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Officials deny Macau sale talk

Wednesday, March 6, 2002 | 10:34 a.m.

Officials with Wynn Resorts denied rumors that the Las Vegas casino mogul planned to sell a stake in Wynn's Macau casino venture to a Malaysian casino company, Reuters News Service reported.

Shares of Genting, operator of Malaysia's only casino resort, rose Tuesday and today on the Kuala Lumpur exchange on speculation that it was negotiating with Wynn to acquire 30 percent of Wynn Resorts Macau. Wynn was awarded one of three gaming licenses by the Chinese city and former Portugese colony last month, and plans to invest at least $500 million in a casino resort there.

"The news that Wynn Resorts is negotiating to sell some of its shares is completely wrong," said Alexandre Correia da Silva, Wynn Resorts' legal representative in Macau, according to Reuters.

"The only thing that is true is that we are now studying and negotiating our (contract) with the (Macau) government," da Silva said.

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