World’s largest casino operator, Harrah’s, buys golf club in Macau

14 September 2007

Macau, China, 14 Sept – Harrah’s Entertainment, the world’s largest casino operator by revenue, has acquired the Oriente Golf Course in Macau where it plan to develop an entertainment project, the South China Morning Post reported Thursday.

According to the newspaper, which is published in Hong Kong, if the development of the plot is authorized for the hotel and entertainment industry, the price of the plot could increase to between 21 and 30 billion Hong Kong dollars.

The estimated prices are based on deals done in the landfill area of Cotai, where the golf course is located, where gaming and hotel projects are currently underway, including the recently opened Venetian, which houses the world’s largest casino.

With an area of some 710,000 square meters, the plot of land, which is the second-largest in the whole of Cotai, is located next to the projects being developed by Las Vegas Sands, which owns The Venetian, and in which several hotels, retail and entertainment areas are being built as well as Macau Studio City.

In order to operate a casino in Macau, Harrah’s will have to reach an agreement with one of the operators in the market as the government has no plans to grant additional gaming and gambling licenses.

This would be Harrah’s first property in Asia after failing to net one of the gaming licenses granted by the Macau government in 2006. (macauhub)