Sands bets $3.6bn on casino plan

Singapore hopes the casino will boost tourism

Las Vegas Sands Corp has said it will invest $3.6bn if it wins the contract for Singapore's first casino.

The cash would make the waterfront entertainment resort "possibly one of the most expensive... ever proposed", Sands said in a statement.

Sands was one of four groups to submit bids to the government for the Marina Bay supercasino, with others including US rivals MGM Mirage and Harrah's.

Tourism officials are expected to name the winning contract later this year.

Bidding battle

Sands is the only company to table a solo bid for the project. MGM has teamed up with Singapore's Capitaland while Harrah's has joined Singaporean developer Keppel Land.

The fourth bid has come from Malaysia's Genting International and Star Cruises - both part of the larger Genting Group.

Sands' proposals for the site - which it expects to open in 2009 - include a 2,500-room hotel, convention and exhibition space, a museum and separate facilities for "high roller" or premium gamblers.

Singapore, normally known as a conservative city-state, recently reversed an ban on casino gambling in a bid to attract Asian gamblers and boost its tourism revenues.

The tender process for a second casino on Sentosa island is set to open on 28 April.