Singapore will announce this week the winner of the bid for its second casino license. The city-state decided to build two gambling resorts with family attractions in an attempt to attract more tourists and boost its economy.

In May, the American gaming giant Las Vegas Sands was granted a license to build Singapore’s first casino project, a waterfront resort in which the company will invest more than $3.2 billion.

Three groups have submitted proposals to build the second casino on Sentosa Island. A panel of seven Ministers will choose the best proposal, taking into account which one of them could lure more visitors from abroad. The bids are worth up to $3.5 billion.

According to experts, Genting Group is the favorite one because it has included in the project a theme park developed by Universal Studios. The resort is expected to operate as of 2010.