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 [...]

–Happy New Year’s–
Macau celebrated the coming of the new year all throughout the city, with performances and shows and the appearance of local celebrities at the Macau Fisherman’s Wharf and the Sai Vai Lakes. Amongst the new year’s activities, the Grand Lisboa started its celebrations at 11pm and at midnight had its first countdown into [...]

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 [...]

Gambling mom leaves kids at home

A single mother left her two young daughters home alone while she indulged in a week-long gambling spree, a Hong Kong court report said Saturday. The mother left the girls aged eight and nine with just 160 Hong Kong dollars (20 US dollars) on a Friday night in October and left for Macau, a gambling [...]

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, [...]

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 [...]

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 [...]

Wynn Macau expansion to open soon

 Wynn Resorts, Limited announced today that it will open its Wynn Macau expansion on Monday, December 24th; approximately one month earlier than anticipated. The expansion will include 85 additional tables, 551 new slot machines and Wynn Macau’s new rotunda entrance showcasing a dramatic front feature attraction. Subsequent to the opening of the expansion, Wynn Macau [...]

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 [...]