Iswaran did not rule out the participation of government-owned companies in the project, known as Marina Bay Sands, should Sands run out of funding, Iswaran said on the state-run Channel NewsAsia. Sands has not asked the government for money, Iswaran said.
Sands plans to suspend several casino projects in Macao and Las Vegas after saying last week it was in danger of breaching lending conditions and defaulting on $5.2 billion in debt.
Sands, one of the casino companies hit hardest by an economic slowdown that has savaged the gambling industry, also said it would sell preferred stock and warrants to the family of its chief executive, Sheldon Adelson.
Analysts said Sands planned to raise $2.14 billion in new capital. The company's auditor said last week that there were doubts about the ability of Sands
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Sources :
- The International Herald Tribune: Singapore will not bail out struggling casino operator, November 12, 2008
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