Genting Int'l Raised $2.17b To Pay For Casino Resort

Source : TODAY, Thursday, September 13, 2007

Genting International has raised $2.17 billion from a rights offering to help pay for the development of its Singapore casino resort.

The offer followed its issue of $875 million in convertible bonds, bringing the total proceeds to more than $3 billion.

The Singapore-listed gaming company said it has awarded $600 million worth of contracts.

Genting has said it expects the casino — to be located on Sentosa island — to be completed in 2010 at a cost of about $5.2 billion.