PBL, Melco Plan to Expand in Asia

MACAU – As reported by Reuters: "Australia's largest publishing and gaming firm, Publishing and Broadcast Ltd, and Hong Kong joint venture partner Melco signalled plans on Monday to expand in the gaming business in Asia, with possible casinos in Thailand and Singapore.

"'This is just the beginning. We are keen to grow our gaming business in the region,' said James Packer, executive chairman of PBL , at a ceremony for a joint-venture Park Hyatt hotel and casino in Macau.

"…The joint venture is PBL's first step into the Asia region, where gambling is becoming big business thanks to eased travel restrictions for millions of mainland Chinese tourists.

"…Lawrence Ho, group managing director of Melco and son of gaming mogul Stanley Ho, said that together the two companies were looking for further gaming opportunities in Thailand and Singapore as well as anywhere in the Asia region, political conditions permitting…"

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