Resorts World, a subsidiary of Malaysia's Genting International, is building an integrated casino resort on Sentosa, scheduled to open in 2010.

Ten banks participated in the syndicated loan, which has a tenure extending to 2015, the company said.

It will fund two-thirds of the project's total cost, with the remaining to be paid through equity raised from a rights issue last year by Genting, Resorts World said.

Resorts World said it obtained the credit facility in February 'despite a very difficult global credit environment'. The casino resort, spanning 49 hectares, will include South-east Asia's first and only Universal Studios theme park and the world's largest oceanarium, as well as six hotels offering a total 1,800 rooms.

Las Vegas Sands is building Singapore's other casino called Marina Bay Sands near the business district. -- AFP