LAS VEGAS— Strip developer Steve Wynn has joined a wealthy group of investors— including Venetian developer Sheldon Adelson and businessman Stanley Ho— which have recently been given preliminary approval to build three Las Vegas-style casinos near the southeastern tip of mainland China. The three competing developers received government approval on Feb. 8 to move ahead with plans for individual casinos to be built on Macau in the South China Sea. Wynn, Adelson, and Ho— who operate separate, stand-alone casino companies— had, at least for now, beaten out 18 proposals, including ones by multi-property giants MGM Mirage, and a joint effort of Park Place Entertainment and Mandalay Resort Group. Now the three investors must meet separately with Macau officials to discuss plans to build what could become three $500 million casinos. If the Ho, Wynn or Adelson groups fail to strike final deals with the mainland China-controlled government, the Mandalay-Park Place team would make its pitch, followed by the MGM Mirage team. SOURCE: Las Vegas Review-Journal
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