PARK PLACE, MANDALAY ENTER RACE TO MACAU

December 13, 2001 11:01 PM
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The corporate giants have placed an ante on gaming in Macau.

Las Vegas casino kingpins Park Place Entertainment and Mandalay Bay have joined the race for a gamingn license in the Chinese coastal city.

The two companies are among 21 contenders for three licenses in the former Portuguese colony.. Steve Wynn and Venetian owner Sheldon Adelson have also submitted offers for a license, according to a Las Vegas Sun report.

"Any operator that tries to bring high-end play from overseas to its Las Vegas properties would rationally be interested in a gaming license in this market," said Robin Farley, gaming analyst with UBS Warburg.