Hong Kong gambling tycoon to open casino to rival Vegas

Wednesday, Nov. 24, 2004 | 9:23 a.m.

HONG KONG -- Gambling tycoon Stanley Ho will open a new casino in nearby Macau in an attempt to fend off competition from his Las Vegas rivals after he lost a four-decade monopoly in the gambling enclave.

The first phase of the Greek Mythology Casino at the New Century Hotel will open to gamblers on Dec. 23, the hotel's deputy general manager Michael Chan told the Associated Press by phone late today. The hotel is a subsidiary of Ho's Macau Gaming Co.

The first phase of the casino has 228 gambling tables and 160,000 square feet of space. Its second phase, which will double the number of tables and space, is scheduled to open by next February, Chan said.

The Macau government decided in 2002 to end the gambling monopoly held by Ho. In May, Las Vegas mogul Sheldon Adelson opened the doors of the first new competitor for Ho, the Sands Macau casino, while another Las Vegas operator Steve Wynn is setting up shop near Ho's flagship property the Lisboa casino-hotel. Wynn Macau is scheduled to open by the end of 2006.

Faced with growing competition from Adelson and Wynn, Ho is trying hard to keep up the fight by beefing up his casinos, including the Lisboa.

The Greek Mythology will feature massive statues of Greek gods and goddesses, including Poseidon and Zeus, as well as nightly Moulin Rouge-style dances, the South China Morning Post reported.