What are dreams made of? You’ll have to wait till next year to find out! Melco PBL Entertainment is developing a project titled the City of Dreams in the heart of Macau’s gaming industry. Macau has overtaken the U.S. in terms of casino gaming revenues generated and the Cotai Strip is where the action is. The Strip, which is built on reclaimed land, has seen millions of dollars being invested into erecting world class resorts and posh casinos.
But the City of Dreams holds promises of being a truly unique experience. The must-see casino and entertainment resort has adopted “water” as its theme. Aquariums and water shows are planned to go along with the theme. There would be 4 luxury hotels – Hard Rock Hotel, Grand Hyatt, Hyatt Regency, and Crown Towers. The project includes 550 gambling tables and 2,500 slot machines… and I can almost visualize them being busy all night long! Of course for its elite guests, the City of Dreams offers plush private gambling salons.
Huge investments have gone into building something this lavish. About a year-and-a-half back, Melco PBL borrowed more than US$1 billion from lenders such as the Australia and New Zealand Banking Group, Bank of America Securities Asia and Deutsche Bank. More than US$2 billion has already been invested into the development of the first phase of the project.
Melco PBL was formed in 2004 as a joint venture between Melco International Development and Australian Publishing and Broadcasting Limited. Melco PBL’s CEO Lawrence Ho Yau-lung, who is the son of Macau’s gaming tycoon Stanley Ho Hung-sun, expects the region’s gaming revenues to surge from $10.4 billion in 2007 to more than $12.5 billion this year. According to a report by Credit Suisse, Macau’s gaming industry is a relatively safe haven for investors, since more than 80% of the SAR’s income is generated by this industry, the China Daily said.
So, the City of Dreams is expected to attract hordes of tourists from across the globe with its elegant charm, sprawling casino, luxurious accommodation, electrifying bars and stylish restaurants. Any funding available to finance my trip to Macau next year?
* For series, references are published in the last installment of the series.
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