Tuesday February 27, 7:43 PM
Singapore says has not yet awarded casino licence to Genting
SINGAPORE, Feb 27 (Reuters) - Singapore said it has not yet awarded a casino licence to Genting Bhd. , even though the Malaysian gaming group won a tender in December giving it the right to build and run a $3.4-billion resort in the city-state.
Genting's two affiliates Star Cruises and Genting International caught the authorities by surprise last month when they announced a separate tie-up with Macau gambling tycoon Stanley Ho.
"The signing of the development agreement and the issuance of a casino licence are two separate matters," Singapore's Ministry of Home Affairs casino regulator said in an emailed statement on Tuesday.
"The signing of the development agreement allows Genting International and Star Cruises to proceed with the construction of the integrated resort. However, it does not automatically qualify them for the casino licence, which is needed before it can operate the future casino."
On Thursday, Genting is due to sign an agreement with Sentosa Development Corp., a government-owned body which runs the resort island where the casino will be built.