March 15 (Bloomberg) -- Wynn Resorts Ltd., the Las Vegas- based casino company headed by Stephen Wynn, is offering to spend as much as $1.5 billion to win the right to build and run Singapore's first casino, Wynn President Ronald Kramer said.

The proposal, one of 19 competing for government approval, will be an ``iconic'' design that would cost more than twice the $700 million earmarked for a casino it's building in southern China's Macau, Kramer, 46, said in a telephone interview.

Wynn Resorts, MGM Mirage and Las Vegas Sands Inc. are among companies that gave designs to Singapore's government, which will announce in April whether it will end a ban on casinos to lure tourists and gamblers. The island is within six hours flying time for more than 2.5 billion people in Asia, where the number of millionaires rose 8.4 percent in 2003, according to a Merrill Lynch & Co. and Capgemini Group study.

``The quandary is whether Stephen Wynn is able to convert his casually elegant Las Vegas-oriented architecture to the kind of design architecture that the Singapore government is seeking,'' said Jonathan Galaviz, a partner of Galaviz Ong & Co., which tracks the global gaming industry.

Wynn was the developer of Las Vegas's Treasure Island and Bellagio casinos, and of the Mirage, famed for a man-made volcano that would erupt nightly and spill fake lava.

Kramer said the Singapore development will complement other properties in the city, declining to elaborate for competitive reasons. It will be consistent with the ``contemporary'' design of the $2.7 billion resort Wynn Resorts is opening in Las Vegas next month, he said.

``Singapore's a world financial capital,'' Kramer said. ``So, we are looking at how we can build something where we can distinguish the gaming product as part of the skyline.''

Bellagio, Atlantis

The company's Wynn Las Vegas will employ more than 8,000 people and include 12,716 hotel rooms. In June, it started construction of its Macau casino in China, which had 236,000 millionaires at the end of 2003, according to the June Merrill survey, which didn't include home values in calculations.

Wynn sold Mirage Resorts Inc. to billionaire Kirk Kerkorian five years ago after the $1.7 billion Bellagio failed to meet targets. He since formed Wynn Resorts, which has a market value of $7 billion after its shares almost doubled in the past year.

The Bellagio design has been featured on a Singapore government Web site set up to draw feedback on the casino. Other resorts featured include Las Vegas Sands Corp.'s Venetian and Kerzner International Ltd.'s Atlantis in the Bahamas.

Still, ``the Singapore government has clearly stated that no Las Vegas-oriented architecture would be considered acceptable,'' Galaviz said.

Caesars

Harrah's Entertainment Inc. has said it will use its Caesars brand if it wins the franchise, pledging to make Singapore its regional headquarters if it succeeds. It has also underlined its experience running social programs to reduce problem gambling, aiming to ease concerns about the risks a casino may carry.

Singapore said that on April 18 it will announce its final decision on whether to allow a casino to be included in a convention and entertainment center. The design will be a critical factor when it awards the project.

In Singapore, the government has offered two sites, a waterfront downtown property and a tourist resort island south of the city. Bidders can choose to bid on one or both sites. Wynn's bid only included the downtown site because it expects the location to generate ``the level of excitement and entertainment'' needed for a casino in the city, Kramer said.

Harrah's Entertainment and MGM Mirage, Wynn's two biggest rivals, have both linked with Singapore companies in their bids.

``Our point of view is if there's going to be gaming in Singapore, it's about having the best design, and not the right local partner,'' Kramer said.

To contact the reporter on this story: Linus Chua in Singapore at lchua@bloomberg.net.

Last Updated: March 14, 2005 23:25 EST