| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 |
advertisement | |||
Monday September 25, 2:17 PMAiling Macau theme park may be sold off: report
Fisherman's Wharf, a harbourside complex of rides and fair-ground oddities controlled by casino kingpin Stanley Ho, could be spun off as part of a package of properties including a casino and two hotels. According to a report in the South China Morning Post, sources suggested an initial public offering of the new company could go ahead before year's end. Fisherman's Wharf -- the first theme park in the tiny former Portuguese enclave -- opened on New Year's Day with great fanfare. Built to resemble the architecture of the world's great cities, the park features a 40-metre-high man-made volcano attraction, a Roman amphitheatre as well as shops, bars and a convention hall. Its owners hoped it would benefit from the explosion in tourist arrivals since US investment revitalised the city's once ailing casino market. However, the park has failed to attract the 60,000 daily visitors developers had planned for, and its close proximity to the Sands Macau -- the world's largest casino -- has drawn away potential customers. It is one of a number of tourist attractions designed to prolong the current average length of visitor stay in Macau of less than two days, a level economists say would not sustain recent growth rates. Some 25 billion US dollars of investment has been committed to the southern Chinese city to build hotels and resorts to house the new influx. |
||||
|
Copyright © 2005 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.
|