Genting International says it views the Sentosa integrated resort as being more important than its investment in Macau.

The comment came as the gaming company signed the development agreement for the Sentosa project.

The Genting International-Star Cruises consortium officially took over the site for the Sentosa integrated resort on Thursday after paying S$605 million for the land premium.

Construction will begin almost immediately, beginning with excavation works.

Genting-Star Cruises will soon be calling for a tender to appoint a main contractor after it has refined and enhanced design details of the project.

There's been much buzz surrounding the project on talk there could be complications following a tie-up in Macau between Genting and Star and a group of investors involving gaming tycoon Stanley Ho.

But the newly-appointed CEO of Resorts World at Sentosa reiterates Genting's commitment to Sentosa.

Tan Hee Teck, CEO, Resorts World at Sentosa, says: "Resorts World at Sentosa is fully committed to the success of this development. We fully understand the need for thorough and stringent suitability checks. We are working closely with the authorities, and will ensure that Resorts World at Sentosa meets the suitability requirements for a casino licence."

Genting-Star Cruises also highlighted the fact that it owns 100 percent of Resorts World at Sentosa - while they would only have a minority interest in Stanley Ho's upcoming project in Macau.

In its statement on Wednesday, the consortium said it was working closely with Singapore officials on obtaining the casino licence for Sentosa.

But they refused to comment on how this might impact on their investment in Macau.

STB CEO Lim Neo Chian also clarifies that the integrated resort can only apply for a casino licence when it has completed 50 percent of the Gross Floor Area and after spending at least half of the S$5.2 billion development investment.

However, the resort refuses to comment on how Star Cruises will review Stanley Ho and group of investors' 6.99 percent stake in the cruise operator.

Star Cruises had earlier asked the Singapore Exchange up to the end of the month to review the deal.

Resorts World at Sentosa also announced that it will be investing between S$60 million to S$80 million to construct a new 3-lane bridge adjacent to the existing Sentosa Gateway Bridge.

Presently the resort and Sentosa are working out details on how to re-route the traffic in anticipation of an increase in tourist traffic going over to the island come 2010 when the resort is opened. - CNA/ch