SJM IPO

A $1 billion IPO planned by tycoon Stanley Ho’s Macau flagship gives investors a rare chance to bet on a casino boom that has been funded mostly by loans, and more public markets capital-raising is on the cards.
Given the billions required to finance a planned construction spree and the change in funding needs as a [...]

Macau tourism booming

The number of visitors to the tiny island of Macau rose by an impressive 23 per cent last year, putting the number at 27 million arrivals and the casino capital of the Far East on track to surpass Hong Kong this year.
Hong Kong received 28 million visits last year, a jump of 10 per cent.
Macau [...]

Macau unemployment under 3%

–Thank you casinos–
Macao saw its unemployment rate for the first 11 months of 2007 stand at 2.9 percent, 0.7 percentage point lower than the same period of 2006, according to the Employment Survey released on Friday by the Statistics and Census Service.
The survey showed that Macao’s total labor force was estimated at 320,000, while the [...]

NJ’s MGM probe continues

The efforts by MGM Mirage to open a casino halfway around the world have led to a review of whether there’s a conflict of interest within the New Jersey Division of Gaming Enforcement. For nearly three years, the division has been conducting an investigation into MGM’s partner in the Chinese enclave of Macau. The partner, [...]

Review of the Cotai Strip’s Venetian Macao

The Venetian Macao on Macau’s Cotai Strip outshines any competition in its trailblazing pace…as the largest most spectacular Integrated Resort in the world. My Turbojet dash across the South China Sea brought along exciting Chinese chatter and fervent debate on what’s really happening on the other side of the Pearl River delta. While [...]

New casinos add to booming gaming revenue

Macao’s casino industry will likely see record gross revenues of 83 billion patacas (10 billion U.S. dollars) in 2007, an increase of 46.5 percent over last year, The Macao Post Daily reported on Wednesday.
The casinos’ gross receipts were expected to reach 8.1 billion patacas (1.03 billion U.S. dollars) in December, the daily quoted a senior [...]

MGM and Dubai consider Macau joint venture

The US based entertainment firm MGM Mirage and Dubai World could make joint investments in Macau and the mainland, according to MGM’s Chairman and CEO Terry Lanni and cited by the Financial Times.
Lanni, who has just seen MGM open its first casino in Macau, said the projects would be ‘non-gaming’.
Dubai World secured a 4.8 per [...]

The Police concert at Venetian Macao

Stuff like this is great for The Venetian, Cotai Strip tourism, Macau, and most importantly, its tourists. They may be balding and grey, but they still rock…“The Venetian Macau Resort Hotel and Live Nation Global Touring have confirmed that The Police will perform at The Venetian Arena in Macao, on 7th February 2008.
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MGM Cotai plans

The incredible MGM Grand Macau has only been open for a few days and I’m already looking ahead to the opening of MGM’s Cotai Strip resort. Since that project hasnt even been approved by the government yet, I am obviously jumping the gun a bit. But I can’t help myself, so here’s what MGM has [...]

Hotel Okura Macau to open at GalaxyWorld Resort

Hotel Okura Macau is to debut in September 2009, Travel Business Review reported. Hotel Okura Macau is to offer 400 rooms and features such as a bar and club lounge, along with two restaurants, one of which is to be open 24 hours.
The hotel is to be part of a 15-million-square-foot Galaxy entertainment complex offering [...]