Bankers lined up to arrange loans for Macau casino deal_Companies—China Economic Net
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Bankers lined up to arrange loans for Macau casino deal
Last Updated(Beijing Time):2007-06-04 14:29

Macao Studio City is being built next to the Lotus Bridge, which will link Macau and the mainland city of Zhuhai. It will include a film studio, a million-square-foot shopping mall and gaming and convention facilities.

CapitaLand Ltd, Singapore's biggest property developer, said in January it would pay US$84.4 million for a 20 percent stake in Macao Studio City.

New Cotai Development Ltd, a venture between Silver Point Capital LLC and former Las Vegas Sands executive David Friedman, earlier this year paid ESun HK$2.97 billion (US$380 million) for 40 percent of the venture under the name Cyber One Agents Ltd.

Lai Fung Holdings Ltd, a developer of real estate in China, pulled out of the venture in August after the Macau government rejected the previous plan because it included residential apartments.

Macau's gambling revenue started to surge in 2004, when Sheldon Adelson's Las Vegas Sands and Galaxy Casino SA opened resorts there, ending the four-decade monopoly of billionaire Stanley Ho.

Source:Shanghai Daily 
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