Potential Virgin partner ends Macau talks

2007-02-22 11:59:04

Tabcorp, the Australian firm in talks with Virgin regarding the construction of a possible casino in Macau, has pulled out of negotiations, it has been claimed.

Citing sources familiar with the situation, Reuters has reported that Tabcorp will not be pursuing the proposed $3 billion development any further.

Virgin, meanwhile, is thought to be talking to other potential partners regarding the scheme, though nothing has yet been finalised.

Potential stumbling blocks regarding any agreement that may have materialised from the two groups' discussions included the fact that neither partner held a gaming concession for Macau, meaning that any casino would have to be operated under the umbrella of a separate, possibly rival, firm.

"It's really difficult to see the competitive advantages in how Tabcorp is going to play that market," said Tony Waters, gaming analyst at CCZ Equities, as reported by PokerPages.com, in what turned out to be a highly prescient comment.



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