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Billionaire Stanley Ho opens new casino in booming Macau

12 February 2007

MACAU -- As reported by the Associated Press: "Thousands of gamblers jammed into a new casino Sunday owned by a local billionaire who's trying to fend off an invasion by Las Vegas tycoons who have been gobbling up market share in the booming Chinese territory of Macau.

"Many of the punters who crowded into the Grand Lisboa - shaped like a huge lotus flower covered in blinking lights - were big-betting mainland Chinese who helped push Macau past the Las Vegas Strip last year as the world's gaming center.

"The five-floor casino is owned by Hong Kong billionaire Stanley Ho, who held a monopoly on gaming in Macau for four decades until 2002.

"...Before he opened the $384 million Grand Lisboa on Sunday, the 85-year-old Ho acknowledged that his market share slipped to 63 percent last year..."

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