Branson eyes $3 billion Macau casino

MACAU – As reported by Reuters: "Sir Richard Branson's Virgin Group (VA.UL) is close to securing a 20-hectare site in Macau to build a $3 billion casino complex which could add to the city's rise as the world's gambling capital, a newspaper reported on Friday.

"The flamboyant British entrepreneur whose business empire ranges from airlines to music and mobile phones, is close to acquiring the site in the Chinese special administrative region, the Financial Times reported.

"…Branson was quoted as saying the cost of development would be $3 billion, funded 'at least partially with a mix of Virgin equity and debt financing from international banks,' the paper reported. It added Branson would recoup his upfront costs within 18 months of opening…"

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