Harrah's Pulls Out Of Singapore Casino Bid
LAS VEGAS, NV / SINGAPORE, October 6, 2006. Harrah's Entertainment, Inc. (NYSE:HET) and Keppel Land (SGX:KPLD) today issued the following statement regarding the companies' decision not to submit a bid proposal for the Singapore Tourism Board Sentosa Island integrated resort project:
"Over the last three months, Harrah's, Keppel, and our partners have worked tirelessly on a proposal for a spectacular integrated resort at Sentosa Island that would meet the Government of Singapore's ambitious goals for the site. We brought together a broad range of talent to design a unique, world-class project that would fulfill Singapore's aspirations.
"Regrettably, we determined it would not be possible to deliver a development on the scale we envisioned for Sentosa Island while meeting our objectives for this project. Accordingly, we decided not to submit a response to the request for proposal.
"Harrah's remains committed to development in Asia. And, Harrah's, Keppel and our partners wish the Government of Singapore every success with its Sentosa Island integrated resort which has several other qualified bidders."
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