Genting International and Star Cruises Proceed with Sentosa Casino Although Unsure of License

On February 27, 2007, Singapore’s Home Affair’s Ministry said that Genting International and Star Cruises will be able to start the construction of the planned integrated resort in Sentosa.

However, whether the group will get the needed license to manage the gambling casino is another issue altogether since they still need to pass a suitability test. Nonetheless, the ministry’s statement gives clues that the Genting International Group can go ahead with the planned Integrated casino/resort in Sentosa and have confidence that they will indeed be able to pass the suitability check.

There have been many rumors surrounding the planned casino in Sentosa, since both Genting International and the Star Cruises have only recently announced their partnership. Both have agreed to buy the project in the previously Portuguese Territory and Star Cruises said that they would sell about a 7.25% to group investors represented by known gambling tycoon, Stanley Ho.

However, the agreement quickly became known to Singapore Officials, which is why there has been some concern over Stanley Ho’s involvement in the integrated casino/resort in Sentosa. There were rumors that both Genting and the Star Cruises might back-off from the Macau agreement as they feared they would lose the opportunity to construct the casino in Sentosa.

Both Genting and the Star Cruises signed the development license on March 1, 2007. The Home Affairs Ministry commented that the consortium will be eligible for the license if they pass the suitability check, which will be conducted immediately after the two gaming organizations pass the necessary forms.