Australian Tabcorp Holdings is as they failed to reach a deal no longer talking with with Richard Branson’s Virgin Group on plans to develop a US$3 billion casino in Macau.
It is still understood that Virgin is still talking to other potential partners on plans to build and run a casino and resort development in Macau.
Another source said Virgin was still talking to a number of other potential partners on the development in Macau, which is already home to a large gambling industry.
Sources had said last month that Virgin and Tabcorp were in talks on the casino project. Tabcorp had expected to play a major role in developing and operating the project, which would have retained the Virgin brand.
Tabcorp owns four of Australia’s 13 casinos and is looking for growth opportunities after its former takeover target, UNiTAB, merged with Australian lottery operator Tattersall’s Ltd.
