MACAU / HONG KONG -- Market sources said that a secondary listing in Hong Kong might just be what casino magnate, Steve Wynn, needs to finally get his ambitious Cotai Strip project underway.

Wynn's company, which operates Wynn Macau in the former British colony, is aiming to raise about US$3 billion should a secondary listing prove feasible. UBS, Deutsche Bank and Morgan Stanley have been contracted to arrange the transaction according to market sources.

Further market sources believe that funds raised from the listing will be used to finance a resort on a 21.04 hectare waterfront land on the Cotai strip that the Macau government has tentatively reserved for Wynn. The location is between the Melco Crown Entertainment's City of Dreams project and the Macau International Airport.

While actual work has yet to get started, Mr. Wynn has expressed his plans for his Cotai resort on several occasions including plans to develop an all-suite luxury resort with 1,500 to 1,800 hotel rooms.

"We're in design development very intensely now on Cotai ... I'm not done yet," Mr. Wynn was quoted. "But I'm dying to finish the job and get it to where I'm ready to price it and break ground."