Virgin partner out of casino talks

Tabcorp Holding’s, the Australian gambling firm said to be in talks with Richard Branson’s Virgin Group regarding the possibility of a joint casino venture in Macau, have announced today that talks have come to an end.

Richard Branson and Tabcorp chief executive Matthew Slatter visited Macau last month to look at potential sites for a possible casino development with Tabcorp set to play a critical role in any potential partnership.

Tabcorp Holdings owns four out of the 13 casinos currently in Australia and was eager to take advantage of the booming casino industry in Macau.

However, despite no resolution being gained from the talks, it is understood that Virgin are still looking for other partners to join them in their bid to develop and run a casino resort in Macau.

"Virgin are obviously moving forward and still talking to partners," one source said.

Macau continues to attract interest and investment alike and shows no signs of slowing down. Analysts predict that by 2010 its revenue could reach $14 billion.

Editor, - 2007-02-19 11:12:50

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