Jan
22
Ponte 16 update
Filed Under Macau, Macao, MACAU PENINSULA CASINOS, Sofitel Macau at Ponte 16 | Leave a Comment
From Macau Success press release:
“We are delighted to announce that our flagship project, Ponte 16, will have its grand opening on February 1, 2008,’ said Mr. Sonny Yeung, Chairman of Macau Success. “This world-class integrated casino-resort will become one of the most attractive landmarks in Macau, enabling the Group to enhance its status in the fast-growing gaming and entertainment-related industries in Macau.”
Ponte 16 is a world-class integrated resort comprising a five-star luxury hotel – Sofitel Macau at Ponte 16, a casino Read more
Jan
21
2007 Economic indicators for Macau
Filed Under Macau, Macao, Statistics | Leave a Comment
The two most important economic indicators (in my opinion) for Macau were just released:
Gaming Revenue
As long as revenue keeps growing at a nice clip, new resorts will continue to go up. As long as new resorts continue to go up, people will have jobs. From Macauhub:
“Gaming and gambling activities in Macau posted gross revenues of 83.847 billion patacas (US$10.48 billion) in 2007, a rise of 45.76 percent against the figures for 2006, the Gaming Inspection and Coordination Bureau (GICB) said in Macau Monday.
Of the total gross revenue, gambling Read more
Jan
17
Las Vegas financings get more difficult
Filed Under Macau, Macao, Cotai, Wall Street, Real Estate | 1 Comment
Wow, what a difference six months can make. It seems like just yesterday everyone was throwing money at new casino projects in Las Vegas. Now, the beautiful upcoming new casino resort on the Las Vegas Strip, The Cosmopolitan, has had its plug pulled by its banks.
What happened was that the Cosmo had a short term loan maturing but was unable to find investors to help with the refinancing. Whats so different Read more
Jan
17
CotaiJet ferry service to the Cotai Strip® will resume
Filed Under Macau, Macao, Cotai, TRAVEL, Ferry | Leave a Comment
Las Vegas Sands Corp. announced today that the Macao Intermediate Court has removed an interim injunction that had suspended the company’s entitlement to operate a ferry service between Hong Kong and Macao.
The CotaiJet service had been operating for just over a week and was offering service between Hong Kong’s Macao Ferry Terminal at Shun Tak Centre and Macao’s newly opened Taipa Temporary Ferry Terminal when it was suspended in mid-December.
The plaintiff in the case had sued the Macao Read more
Jan
15
Macau’s good and bad
Filed Under Macau, Macao, Cotai | Leave a Comment
There’s a nice article in the Chicago Tribune about Macau. It doesnt really break any new ground, but its a good overview of the good and bad points of Macau if you’re unfamiliar with the booming country.
It does mention the infrastructure issue, which to be honest, I’m surprised I dont see more of in the press.
From the article:
The world’s busiest casino town is straining to handle the affections of the world’s largest population. Read more
Jan
15
SJM IPO pushed back
Filed Under Macau, Macao, Wall Street, SJM | Leave a Comment
Reuters reports:
Macau tycoon Stanley Ho’s casino flagship, which had hoped to begin marketing a US$1 billion IPO on Tuesday, has pushed back the launch to address a regulator’s query, people briefed on the matter said.
No further details were available on when Sociedade de Jogos de Macau Holdings (SJM) would begin its investor roadshow. The sources said the company had received a request from Hong Kong’s Securities and Futures Commission for a procedural clarification.
Jan
13
Plaza Hotel Macau
Filed Under Macau, Macao, Cotai, Plaza Hotel Macau, ELAD Group | Leave a Comment
IHT.com has an article out on the ELAD group, which is building The Plaza Hotel and Casino in Las Vegas. This very ambitous US$8 billion casino hasn’t even broken ground yet (let alone gotten it financed), but that has not stopped them from talking about expanding their global footprint: Read more
Jan
13
Stanley Ho’s SJM IPO
Filed Under Macau, Cotai, Wall Street, SJM | 3 Comments
I dont know about you, but i’m pretty excited. After all the speculation on how Stanley Ho’s casino empire is doing, we’re finally going to find out. SJM has announced its IPO, which will provide all of us a look into how SJM has fared over the past several years post the new Macau competition.
The deal, which is expected to price before February 7th, will offer up to US$1 billion of equity to the public, or about 25% of its outstanding shares. So Ho will still be the majority shareholder and be the one running the show. Read more
Jan
13
Coloane Village video
Filed Under Coloane, TOURISM | Leave a Comment
The quiet side of Macau. Macau is not all about flashy casinos. For those who have never been to Macau, this video is worth checking out.
Jan
7
Cotai Strip®?
Filed Under Macau, Macao, Cotai, Las Vegas Sands | 1 Comment
If you’re like me (and hopefully you’re not) then you’ve probably been a little perplexed as to why a trademark symbol always follows the use of the word “Cotai Strip” by Las Vegas Sands.
Until now, the only explanation I’ve been able to find is from Wikipedia’s “Cotai Strip” entry:
“Las Vegas Sands currently has a trademark application pending with the United States Patent and Trademark Office for the name “Cotai Strip”. However, the name Cotai Strip is used generically by the press, as well as Read more
Jan
7
Goodbye Hotel Lisboa
Filed Under Macau, Macao, SJM, Hotel Lisboa | 3 Comments
Looks like the Cotai Strip® is bringing even the biggest and the best of the old-guard to its knees. BlogMacau.info has two informative posts on the demise of the Hotel Lisboa: Read more
Jan
7
Grand Waldo Hotel mixes up restaurants
Filed Under Macau, Cotai, Restaurants, Grand Waldo Hotel | Leave a Comment
It looks like we are now finally witnessing the early stages of Macau’s transformation from Mainland China and Hong Kong daytrip market to international destination. Now that the Venetian Macao’s expos and popularity are bringing in a more diverse group of tourists, the Cotai’s first hotel casino the Grand Waldo is changing its hotel lobby restaurant to accomodate Macau’s changing tourism industry. This may only be only one restaurant, but it shows that the very Chinese focused Grand Waldo is benefitting from the new Cotai Strip tourism and must now adapt. From MacauDailyTimesNews.com: Read more