City of Dreams in Macau Borrows $1 Billion

Hong Kong-based Melco International will borrow over $1 billion to finance the new casino resort in Macau. The new casino-resort, called City of Dreams, features 2,000 hotel rooms and an underwater gambling casino. The facility is being built on Macau's Cotai strip.

The key lenders in the deal are the Australia and New Zealand Banking Group, Bank of America Securities Asia, Barclays Capital and Deutsche Bank.

Melco also said that it has entered a contract with US casino company Hard Rock International to build a hotel and casino in the City of Dreams resort complex.

Hard Rock will build a four-star, 350-room boutique hotel and casino. The casino will be operated by Melco under its gaming license. Other hotels in the City of Dreams resort include two hotels managed by Hyatt International and one managed under PBL's Crown brand.

Melco's other Macau projects include the Crown Macau, a 6-star casino hotel, and a chain of slot machine parlors called Mocha Slot Clubs.

October 17, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com    Previous Page | Internet Gambling | Top Online Casinos | Submit News!

Vegas Firm Partners with Banyan Tree on Sentosa Project
Kerzner International Preserves Bid For Casino-Resort
Atlantic City Casinos Announce September Earnings
Legalized Casino Gambling on the Ballot in Ohio
Illinois Posts Record Tax Revenues from Legalized Gambling