The investment value cited by Sands is higher than theUS$3.1-billion figure suggested by Genting International and StarCruises yesterday. Sands and the Genting International-Star Cruisesconsortium are among four groups that formally submitted proposalsfor the casino-resort project to the Singapore government earlierthis week.

The other bidders for the Marina Bay casino, which will be builton 20.6 hectares of waterfront land near Singapore's financialdistrict, are the a consortium comprising MGM Mirage and CapitaLandand a consortium comprising Harrah's Entertainment and KeppelLand.A statement by Sands said it is committed to opening theentire casino resort--to be called the Marina Bay Sands--in 2009.It added that its proposal includes plans for 2,500 hotel rooms;1.2 million sf of convention and exhibition space; one million feetof retail; three large entertainment venues; restaurants; a museumoffering "the best in international cultural and populistexhibits"; and separate facilities for premium gamblers.

Sands officials also unveiled an artist's impression of itsproposed complex, which showed three hotel towers with a common skyroof overlooking its convention centers, theaters and casino. Theworld's most expensive casino to date resort is Wynn Las Vegas,which was built at a cost of US$2.7 billion.