SYDNEY: Publishing and Broadcasting Ltd, an Australia-based media and gaming company, has paid US-based Wynn Resorts Ltd US$900mil for the right to own and operate hotel casino resorts in Macau, pushing PBL shares up 1.6%.
The Packer family-owned, which is expanding its gaming business through Asia with joint venture partner Melco International Development Ltd, said the deal would give it more flexibility to operate the two casinos it planned to build in the former Portuguese colony, sending its shares to a more than one-year high.
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