Thursday, October 30, 2008

Singapore's casino opening to be delayed-report

SINGAPORE, Oct 30 (Reuters) - The full opening of one of Singapore's casinos may be delayed due to construction issues and a shortage of labour, a local newspaper reported on Thursday.

The Marina Bay Sands integrated resort, awarded to Las Vegas Sands (LVS.N: Quote, Profile, Research, Stock Buzz) in 2006, is several months behind schedule, the pro-government daily Straits Times said, citing sources. The casino was due to open at the end of 2009.

The newspaper said the foundation work for the casino was delayed three to four months and quoted sources as saying it was "impossible" for all its facilities to be fully operational by the end of 2009.

Marina Bay Sands officials were not immediately available for comment.

Built on reclaimed land from the sea, the project is one of two multi-billion dollar casinos under construction since Singapore legalised casino gaming in 2005 to attract more tourists.

The second casino, Resorts World at Sentosa, is being built by Genting International (GNTG.SI: Quote, Profile, Research, Stock Buzz) and is scheduled for completion in 2010.

Resorts World may also see a delay in the opening of some of its facilities, although a casino spokeswoman said it was "on track" for a "soft opening" in 2010, the paper said.

The two casinos have been hit by higher construction costs since building began, causing Genting International to revise its costs for Resorts World up 15 percent to S$6 billion last year.

(Reporting by Melanie Lee; Editing by Anshuman Daga)

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