Macau Won't Grant More Licenses

MACAU – As reported by the Australian: "Macau Governor Edmund Ho has ruled out granting any more casino licences in the city - a move that protects the $3 billion investment of James Packer's PBL.

"The city would stick to six casino operators, he said, including Macau veteran Stanley Ho (no relation to the Governor), the veteran's daughter, Pansy Ho, who has linked up with US casino operator MGM, and Las Vegas players Steve Wynn and Sheldon Adelson.

"...

The opening of the 600-room hotel and casino was attended by PBL's executive chairman, Mr Packer, and Leighton Holdings chief executive Wal King.

"...PBL and Melco are about to deliver the final $US740 million ($970 million) of the $US900 million payment to Mr Wynn for their licence, which has to be paid by the end of this month..."

2006-09-07