Archive for December, 2007

Macau Investment Forum to be Held 21-22 February 2008

Institutional Investor Conferences announces the 3rd Annual Macau Investment Forum, to be held February 21-22, 2008 at the The Venetian Macau Resort Hotel. Following with tradition, the 2008 Forum will bring together global investors, issuers, and gaming and entertainment professionals with their Chinese counterparts. This event will offer participants unique, interactive and in-depth discussions on Macau’s

MGM Mirage Still Under Strutiny With Macau Casino Deal

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, Pansy

Venetian Macao to Host World's Most Expensive Cirque du Soleil Shows

Cirque du Soleil (Cirque), the hit performance troupe from Quebec, Canada, is already in town. Featuring no animals, they are utterly in a league of their own and are successfully selling their tickets at a high premium. So aware are they of their asymmetric bargaining power, they can even influence their business partners to engage

Macau Receives Record Numbers of Christmas Visitors

Again Macau breaks new records with the arrival of about 779,000 vistors during the Christmas holidays, with at least thirty thousand Hong Kong people congesting the entry ways of Macau as most of them began their Christmas holidays on Tuesday. Information from the Chinese language Macau Daily newspaper showed that the number of arrivals reached 55,000

Emperor Holdings Buy New Macau Site

Hong Kong-based investment company Emperor International Holdings is to acquire a commercial property in Macau for HK$430 million(US$336.4 million). The site is in Avenida da Praia Grande, a central commercial area in downtown Macau. The terrace of three-story commercial buildings has a total saleable area of 10,167 square feet, and the company said the purchase

MGM Grand Macau Rakes in US$18 Million in First Week of Opening

MGM Grand Macau which openend on 18 December 2007, has according to our reliable sources taken over US$19 milion in gambling revenues during it's first week of opening of the casino. At this rate at say US$3 milion per day, that would amount to a whopping US$1 billion in it's first year. Obviously this is highly

Harrah's Entertainment to Develop Cotai Strip Phase II?

Harrah's Entertainment, the world's largest gaming company by revenue, has paid US$577.7 million or HK$4.5 billion for Macau's Orient Golf Course in the biggest Cotai Strip land deal to date. However, licences to develop casinos on Cotai have already been awarded to casino developers by private government grants and the golf course comes with no such

Ticket Touts at Macau Ferries Becoming a Pest

Ticket touts are increasingly working the ferry terminals between Hong Kong and Macau, cashing in on the tourism boom in the territory that has revealed the inadequacy of ferry services. The public recently complaint about both the lack of ferries and associated ticket scalpers, when Venetian Macao held the exhibition matches between tennis stars Pete Sampras

MGM Mirage and Dubai World to Dabble in Macau Investments

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 MGM Grand Macau, its first casino in Macau, said the projects would be 'non-gaming'. Dubai World secured

eSun Looking to Raise US$1.2 Billion to Finance Macau Studio City

eSun Holdings, a subsidiary of Lai Sun Development plans to raise 1.2 billion US dollars, around 9.36 billion Hong Kong dollars, in syndicated loans to finance its Macao Studio City project. "The total construction fee of the first phase of about 3.6 million square feet is about US$1.4 billion and is expected to be completed in