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Ho Planned Venture to Dwarf Others

9 December 2004

MACAU – As reported by the Hong Kong Standard: "Amid talk of lotus-shaped hotel towers, volcanic fountains and gods moving from Mount Olympus to other Macau casino projects, gambling heiress Pansy Ho has stayed nearly mum about her planned joint venture with American gaming giant MGM Mirage.

"The latest tidbit: it is going to be huge.

"In a recent presentation to business people, Shun Tak Holdings, the Hong Kong-listed company headed by Ho, indicated that the MGM Grand Macau will have 61,000 square metres of gaming space, according to Glenn McCartney, a lecturer at the Institute for Tourism Studies.

"That is 20 per cent larger than the gaming area planned for the US$1.8 billion (HK$14.04 billion) Venetian Macau, the grandest project yet announced in the SAR.

"MGM and Ho, daughter of Stanley Ho, are still seeking regulatory approval in the United States and Macau for their venture and have not announced a budget for the casino, which is slated to go up behind the one being built by Wynn Resorts…"

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