| HONG KONG
HONG KONG Oct 10 Chinese conglomerate Fosun
International Ltd is teaming up with South African
hotelier and casino king Sol Kerzner's company to build a $1.5
billion resort on China's holiday island Hainan, a Kerzner
official told Reuters.
The 62-hectare property, which will feature a water park and
luxury 1,300 room hotel, will be located in Hainan's southern
coastal city Sanya, which authorities are trying to position as
an international tourism destination.
Long touted as a place where China could liberalise casino
gambling, the balmy island off the country's south coast has
attracted scores of international developers in the past two
years, including InterContinental, Starwood, and
casino operators MGM Resorts and Caesars Entertainment
Kerzner, which operates the Atlantis casino resort in the
Bahamas and Atlantis hotel on Dubai's artificial Palm Island,
says the resort in Sanya will not include a casino. Casino
gambling is illegal in China outside of the former Portuguese
colony Macau, which is an hour's flight from Hainan by plane.