Packer unveils new casino in Macau (Credit: The Daily Telegraph, May 13, 2007)

Who's a pretty boy then? ... James Packer opens Melco-PBL's $700m Crown Macau casino hotel - with 216 hotel rooms, 220 gaming tables and 500 slot machines, it's billed as the first 'six-star' casino in Macau.

JAMES PACKER unveiled his latest $700 million casino hotel at a lavish party for 1700 guests in the Chinese gambling mecca of Macau.

Crown Macau, the newest foreign addition to Macau's thriving gambling industry cost $US583 million ($706.88 million) to build, and features a 36-storey tower with 216 hotel rooms, 220 gaming tables and 500 slot machines.

The megalithic 'six-star' casino was bankrolled by Melco PBL, a joint venture between PBL, which Mr Packer has controlled since the death of his father Kerry Packer in December 2005, and Hong Kong-listed Melco is run by Lawrence Ho, the son of Macau gaming magnate Stanley Ho.

It is the latest casino hotel to take advantage of relaxed gaming regulations on the island of Macau, which has a population of about 500,000.

Macau has recently outstripped Las Vegas to become the the gambling centre of the world.

The small former Portuguese colony's century-old gaming market was given a boost in 2001 when the removal of a 40-year gambling monopoly from tycoon Stanley Ho resulted in a flood of investment from American operators.

Las Vegas Sands billionaire Sheldon Adelson led the charge with the Sands Macau, opened in 2004, and his Venetian company has been busy building a huge gaming district that will eventually house some 20 casino-hotels.

Wynn Macau was the second US gaming venue and the first integrated casino and hotel resort to open.

The island's casinos pulled in $US7.2 billion ($8.73 billion)in revenue last year, outstripping the $US6.6 billion ($8 billion) reported in Las Vegas, to become the world's biggest casino draw.

Apart from Crown Macau, the Melco-PBL consortium is also planning a large integrated resort to be known as the 'City of Dreams', due to open in late 2008.

The joint venture had also acquired a site on the Macau Peninsula on which a third hotel and casino project will be developed for a 2009 opening.

Crown Macau Casino.

Crown Macau Officially Opened by James Packer

Australia’s richest man James Packer finally opened his long awaited cost over-run US$540 million Crown Macau Casino. After the official opening ceremony, he launched the gala party for his 1700 plus invited guest treating them to entertainment by performers such the internationally acclaimed Dragone Group. Of course, by tradition it was complemented with the usual spectacular fireworks display.

The 36-story six-star Crown Macau Casino & Hotel is the newest addition to Macau’s booming gambling industry. It cost US$583 million (original budget US$375) to build, and features a 216 hotel rooms, numerous restaurants, 220 table games and 500 slot machines.

Crown Macau is owned and controlled by Melco PBL, which is a joint venture between James Packer’s PBL and Hong Kong-listed Melco Entertainment which is run by Stanley Ho’s son, Lawrence Ho. (Credit: macaudailyblog.com)

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