding to build and operate Singapore’s first licensed casino, which the government has designated for the Marina Bay area.
Media Asia would supply A-list Asian stars and acts from its own stable and that of the related E Sun group, which has interests ranging from real estate and media investment to talent management. E Sun manages thesps Shu Qi, Anthony Wong and Edison Chan and represents Leon Lai in his music career.
Media Asia, which listed in Singapore in late 2004, also manages a library of more than 200 movies.
Rival bidders include Las Vegas Sands Corp., a consortium pairing Harrah’s Entertainment with Singapore developer Keppel and Malaysia’s Genting Intl. Winner should be announced in the second half of this year, with the opening scheduled for 2010.
The Singapore government envisages licensing a second casino in the Sentosa district.