PBL may get Macau Casino Rights from Wynn Resorts

Wynn Resorts Ltd, one of the world's largest casino operators announced this week that it has agreed to sell rights to build a Macau casino resort to Australian media and entertainment group Publishing and Broadcasting Ltd. (PBL). If the Macau government agrees to this deal, Wynn will receive $900 million in exchange for the rights.

Even if the casino operator does sell rights to PBL, it will still be able to open other casinos in Macau. For Wynn, a fringed benefit of the deal would be that Harrah's Entertainment Inc, a competing casino operator, would then be unable to enter the Macau casino market without a partner.

PBL runs and operates the Crown Casino in Melbourne and the Burswood casino in Perth, Australia. If sold these casino rights, the company will share a 50% stake with Melco International Development Ltd, its partner for casino projects in Macau.

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