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Property mogul Wang Jianlin’s Wanda Group to invest US$11.7b in world-class tourism project in rust-belt city of Shenyang

Wanda Group, the profligate Chinese conglomerate that is halfway through a massive debt-shedding exercise, has unveiled one of the largest ever investments in the northeastern Chinese city of Shenyang totalling 80 billion yuan (US$11.7 billion).The property-to-entertainment conglomerate controlled by tycoon Wang Jianlin said on Wednesday that the new investment will go towards building a “world-class” cultural tourism project, an international hospital, an international school and five Wanda… Source link

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Wynn Resorts fined US$20 million over sex allegations against casino mogul Steve Wynn

Wynn Resorts was fined US$20 million by Nevada gaming regulators over its failure to investigate and act upon sexual-misconduct allegations by employees against former Chief Executive Officer Steve Wynn.The fine was proposed by Nevada Gaming Commission Chairman Tony Alamo at a hearing Tuesday and confirmed by a 4-0 vote.Last month, the company reached a settlement with the state, but the amount of the fine wasn’t specified.While Alamo said the fine will be “record setting,” he didn’t want it to… Source link

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