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Packer in Talks for High-Roller Macau Casino

28 July 2004

MACAU – As reported by the Australian: "Kerry Packer's Publishing & Broadcasting Ltd is in talks to win a management contract at one of Macau's new Las Vegas-style casinos as it seeks to become one of the world's biggest operators of high-roller gaming businesses.

"PBL, which owns Melbourne's Crown Casino and last week announced a joint venture with the Betfair betting exchange, is considered a prime partner because of Crown's credibility among big-spending Asian gamblers.

"…PBL also looks set to win its $580 million bid for Perth's Burswood Casino after its board recommended the deal on Friday. If it gains control of Burswood, PBL is expected to increase the betting limits for high-rollers.

"PBL would then jointly operate the Crown, Burswood and Macau high-roller businesses, enabling it to spread the cost of entertaining high-rollers across a single client list.

"Crown is believed to spend at least $50 million a year entertaining high-rollers, while the cost to Burswood is estimated at $10 million to $15 million.

"…PBL's Asian reputation is expected to appeal to US casino mogul Steve Wynn, who has announced plans for a $US705 million Las Vegas-style resort called Wynn Macau…"

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