Stanley Ho has been speaking about his new projects in Macau and possible further expansion into Thailand and Singapore. He is also strengthening his family’s ties with mainland China. Although the gaming industry is not expected to develop on the mainland for a number of years, possibly as many as twenty or more, there is a plan to build a pedestrian tunnel from the Ponte 16 tourist development in Macau to Zhuhai in China.

The Ponte 16 project, which should open in 2006, will feature a colonial theme park, luxury hotel and a casino. It is estimated that it will cost around HK$1.2 billion. Over the next ten years more than 60.000 additional hotel rooms will be built in Macau, making it an Asian version of Las Vegas with luxury casino complexes.

Ho’s landmark Lisboa Casino Hotel is to have an HK$3 billion extension. The Sociedade de Jogos de Macau (SJM), one of Ho’s companies, has acquired a 49% stake in Zhen Hwa Harbour Construction, the local subsidiary of the state-owned China Harbour Engineering. Zen Hwa will be involved in the construction of the new extension Grand Lisboa, with a 44-storey tower resembling a lotus flower or a dancer’s feather crown. An 8-storey sphere-shaped podium containing a casino and restaurants should open in 2006.

There is also to be a mini theme park to be called the ‘East-West Cultural Village’ to take in 50 historical buildings in a former red-light district, and the redevelopment of a department store and adjacent commercial area into a luxury hotel, apartments, retail outlets and casino. The Park Hyatt Casino Hotel is a HK$1.5 billion project that will have 240 luxury guest rooms and two presidential suites in a 32-storey curved tower. The hotel’s lobby will be on the top floor and the casino should open in 2006. SJM holds a 30% stake in the development and the balance is held by a joint venture between Laurence Ho’s Melco International Development and Australia’s Publishing & Broadcasting Limited (PBL).

Laurence Ho, Stanley Ho’s son, has said that the joint venture company has already met with the Singapore authorities to speak about a casino project in that country. They are also interested in other gaming opportunities in Thailand and the Asia region. Melco would have a 60% interest in any future gaming ventures in Asia and PBL 40%. Outside Asia these percentages would be reversed.

Melco shares have gone up over 400% in the last three months, and were up a further 2.9% after these announcements at a groundbreaking ceremony for the Park Hyatt. PBL shares rose by 1.3%. The ceremony featured dragon dancers and fireworks exploding from a model casino display. The cost of the Park Hyatt venture is expected to be paid back within eighteen months to two years.

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