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HONG KONG, Feb 14 (AFP) - A decommissioned Ukrainian aircraft carrier is to be refitted in China and used as a floating casino and hotel in Macau, a report said Thursday.

The unarmed ship, Varyag, is expected to reach the northeastern Chinese port of Dalian in late February to undergo a refit before being towed to Macau and turned into a floating casino and hotel, the China-owned Hong Kong Commerical Daily said.

In October, Turkey allowed the decommissioned aircraft carrier to sail through its congested waterway after China pledged to minimize potential risks and offered guarantees that it would compensate Ankara for any possible damages.

Varyag had been anchored in the Black Sea for months awaiting the go-ahead from Turkey to pass through the Bosphorus and Dardanelles straits.

Turkey has used the Varyag case to alert the international community to the dangers of increasing marine traffic through the Bosphorus Strait -- traditionally the frontier between Europe and Asia.

A Macau-based company bought the 306-meter (1,000 foot) vessel from Ukraine and is planning to convert the aircraft carrier into a floating hotel and casino.

The Macau government opened up its multi-billion-dollar casino industry last week by awarding licenses to Las Vegas billionaires Steve Wynn and Sheldon Adelson.

The move ended gambling tycoon Stanley Ho's 40-year monopoly. Ho was awarded a third licence. 

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