Archive for May, 2006

Wynn pays record price for Chinese Ming vase

May 31, 2006 - An early Ming vase, more than 600 years old, has become the most expensive Ming porcelain sold, with a price of more than US$10m (£5.3m). An early Ming underglaze copper-red vase is displayed after it was sold for a world record of US$10,122,558 for any Ming porcelain during Christie's "The Imperial Sale"

IGB Corp plans more overseas openings

May 31, 2006 - PROPERTY development and investment firm IGB Corp Bhd plans to expand its hotel properties to Thailand, Macau, Vietnam, Australia and Europe. However, it may take at least 12 months before it happens. “We are excited about (the opening of hotels in) Bangkok, Macau, Vietnam, and Australia and we are at various stages

Macau’s GDP rises 18.8 percent in first quarter of 2006

Macau, China, 30 May, 2006 – Macau's gross domestic product (GDP) grew by 18.8 percent in real terms in the first quarter of this year, as compared with the same period of 2005, official figures showed. According to data published Tuesday by the Statistics and Census Bureau, GDP growth was mainly due to a 14.9 percent

Melco seeks $1.2b to buy site for casino

May 31, 2006 - Melco International Development, controlled by the family of casino tycoon Stanley Ho, is seeking to raise up to HK$1.2 billion through a share placement to fund a land acquisition for a casino in Macau, people familiar with the situation said. The offering by Melco, whose share price has more than doubled this

Macau Property Opps Fund Plans AIM Listing On June 5

May 31, 2006 - Macau Property Opportunities Fund Limited said Tuesday that it plans to raise GBP105 million via an initial public offering on the U.K. Alternative Investment Market. The company will issue up to 105,000,000 Ordinary Shares of US$0.01 nominal value each in the Company at price of 100 pence per Ordinary Share. Up to 10%

Sands secures US$2.5b package

May 30, 2006 - Las Vegas Sands has nailed down a US$2.5 billion (HK$19.5 billion) loan package for its Venetian Macau subsidiary after at least half a year of seeking banks willing to fund its high-stakes bet on Macau's transformation into a convention and resort destination.The money will primarily fund the construction of the US$2.3

Feud between gaming tycoon Stanley Ho and sister heats up

May 26, 2006 - HONG KONG : The family feud between Macau gaming tycoon Stanley Ho and his estranged younger sister, Winnie Ho, continues in Macau's civil court. In this particular round, she is challenging the legitimacy of plans for a US$2 billion public listing in Hong Kong. It is like something out of the Cantonese soap-opera

Singapore bets on Las Vegas Sands

May 26, 2006 - Las Vegas Sands has won the contract to build and run what is expected to become the most expensive casino complex in the world. The government of Singapore has earmarked a 50-acre waterfront site for the casino, which will be the first in the country and forms part of an effort to

Macau Casino Revenue Eclipse Las Vegas Strip Resorts

May 27, 2006 (AP) - Macau has been described as Asia's Las Vegas, but a researcher says that in terms of casino revenue -- both reported and unreported -- the former Portuguese colony's clubs have eclipsed Las Vegas Strip resorts.Merrill Lynch casino analyst Sean Monaghan, speaking at the 13th International Conference on Gambling and Risk-Taking

PBL, on a roll in Macau, plans US float

Spades are trumps for PBL chairman James Packer (right). May 26, 2006 - PUBLISHING & Broadcasting Ltd and its Asian partner, Melco International, are planning to cash in on their investment in Macau's white-hot gambling market. Their joint venture would be publicly listed in the US later this year, company sources confirmed yesterday. The partners are planning to