Cotai boutique casino gains steam

Port and infrastructure group PYI Corp Ltd (498:HK) have reiterated their confidence in getting official approval for their boutique casino in Cotai. Tom Lau Ko Yuen, PYI’s chairman and managing director, said he is hopeful about getting the Macau government’s ‘go-ahead’ for the project, adding that the risk was “at an acceptable level”, Macau’s Business Daily reported. The casino property is planned to be located next door to the residential complex One Oasis, and will have 236 rooms and up to 66 live gaming tables. Paul Y. Engineering Group Ltd, a unit of PYI Corp, plans to raise funds for the USD $800 million project by issuing shares on the Hong Kong Stock Exchange and by selling convertible bonds.