Publishing & Broadcasting Ltd. and Melco International Development are planning to raise $1 billon in an IPO, by selling 20 per cent of its Macau casino development according to a report by the Australian Financial Review. James Packer’s company plans to use the funds to expand its Macau casino hotel and other gambling developments.

Macau’s CoTai strip is dubbed as Asia’s Las Vegas and is undergoing feverish development from all top casino, hotel and gambling operators around the world. Already in Macau are Wynn and Sands casinos in the USA. Macau is viewed as a gateway to lucrative gambling market of nearby China.

This entry was posted on Wednesday, May 24th, 2006 at 9:53 pm and is filed under China Gambling, Gambling Industry News, Land-based Casino. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.