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Melco Crown to open US$3.2b Macau casino amid slump
Published Thu, Aug 6, 2015 · 09:50 PM
Hong Kong
MELCO Crown Entertainment Ltd plans to open a US$3.2 billion casino in Macau on Oct 27, joining in a competition to lure Chinese tourists amid an industry downturn that has seen high rollers vanishing.
Melco, controlled by billionaires Lawrence Ho and James Packer, and other Macau gambling houses, are spending US$27 billion to build new resorts and tourist attractions to woo holidaymakers as China's slowing economy and graft crackdown keep high rollers at bay. That has led to a 14-month downturn.
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