Casino mogul Stanley Ho Hung-sun yesterday signed a $500 million syndicated loan agreement for a 'fisherman's wharf' theme park in Macau's Outer Harbour.
He said the loan, co-arranged by HSBC and Macau-based Banco Nacional Ultramarino (BNU) 'will also set an example in encouraging local banks to play a positive part in Macau's tourism industry'.
Mr Ho, who chairs Sociedade de Jogos de Macau/SJM (Macau Gaming Company), said he expected the wharf project to be completed early in 2004.
He said he envisaged it as a 'theme park for family tourists', adding the government's liberalisation of the gaming industry 'will bring boundless investment opportunities to Macau'. The government granted three casino concessions earlier this year.
A wharf spokesman said it would cost $950 million and include 'family-oriented and Latin-style entertainment facilities, restaurants, bars and souvenir shops, as well as a man-made volcano'.
The 106,000-square metre 'East-meets-West' theme park will be close to the jetfoil pier.
