Melco International Development may raise its proposed investment for its bid to develop a casino-resort in Singapore. Melco group managing director Lawrence Ho Yau-lung yesterday said its joint venture with Australia's Publishing & Broadcasting Ltd (PBL) could boost its investment war chest from its initial S$2.5 billion ($11.4 billion) to counter potential threats from US rivals. But he warned the company might still not be able to match its competitors who could spend between US$3 billion and US$4 billion. The Singapore government opened the second-round tender for its two casino licences on Tuesday, attracting eight potential bidders including several US-led consortiums involving gaming giants such as MGM Mirage, Las Vegas Sands and Harrah's Entertainment. Asia-based candidates, which need to submit their proposals by the end of March, include the PBL-Melco partnership and the Genting Group. The two Singapore gambling licences are due to be awarded by the middle of next year. Mr Ho also said the PBL-Melco partnership was planning two more Mocha Slot venues - the cafe-themed slot machine gambling centres - both of which will be bigger than Mocha Sintra, the fifth Mocha Slot club launched by the joint venture that opened yesterday. Typically, a Mocha site such as Mocha Sintra, which has 135 of the latest electronic table games and slot machines, requires an investment of between $30 million and $40 million. Although Mocha Slots have been facing stiff competition from rivals, Mr Ho said the daily average win-take per machine was up to $2,000 in the fourth quarter, up from the $800 for the same period a year ago. The partnership now runs about 800 machines, with 25 per cent share of the Mocha market in Macau. The PBL-Melco partnership plans to spend about $10 billion on current and future gaming projects in Asia. This includes Mocha Slots, the $8 billion City of Dreams hotel-and-casino project and a potential investment in the Singapore gambling-resort project. The joint venture - financed by 65 per cent debt and 35 per cent equity - is understood to be worth $10 billion. However, with interest rate increases and capital expenditure expected to peak in 2007, the partnership was not likely to launch its debt financing programme until next year, Mr Ho said. As for a possible listing of Sociedade de Jogos de Macau (SJM) - the company that holds gambling magnate Stanley Ho Hung-sun's Macau interests - Stanley Ho yesterday said he was seeking advice from financial experts. 'We have not fixed a timetable on that yet. But once I've made up my mind, an application for a Hong Kong listing would be filed to the Macau government and the Hong Kong stock exchange,' he said. STDM, the flagship controlled by Stanley Ho, owns 80 per cent of SJM one of the three gambling concessionaires in Macau. Of the 20 per cent in SJM, Stanley Ho holds 10 per cent and is the largest single shareholder.