No partner, location named yet
Mega Stars has announced that it may develop a hotel casino in the Marianas Island in Micronesia. And it could bring in one of six Macau concessionaires to help run the place.
Marianas Variety reports that the name of the company in question, described as a Nasdaq-traded public entity, was redacted in published accounts of a Hong Kong regulatory filing by Chinese Strategic Holdings. But Mega Stars said it has been “in active negotiations on the key structural framework of the possible engagement.”
The potential partner is likely one of six casino concessionaires and sub-concessionaires in Macau: SJM, Galaxy Entertainment, Wynn Resorts, Las Vegas Sands Corp., Melco Crown Entertainment and MGM Resorts. Tinian Realty International Co. has been in negotiations with the Nasdaq-listed company, Variety reported.
The deal could possibly involve assistance in the application for a gaming license and advice on regulatory matters.
Mega Stars said there is no “legally binding agreement” yet, but added, “The Nasdaq company stated that if TRI and/or its preferred agent assumes or secures any interest in the complex, the Nasdaq company is interested to operate and manage such hotels and resorts as well as the casino and gaming facilities.”
Tinian has not been identified as the location of the proposed complex, but last year Mega Stars said it was interested in building an integrated resort at a Puntan Kastiyu on Tinian and developing a world-class facility on that 482-hectare (1,191-acre) site.
The plan would include two world-class golf courses, up to 30 luxury villas, a luxury hotel with up to 400 rooms, a retail / dining village, and “an agricultural cultivation zone which will provide quality food for the hotels on the island.”
The only casino currently operating in the Northern Marianas is the Dynasty. It opened in 1998 and has 412 guest rooms including 40 executive suites and two presidential suites, Variety reported.
