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Wynn says Macau may slow gambling development

14 October 2009

LAS VEGAS, Nevada -- As reported by Reuters: "Macau, the only city in China where gambling is legal, may be moving to slow development in the fast-growing casino center, according to gambling mogul Steve Wynn.

"The southern Chinese city's government met Monday with representatives of the six companies that operate its casinos, including Wynn Resorts Ltd.

"'I've got a feeling that the government's going to tamp it (Cotai) down,' Wynn, the company's founder and chief executive, said in an interview with Reuters. He was referring to the Cotai Strip, a swathe of reclaimed land some Macau developers have touted as the next Las Vegas Strip.

"'If they limit the amount of (gaming) tables there is no reason to build any more,' he said.

"Wynn said Chinese officials appear to be chiefly concerned with the potential consequences that overbuilding would have on workers in Macau. 'The government wants to keep everybody calm while they provide jobs and industrialize the country,' he said..."

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