Genting International's plan to build a Universal Studios theme park makes it the favourite to clinch Singapore's second casino licence early this month, analysts say.

Genting and its sister company Star Cruises have tied up with Universal Parks and Resorts of the United States to beat two other bidders for the casino "resort", offering gaming alongside other attractions, on Sentosa island.

Universal Studios theme parks already operate in Japan and the United States ( left ) where they offer attractions including "Revenge of the Mummy - The Ride" and "Terminator 2:3D".

The Genting-Star Cruises team, part of Malaysian casino operator Genting Group, is up against Bahamas-based casino operator Kerzner International, which has teamed with Southeast Asia's largest property group CapitaLand.

Analysts say the Kerzner team will put up a good fight while the third bidder, privately-held Las Vegas firm Eighth Wonder, stands less of a chance.

Eighth Wonder is undertaking its bid with Australia's Publishing and Broadcasting Ltd and Hong Kong's Melco International Development Ltd, who operate together in the Chinese gambling enclave of Macau, and with Isle of Capri Casinos Inc.

Each contender has vowed to spend more than US$3.2 billion on the project, a figure roughly in line with that planned for Singapore's first casino development along Marina Bay near Singapore's commercial heart.

Tourism potential

In May, Las Vegas Sands won the government nod for its proposal aimed at strengthening Singapore's position as a top meeting and conventions destination.

Sands beat Genting International along with favourites and US rivals MGM Mirage and Harrah's Entertainment.

Analysts say Genting's chances are much better this time, with its plans ( right ) for the 49-hectare site on Sentosa, a tourist destination that already has hotels, golf courses, an aquarium and marina.

The Singapore Tourism Board will judge the bids largely according to their tourism appeal, and analysts say Universal's name will work in Genting's favour.

"On the street everyone recognizes Universal, so that is why Genting is the front runner. Its theme ties in with the theme of Sentosa which is to attract families," said an analyst from a local brokerage who declined to be named.

Sean Monaghan of Merrill Lynch agreed that "Genting, with its Universal theme park component, offers a clearly branded tourism strategy."

At the same time, he said the company's Malaysian origins could weaken the bid, given tensions between the Malaysian and Singapore governments.

"We assume that there could be an anti-Malaysia campaign within various circles pushing for any other syndicate to win," Monaghan said.

Merrill Lynch's assessment gave the Genting-Star Cruises bid the highest mark of 88 percent, against Kerzner and CapitaLand with 79 percent, and Eighth Wonder's 72 percent.

The ranking is based on the tourism board's four criteria for judging: tourism appeal, architectural design, level of investment and strength of the bidders.

Futuristic design

OCBC Investment Research analyst Winston Liew said the Malaysian group also edged out Kerzner-CapitaLand on his analysis, while Steven Tan of CIMB-GK Research said Genting "stands the best chance of succeeding".

Each contender has incorporated a marine theme into its plans.

Along with its showpiece Universal park, Genting said it would build the world's largest oceanarium complete with a water park, maritime museum and six hotels offering more than 1,800 rooms.

Kerzner has introduced a futuristic design ( left ) for its project, depicting the legendary city of Atlantis in the year 3000, including 1,800 hotel rooms, the world's biggest man-made coral reef, as well as live fish and robotic sea creatures.

The company proceeded with its bid despite the October death of chief executive officer Butch Kerzner, 42, in a Dominican Republic helicopter crash.

Eighth Wonder plans a cultivated coral reef as one of the attractions at its proposed "Harry's Island" resort, based on a fictional explorer. The company also announced a diverse mix of tie-ups including football legend Pele, star chef Alain Ducasse, Indian spiritual guru Deepak Chopra, and designer Vera Wang.

"Syndicates that form an amalgam of eclectic entities can often have trouble establishing a shared vision, and importantly, holding the vision," Monaghan said.