Fashion Empire Versace Enters Macau Gambling Industry

One doesn’t typically associate the name Versace with casino gambling, but the fashion house has announced its plans to build a luxury hotel at a casino resort in the Asian gambling Mecca of Macau.

In a joint statement with local casinos operator SJM Holdings Ltd, Versace said the five-star Palazzo Versace hotel will be part of a resort SJM is building in the former Portuguese colony's Las Vegas-style Cotai strip.

SJM Holding Ltd. is owned by the family of Macau’s original gambling tycoon, Stanley Ho. 

The property, which is not expected to open before 2015, will have 700 gaming tables and 2000 hotel rooms.  Financial details were not immediately available. 

- Aaron Goldstein, Gambling911.com