Report Genting HK to build Resorts World Macau

by **Cals** Tue 07 Jan 2014, 18:35

Report Genting HK to build Resorts World Macau

Business & Markets 2014

Written by Cindy Yeap of theedgemalaysia.com

Tuesday, 07 January 2014 14:57

KUALA LUMPUR (Jan 14): Genting Hong Kong Ltd’s wholly-owned unit has submitted plans to build a boutique hotel in Macau at a plot opposite billionaire Stanley Ho’s old Casino Lisboa.

“Resorts World Macau” is the working title for the project by Genting Hong Kong’s Treasure Island Entertainment Complex Ltd, Macau Business Daily reported today (January 7) quoting unnamed sources.

A construction plan submitted to the Macau government in August 2013 does not include any gaming facilities, the report quoted Yany Kwan, chairman of Treasure Island Entertainment as saying.

According to Kwan, the project at Praça de Ferreira do Amaral by Nam Van Lake will see a low-rise boutique hotel “providing hundreds of rooms”.

Kwan was speaking on the sidelines of a meeting to review investment bids for the Guangdong-Macau Cooperation Industrial Park on Hengqin Island near Macau.

Treasure Island Entertainment is also reportedly interested in building a theme park in Hengqin Island.

Quoting unnamed sources, the Macau Business Daily said the venue will also have “shopping facilities, venues for shows and even conventions and exhibitions” and the firm “did not rule out” the possibility of adding gaming to the planned project.

The most likely route for Genting to get a go-ahead for gaming in Macau before the end of the current gaming concessions in 2020 and 2022 will be via the so-called “service agreements” with one of the six existing concessionaires and sub-concessionaires, according to the report.