In an interview with The Standard, Chow said that construction on the HK$1.2 billion first phase of his Macau Fisherman's Wharf joint venture with Ho should be complete by July.

This phase, which is being constructed between the Hong Kong ferry terminal and the Sands Macau casinos, encompasses an artificial volcano, an exhibition hall, an amphitheater and a hodgepodge of buildings designed to invoke ancient China, Venice, Amsterdam, Cape Town and other cities, and contain restaurants and shops to match. The venture will now be looking for operators to lease these eateries and boutiques, with the hope that three-fourths of the project can be opened simultaneously later this year, Chow said.

In the meantime, Chow said he and Ho have asked the government for permission to add a HK$1.1 billion second phase to the end of the first phase.

The extension would include three hotels, a disco, a marina, an exposition center and new executive offices for his company, Legend Development. One hotel would go in a building styled to resemble those in The Rocks, the oldest district of Sydney. Another would approximate a Mississippi riverboat. The third and largest would have the theme of Istanbul and include a large spa.

All three would be managed by Fisherman's Wharf or related companies. Ownership of Fisherman's Wharf is split between Chow and Ho on a 49-51 percent basis. Current plans for Fisherman's Wharf do not include a casino, Chow said.

The Pharaoh's Palace casino that Chow opened two years ago in the Landmark building as the city's first theme casino is generating twice as much revenue from its 60 tables as originally forecast, he said. The Landmark, Chow's flagship project, also contains offices, a hotel and the Legend Club VIP gaming room. Ho's Sociedade de Jogos de Macau operates the Pharaoh's Palace and Legend Club and Ho holds a 35 percent stake in the complex.

Chow said he expects revenues for the Landmark to grow 15 percent this year. He said he plans to distribute Landmark shares to employees this year for a public stock offering next year.

Chow is working on plans to rebuild the Estoril Hotel and to set up a slot-machine factory in the new Zhuhai-Macau Cross-Border Industrial Zone.

Chow said he has started to develop projects outside Macau.

The first will be a 2.2 billion yuan (HK$2.1 billion) luxury hotel, to be called the Legend, that is to open in Beijing before the 2008 Olympics near the Grand Hyatt and Li Ka-shing's Oriental Plaza development, Chow said.

The next project would be a tourism and gambling venture in Cape Verde, a former Portuguese colony off the west coast of Africa for which Chow serves as honorary consul. zach.coleman@globalchina.com