The Macao Post Daily reported that the center, located in the special administrative region's Cotai island, will combine theater, television, film productions and retail facilities with gaming, entertainment properties.

The project was developed by Cyber One Agents Ltd., a joint venture between Hong Kong-based eSun Holdings and Macao's New Cotai Ltd.

The project was divided into two phases, the first of which was slated to be completed in 2009, according to the newspaper.

Macao, with a population of 500,800 and a land size of 28 square km, is set to build its fame as Las Vegas in an Asian version.