Singapore Selects Mark Advent's Eighth Wonder as Finalist for Nation's First Integrated Resort and Gaming Licenses.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- Eighth Wonder, a resort developer led by gaming and entertainment industry pioneer Mark Advent, has confirmed that the company and partner Starwood Hotels & Resorts Worldwide (NYSE NYSE See: New York Stock Exchange :HOT) are among the finalists being considered to operate one of Singapore's first integrated resorts. Singapore Prime Minister Lee Hsien Loong Lee Hsien Loong, 1952–, prime minister of Singapore (2004–). The eldest son of Lee Kuan Yew, Singapore's first prime minister, Lee was educated at Cambridge and Harvard while also serving (beginning in 1974) in Singapore's armed forces. announced April 18 that the nation's government would lift a nearly 40-year ban on gaming and award licenses to two integrated resorts by the end of 2005. From an initial pool of 19 concepts, the partnership of Eighth Wonder and Starwood is on a short list to be awarded a license. The finalists will refine their proposals for presentation to the Singapore Tourism Board The Singapore Tourism Board (Abbreviation: STB; Chinese: 新加坡旅游局) is a statutory board under the Ministry of Trade and Industry of Singapore, tasked to promote the country's tourism industry. in the third quarter of '05. The two selected resorts, at Singapore's Marina Bayfront and on Sentosa Island, would aim to open in 2009. "I applaud the Prime Minister and the Government of Singapore The Government of Singapore is formed by the political party which gains a simple majority in the general elections held in Singapore at least once every five years. It is part of Singapore's political system and supported by the Singapore Civil Service. for wisely and responsibly considering the long-term needs of the country and its citizens," said Advent, Eighth Wonder's founder and the creator of the hugely successful New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of New York Hotel & Casino in Las Vegas. "The tourism industry in Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. is becoming increasingly competitive, and creating world-class destination experiences will give Singapore a tremendous advantage." Eighth Wonder, which is not disclosing details of its own inventive resort proposal for Singapore, estimates the project will cost approximately US $1.8 billion. As its management partner, Eighth Wonder selected Starwood, a global leader in the hospitality industry. "Embarking with Mark Advent and Eighth Wonder on this new frontier New Frontier President John F. Kennedy’s legislative program, encompassing such areas as civil rights, the economy, and foreign relations. [Am. Hist.: WB, K:212] See : Aid, Governmental in Singapore is an exciting opportunity," said Miguel Ko, Starwood's Asia Pacific President. "We are confident that together we can create one of the finest integrated resort experiences in the world." Advent plans to visit Singapore later this week to meet with government officials. He is known as one of the most creative individuals in the global entertainment and leisure industry. Advent created the $465 million New York New York Hotel & Casino, which continues to generate one of the highest returns on investment for any Strip hotel and casino property. Also in Las Vegas, Eighth Wonder is developing East Village, a 1 million sq. ft., US $225 million retail and entertainment center near the airport of America's fastest-growing city. In the coming months, the company plans to announce the development of another Las Vegas casino resort. Eighth Wonder is also active in casino resort development in Poland and Argentina. About EIGHTH WONDER Headquartered in Las Vegas, Eighth Wonder is a private, closely held company Closely held company A company who has a small group of controlling shareholders. In contrast, a widely-held firm has many shareholders. It is difficult or impossible to wage a proxy battle for any closely-held firm. that conceives, designs and develops entertainment and leisure resorts, retail complexes and casinos around the world. Eighth Wonder is led by industry pioneer Mark Advent. His unique city design of New York New York Hotel & Casino inspired billions of dollars in city-themed developments along Las Vegas Boulevard. About STARWOOD HOTELS & RESORTS WORLDWIDE Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with more than 750 properties in more than 80 countries and 110,000 employees. With internationally renowned brands, Starwood is a fully integrated owner, operator and franchisor of hotels and resorts including: St. Regis, The Luxury Collection, Sheraton, Westin, Four Points by Sheraton Four Points by Sheraton is Starwood Hotels & Resorts mid-market hotel brand, targeted towards business travelers and small conventions. Four Points was created by the former ITT Sheraton before Starwood acquired the firm in 1998. , W brands, as well as Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwood.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion