The iconic floating casino of Macao Palace has been closed for repairs, according to a statement issued by the management Monday.

The statement released by local gaming tycoon Stanley Ho Hung Sun's SJM gaming company said the vessel will soon be sent to a port in the Chinese mainland for repairs.

The number of Macao's casinos dropped from 27 to 26 following the closure of the Macao Palace.

Seventeen of the 26 casinos are run by Ho's SJM, five by Hong Kong-based entertainment group Galaxy, two by Las Vegas-based gaming giant Venetian, one by the other Las Vegas shark Wynn and one by Australian publishing group PBL.

The number of casinos is expected to reach 29 by the end of 2007 in the city with a population of 528,000 and where some 15 percent of its total labor force are working in the gaming sector.

(Xinhua News Agency October 30, 2007)