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Singapore last year reversed its decades-old ban on casino gambling, and said it would award licenses to operate a casino resort at Marina Bay and another on the resort island of Sentosa to boost tourism and help the city-state shed its straight-laced image. Las Vegas Sands was selected for the Marina Bay license over three other bidding groups — MGM Mirage and Capita Land Ltd., Harrah's Entertainment Inc.Continue Reading

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The casino-resort at Marina Bay, which will be built on a 50.9-acre waterfront site near the financial district, is likely to cost more than 5 billion Singapore dollars ($3.16 billion), Singapore's Deputy Prime Minister S. Currently, the world's most expensive casino is the $2.7 billion Wynn Las Vegas that was completed late last year. Sands' President and Chief Operating Officer William Weidner welcomed the Southeast Asian island-republic's decision.Continue Reading