Harrah's seeks Crown's Macau casinos stake
1 Feb 2010
AUSTRALIA AND MACAO -- Harrah's Entertainment "acutely interested" in purchasing Crown's $US600 million stake in Melco Crown, according to a report in Business Day.
A Sterne Agee gambling analyst cited 'contacts in Macau' as the source of his information, according to Business Day.
Melco Crown owns both City of Dreams and Altira Macau casinos, while new operators are essentially shut out in Macau because the government is unlikely to issue any further licenses, the Business Day report said.
Shares in Melco Crown rose after the analyst report was published, but Crown refused to comment on the rumour, Business Day reported.