Eighth Wonder plans 10-storey waterfall for Singapore casino

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Message was posted: 05:31 Oct 31st, 2006

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Casino news from http://today.reuters.com:80/

SINGAPORE, Oct 31 (Reuters) - A consortium led by resort builder Mark Advent said on Tuesday it would build a 10-storey waterfall as the centrepiece of its US$3.5-billion proposal to build and run Singapore's second casino resort.

Advent's privately held Eighth Wonder and its three partners said their plans for the 49-hectare complex located on Singapore's resort island of Sentosa would include also a hotel built around a football stadium affiliated to Brazilian soccer star Pele and a spa retreat run by new-age guru Deepak Chopra.

The consortium, which includes Mississippi-based Isle of Capri Casinos Inc. (ISLE.O: Quote, Profile, Research), Australian tycoon James Packer's Publishing and Broadcasting (PBL.AX: Quote, Profile, Research) and Macau's Melco International Development (0200.HK: Quote, Profile, Research), has submitted the most expensive among three bids submitted for the project.

Advent said the resort, which will have 10 hotels offering more than 2,100 rooms, would be called "Harry's Island" after a fictitious adventurer he created nicknamed 'Hurricane Harry'.

"He is a combination of James Bond and Indiana Jones, with a little bit of Hemingway thrown in for good measure," Advent told reporters at a briefing.

The complex should generate S$5.6 billion in visitor spending by 2015, allowing the consortium to break even five years after its scheduled opening in 2010, he said.

The group is up against a US$3.1 billion bid by Malaysia's Genting Bhd (GENT.KL: Quote, Profile, Research) (GNTG.SI: Quote, Profile, Research) and a US$3.3 billion proposal submitted by Bahamas-based Kerzner International and Singapore developer CapitaLand (CATL.SI: Quote, Profile, Research).

The government will award the project in early December.

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