PBL, Melco to Build Second Macau Casino

MACAU – As reported by the Sydney Morning Herald: "Kerry Packer's Publishing & Broadcasting Limited and its Asian gambling partner, Stanley Ho's Melco International Development, plan to build a second casino in Macau believed to worth more than $HK8 billion (US$1.03 billion).

"The PBL/Melco partnership yesterday announced it had paid $214 million for a 113,325 square metre chunk of land on Macau's Cotai Strip, more than twice the size of Melboune's Crown Casino.

"With an underwater casino 'showcasing tropical marine life', 450 gambling tables, 3000 poker machines, three hotels, two blocks of apartments, and a theatre, the proposed development also dwarfs the partnership's other project in Macau, the Park Hyatt Hotel and Casino.

"…The casino construction is to begin in the 'latter part' of the year with the complex due to open in the middle of 2008…"

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