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GREEK MYTHOLOGY (MACAU) ENTERTAINMENT GROUP LIMITED
Plans to submit development concept for integrated resort project in Singapore
Phase 2 extension in Macau targeted to complete before CNY
Macau, January 13, 2005 - Macau gaming and entertainment group Greek Mythology (Macau) Entertainment Group Limited today announces its intention to submit a proposal to the Government of Singapore in response to its call for potential investments in an integrated resort project with casino gaming.
The proposal will outline the company・s preliminary development concepts for the project which will include a casino, hotels, convention halls, shopping malls and other leisure facilities, with total investments estimated at around HK$5-6 billion.
Mr Ng Man Sun, President, Greek Mythology Casino, said: ：We intend to invite the participation of A-Max Holdings Limited and other strategic partners, in particular those with expertise in hotel and convention facilities management. The submission of interest in the Singaporean project is our first step to tap into Asia・s gaming and entertainment industry which is valued at about US$14 billion a year.；
While the casino will be one of the major attractions of the integrated resort project in Singapore, the entire project will be a recreational and business cluster. ：We believe that the project will play a key role in driving sustained economic growth in the city. The Singapore Government estimates that a 15,000-sq-m casino could create more than 13,000 to 20,000 jobs,； explained Mr Chan.
The company・s newly opened Greek Mythology Casino has been recording an average daily traffic of about 30,000 visitors, including some 200-300 tour groups, since its inception. In anticipation of increasing number of visitors, the second phase of the casino, with an extra space of 140,000 sq ft, is targeted to open doors before the Chinese New Year. When the second phase is operational in about a month, the total number of gaming tables at Greek Mythology will increase to 500, plus the addition of six VIP rooms and 100 slotting machines to be installed in the new phase. The VIP rooms are open exclusively to members only.
New recreational facilities will also be unveiled in the extended hall. In view of the strong demand for children・s and care services, the company will expand and relocate the existing 3,000-sq-ft children・s centre to the top floor with a space of 30,000 sq ft. I
n 2005, Macau・s casinos are projected to generate an aggregate income of US$5 billion. Sociedade de Jogos de Macao, S.A. accounted for more than 80% of total gaming revenues in Macau with the remaining contributed by Sands, Galaxy and other major casinos. Visitor arrivals rose 44% period-on-period in the first ten months of this year, pointing to sustained strong momentum for the gaming industry in Macau.
On November 30, 2004, Greek Mythology (Macau) entered into an agreement with Hong Kong listed A-Max Holdings Limited (SEHK: 959) pursuant to which A-Max will become one of the major shareholders with a maximum equity interest of approximately 14% in Greek Mythology (Macau). Greek Mythology Casino operates under a concession arrangement with Sociedade de Jogos de Macao, S. A.
Issued by :
Greek Mythology (Macau) Entertainment Group Limited
Through :
t6.communications limited
Jenny Lee / Angus Ho
tel: 2511 8388 / fax: 2511 8238
email: enquiry-at-t6pr.com (use "@" to replace "-at-")
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