Stanley Ho’s Son, Arnaldo, Moves to Revive Dormant Cotai Entertainment Complex Undertaking

Arnaldo Ho and Macau Theme Park and Resort Proceed with the construction of an Amusement resort with No theme park featured in Initial plans

Arnaldo Ho, son of Macau casino mogul Stanley Ho, declared earlier now plans to reestablish an amusement and hospitality job which has remained dormant for eight years, as city governments have proceeded to seize vacant land, Reuters reports.

Macau Theme Park and Resort Ltd., the real estate developer headed by Mr. Ho, now announced they intend to develop an 820-room hotel and leisure conveniences on a portion of land situated on the Cotai Strip, understood to function as Macau equivalent of the legendary Las Vegas Strip. The resort will price HK$5 billion (roughly $638 million) and will open doorways in 2020.

The project was first introduced in 2010 by Mr. Ho’s mother, Angela Leong, but little improvement has been made toward its materialization since that time. The original plan included five resorts with themes such as popular character Hello Kitty, an equestrian center, conference facilities, an indoor shore, and several different amenities. Under this first plan, the resort would also have featured a theme park.

However, it was namely the theme park section of the scheme that delayed the start of development work. The developer applied back in 2010 for a permission to put in a theme park to the hotel ’s centers , but hasn’t been granted the required legislative consent to do that.

Why Now?

It is thought that Macau Theme Park and Resort’s decision to go with the building of the house has to do with a 2013 law which aimed to prevent developers from purchasing land to gain from value climbs without conducting any development activities on it. Under the law, local governments have begun seizing vacant land round the favorite gambling hub. According to Reuters, as many as 100 plots are captured over the past year.

Mr. Ho said now they are moving forward with the project minus the theme area, but also pointed out that they “continue to speak with the authorities and hope it can give [them] the opportunity to develop a brand new Macau theme park.

The brand new hotel and entertainment resort is going to be named Lisboeta and will probably be found on a portion of land not far from where SJM Holdings, the gaming and hospitality company owned by casino mogul Stanley Ho, is building the $4.6-billion Lisboa Palace.

Arnaldo Ho stated now that Lisboeta is going to have a more nostalgic feel. The property will probably recreate the Macau Palace floating casino which was showcased on the 1974 James Bond classic The Man with the Golden Gun and will comprise numerous different attractions.

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