By Linus Chua and Gene Otani
Nov. 30 (Bloomberg) -- Harrah's Entertainment Inc., which is buying Caesars Entertainment Inc. to become the largest U.S. casino company, said it's interested in a planned Singapore gaming development that it will use to expand in Asia.
Las Vegas-based Harrah's will seek a local partner if it is allowed to open a casino in the city-state, Charles Atwood, Harrah's chief financial officer, said in an interview in Singapore today.
``We see Singapore as a jumping-off spot for the rest of Asia to complement the position we have in the U.S.,'' Atwood said. ``This is a center for Asian commerce, adding a casino would make it a bigger tourism destination.''
Singapore's government is considering scrapping its ban on casinos after last year's outbreak of severe acute respiratory syndrome emptied hotels and cut visitor arrivals to a two-decade low. More than 2.5 billion people live within seven hours flying time from Singapore, where legal gambling is restricted to lotteries and betting on horse racing and soccer.
Facing rising competition from other Asian countries for tourists, the government said in March it may include a casino in a resort and residential development planned for an offshore island. The plan is now described as an ``integrated'' entertainment center including hotels, restaurants and gaming, possibly in the city center.
The proposed development has also attracted informal expressions of interest from Las Vegas operators including MGM Mirage, which owns the Bellagio, and Las Vegas Sands.
To contact the reporter on this story: Linus Chua in Singapore at lchua@bloomberg.net.
Last Updated: November 29, 2004 22:42 EST
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