Genting may bid for Spanish casino licence: reports

Jul 25, 2014 Newsdesk Latest News, Top of the deck, World  

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Malaysian conglomerate Genting Bhd might file a bid to operate a casino in Spain’s BCN World, a large scale entertainment complex being planned for Barcelona.

Several Spanish media, quoting unnamed sources, are reporting that the company might be one of the bidders for one of the six casino licences to be issued for the project. The deadline to present a bid is Friday, July 25, at 10am Spanish time. Each casino licensee will have to invest a minimum of EUR300 million (US$403 million) in BCN World.

BCN World is expected to include casinos, hotels, convention centres, leisure centres and residential areas.

Genting is engaged in gaming operations in Singapore, the Philippines, Europe and the United States. It is also the parent company of Genting Malaysia Bhd, which operates Malaysia’s only casino resort.

At least one Asia-based casino operator is expected to deliver a bid for BCN World – Hong Kong-listed Melco International Development Ltd. The company in May announced it had signed a memorandum of understanding with Veremonte España SL, the company promoting the BCN World project, to operate at least one casino in the complex. Veremonte is headed by Spanish businessman and entrepreneur Enrique Bañuelos.

In addition to casinos, Melco International’s project for BCN World is expected to include more than 10,000 hotel rooms, an exhibition and congress centre, a theatre, shopping centres, offices and up to 5,000 residential units, according to a company statement.

Media reports say that Veremonte has signed a similar agreement with Hard Rock group for the project’s second development phase. Spanish media reports from earlier this week said Veremonte had also engaged Caesars Entertainment Corp for the BCN World’s third phase. Both Hard Rock and Caesars Entertainment are expected to bid for casino licences. Caesars Entertainment is reportedly ready to invest EUR500 million to build a casino hotel in BCN World.

Genting would bid for its casino licence independently from Veremonte, the media reports said.

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