Packer Group Unsuccesful in Singapore Casino Bid

Publishing and Broadcasting Ltd (PBL) has been unsuccessful in obtaining a casino licence from the Singapore government, as part of the Eighth Wonder Asia syndicate.

PBL and its joint venture partner in Asia, Melco International Development Ltd, had joined the bid for Singapore's second casino licence as a minority participant in the consortium headed by the US firm, Eighth Wonder.

The syndicate had placed a bid to operate an integrated resort including a casino on Sentosa Island, Singapore.

PBL executive chairman James Packer described the participation by the Melco/PBL joint venture in the bidding process as a valuable experience.

He said Melco/PBL would continue to seek further opportunities for investment in the rapidly expanding Asian gaming, hospitality and entertainment markets.

Mr Packer said he had been enormously impressed by the Eighth Wonder concept conceived by Mark Advent and by the depth of creative talent, energy and professionalism of the consortium partners.

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