Bloomberg.com, 10 Oct 2008, Chen Shiyin
Nov. 10 (Bloomberg) -- Singapore's government may form a venture with CapitaLand Ltd. to take over one of the island's two casino-resorts if Las Vegas Sands Corp. fails to stave off loan defaults, CIMB-GK Research Pte said.
Las Vegas Sands, the gaming company that said last week it may default on debt and face bankruptcy, reiterated on Nov. 8 that it's committed to the $4 billion Singapore resort. The company has drawn down at least S$2 billion ($1.3 billion) from a S$5 billion credit facility by several banks for the project.
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