Harrahs Evaluating Bid for Singapore Casino

Harrah's Entertainment Inc., the world's largest gambling company, is still deciding whether it should bid for a casino in Singapore, a spokesman said on Wednesday, ahead of a July 31 deadline.

It later said it would decide on whether or not to bid for the second casino, which is planned for Singapore's resort island of Sentosa.

"We are continuing to evaluate our position in Singapore," Harrah's spokesman Alberto Lopez said. "There is a considered amount of effort that is ongoing as we review our position."

In Singapore, three groups have already said that they will bid on the Sentosa island project. Southeast Asia's larget developer, Capital and Ltd, has said it is pushing ahead with a jpint bid with Bahamas-based Kerzner International, while resorts builder mark Advent has said he would bid with his privately owned Eighth Wonder with Starwood Hotels and Resorts and Isle of Capri Casinos Inc.

A third bidding group, Malaysia's Genting group, has an exclusive tie-up with theme park company Universal Studios.

Harrah's, which has been aggressive in other regions, including Europe, is yet to open a casino in Asia, including the booming gambling market in Macau.

Harrah's, which reports its second-quarter results on Thursday, saw it shares fall 28 percent to $64.08 in afternoon trading on the New York Stock Exchange.

The bidders face a July 31 deadline to deposit a fee and submit forms to Singapore authorities, Harrah's Lopez said. The final bids are due in October.