Hard Rock Group is gearing up to expand its business in the Asia Pacific region, with China seen as one of the key target markets, the Hong Kong Economic Journal reported Wednesday.
The company plans to set up 17 restaurants, 15 hotels and two casino resorts in the region in the next three to five years, Chief Executive Hamish Dodds was quoted as saying.
Shanghai, Shenzhen, Hangzhou, Wuhan and Dalian are among the cities that the group aims to have a presence in mainland China.
Meanwhile, the company is cooperating with Banyan Tree Group in a bid for a gaming license in Vietnam.
In the plans succeed, the Vietnam project will provide 60 to 80 gaming tables in the initial phase and will involve US$2 billion investment. Hard Rock will contribute US$100 million of the investment.
The group is also considering opportunities with Japanese companies to enter the gaming market once it is legalized in Japan.
Potential investments could be at least US$2.5 billion in aggregate.
Hard Rock, however, has no plans to partner with long-term ally Lawrence Ho Yau-lung’s Melco International Development (00200.HK), according to the report.
Casino resorts contributed over half of the international group’s revenue last year.
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