Taubman/Gordon Team with Harrah's Entertainment and Keppel Land for Marina Bay Integrated Resort
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Taubman/Gordon Team with Harrah's Entertainment and Keppel Land for Marina Bay Integrated Resort
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Category: North America & West Indies / Carribean islands
This is a press release selected by our editorial committee and published online for free on 2006-02-06
Harrah's Entertainment, Inc. (NYSE:HET) and Keppel Land, announced the signing of a memorandum of understanding with Taubman Asia, Ltd and Gordon Group Holdings. (Taubman/Gordon). Subject to the completion of definitive documentation, Taubman/Gordon and Singapore Integrated Resorts, Inc. (SIR - Harrah's Operating Company, Inc. and Keppel Land Investment Private Limited) will create a retail joint venture to conceptualize, and submit a proposal to design and operate the retail shopping experience of the integrated resort at Marina Bay. This agreement continues to build upon other highly successful retail environments associated with Harrah's operations in both Las Vegas and Atlantic City.
"Taubman/Gordon provide our Marina Bay integrated resort project team with unprecedented insight into a unique retail experience," said Richard Mirman, senior vice president, development of Harrah's Entertainment. "Taubman/Gordon's unique and global perspective and regional connection will be invaluable. Ultimately, the Marina Bay IR retail experience developed by Taubman/Gordon will complement the existing, rich nature of Singapore's shopping scene."
"We are excited to join the world class SIR - Marina Bay team and believe our selection is a testament to Taubman's global leadership in casino-related retail projects," said Morgan Parker, president, Taubman Asia. "The magic of how we present the world's finest brands is the key to our 50-year track record of success in retail development. We plan to bring this same magic to Singapore and develop an unparalleled venue for the world's leading retailers and restaurateurs."
"The opportunity to develop a unique entertainment retail experience with SIR on the Marina Bay IR project is exciting," said Sheldon Gordon, chairman, Gordon Group Holdings. "The goal will be to bring the finest retail brands, entertainment and dining to Marina Bay. Our experience and creative flair in casino retail, as demonstrated by The Forum Shops in Las Vegas and the Pier in Atlantic City, added to Taubman's accomplishments such as the phenomenal Short Hills Mall in New Jersey, can surely enhance Singapore's existing retail offerings."
Taubman Centers, Inc. and Gordon Group Holdings are currently working with Harrah's Entertainment in Atlantic City on the $175 million project known as The Pier at Caesars. The project is set to open in late spring 2006, and will be home to more than 100 high-end retailers from Gucci and Louis Vuitton to Hugo Boss, Burberry and Tiffany & Co., and more than 10 restaurants.
The list of world-class local and international companies joining the ranks with Harrah's and Keppel grows longer and more prestigious with the Taubman/Gordon announcement. Earlier in December 2005, the two companies announced their Marina Bay integrated resort also would have an exclusive marketing agreement with Suntec Singapore International Convention and Exhibition Centre, as well as global entertainment expertise provided by AEG Live.
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