Malaysia might add a casino to boost troubled $100 billion mega-development Forest City [Business Insider]
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Source: Business Insider
The casino, which would be the second in the country, could rejuvenate the struggling property. The move may attract Singapore tourists, who pay a daily tax to gamble at home. Malaysia's Forest City mega-development started with big ambitions and big money. Announced in 2006, the luxury housing project in the south — easily accessible from Singapore — would house 700,000 people and feature a waterpark and hotels. The whole project cost its developers $100 billion. But, eight years after construction began, only a few thousand people live there. The project has turned into a ghost town — and a major liability for its developer, which is facing sizable financial issues elsewhere. Now, Malaysia is in talks with several high-profile investors to add a casino to Forest City, people familiar with the matter told Bloomberg on Wednesday. The southeast nation's Prime Minister Anwar Ibrahim met with the heads of a Malaysian property development firm and a resort company at Forest C
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