The Macau Metro Monitor, November 15th, 2010
MGM MACAU TO LIST UP TO 25 PERCENT OF CAPITAL macaubusiness.com
CEO Jim Murren announced that MGM Macau is targeting to sell up to 25% of its capital in its HK IPO. “We're going to list 20-25% of the total enterprise. I can't predict very specific in terms of timing but I can say we're ready”, Mr Murren told China Daily. Mr Murren also said that MGM Resorts International will open hotels in Beijing, Sanya, Tianjin, Chengdu and Shanghai from 2011 to 2014. The Beijing property will be the first to open, in August 2011.
AMBROSE SO NOT LEAVING SJM macaubusiness.com
SJM CEO Ambrose said he is not leaving the company. As SJM's third largest shareholder, So offered no explanation for his stock sale. He reiterated SJM's interest in Macau Studio City but still believes that "Macau peninsula is the centre of gaming." So expects the government to decide on the company’s request for a plot of land near Macau Dome “by the end of the year”, but noted that SJM isn’t “in a hurry to build in Cotai”.
WEN JIABAO URGES MACAU TO FOCUS ON SOCIAL AFFAIRS Intelligence Macau, Macau Daily Times
Premier Wen stressed the importance of closing wealth gap in Macau and addressing the inflation risk in housing and public goods. Wen said, "The Guangdong-Macau cooperation framework will further promote the ties between Macau and the Mainland. The Mainland will impose a significant impact on Macau's development and therefore I hope the [SAR] Government can be well-prepared and outline a [thorough] planning accordingly."
MORE CHALLENGING INFLATION FACTORS AT PLAY THIS TIME SCMP, Intelligence Macau
If history is any guide, more rate rises, loan quotas and price control could be planned as China combats inflation, particularly rising home prices. IM believes if lending quotas become a reality, it could be a major headwind for Macau.
