Rio Casino boss buys MOP950 mln property in Australia

The chairman of Rio Hotel & Casino, Loi Keong Kuong, is buying the headquarters of the world’s largest oil and gas company – ExxonMobil in Melbourne, Australia – for AU$160 million (MOP952.5 million/US$119 million), according to the Australian Financial Review.
The report says that Mr. Loi has emerged as the final buyer of the waterside office tower located in the Southbank area of the Australian city. Occupying 22,000 square metres, the office building is one of the most expensive assets in the area, according to the outlet.
It is claimed that the deal was negotiated on the buyer’s side by Hong Kong-based real estate agent Isabella Tse who heads up property investment firm Reliance Future.
Currently, the building is primarily used by the energy giant, which is expected to maintain a short-term lease on the property as part of the agreement with the local businessman, the news outlet adds.
The global energy giant was reportedly planning to sell the property in June, while real estate firm Jones Lang LaSalle was appointed to find a buyer for the company.
Rio Hotel & Casino, located on the Macau Peninsula, runs its gaming business under the gaming concession of Galaxy Entertainment Group.