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Macau Casino Lending Pushed to $3.8 Billion

2 December 2005

MACAU – As reported by Bloomberg: "Las Vegas Sands Corp., owner of the Venetian casino in Las Vegas, led this week's borrowers in Asia as its loan to expand in Macau boosts the Chinese city's gaming industry financing to $3.8 billion.

"Las Vegas Sands is seeking $2.5 billion to help pay for a hotel and casino resort in the territory, the company said. MGM Mirage, another Las Vegas casino company, has said it's borrowing $600 million and Wynn Resorts Ltd. earlier this year signed $764 million of loans to build in Macau.

"The amount of Macau gaming financing is almost a quarter of this year's total syndicated loan volume for Hong Kong companies, the region's fourth-largest loan market after Japan, Australia and South Korea. Las Vegas casino operators are expanding in Macau to tap gaming revenue that grew to $5.1 billion last year, just below the $5.33 billion generated by the Las Vegas Strip…"

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