THE M3: GALAXY MACAU; WYNN COTAI; S'PORE HOME SALES

The Macau Metro Monitor, May 16, 2011

 


GALAXY MACAU GETS OVER 20,000 VISITORS IN ITS FIRST 90 MINUTES Macau Business, Macau Daily Times, Intelligence Macau

Galaxy Macau anticipates between 30,000 to 40,000 guests per day.  Galaxy's Vice Chairman, Francis Lui, said Galaxy supports the bill that would raise the minimum age from 18 to 21 and that Galaxy is confident that the new tobacco law will make all parties happy.  In addition, Lui remarked that Galaxy Macau will help the local economy by increasing the average length of stay of visitors.  The average length of stay of tourists to Macau dropped to 1.45 nights in March but the executive hopes that Galaxy guests will stay ‘on an average two days or more’.

 

COO Michael Mecca said most of Galaxy's 450 tables are new and that the 1930's Shanghai-themed private club and restaurant China Rouge is still under development.  In September, Galaxy will launch a nine-screen, 3D multi-purpose cinema.

 

Galaxy Macau only takes up 1/3 of the area granted by the government in Cotai and the company is already looking at the future.  The company has until 2019 to develop the block.  “To do everything in one piece would mean that it could quickly become obsolete. The profile of our customer has changed so much in the last five years. We want to be sure about what the customer wants. At the appropriate time we will make an announcement on future projects,” Lui stressed.

 

IM is hearing that Phase 2 will include a mall.

 

WYNN SAYS NEW MACAU CASINO TO OPEN IN FOUR YEARS Bloomberg

According to Steve Wynn, Wynn Macau looks to double its earnings in Macau after its Cotai resort opens.  "I don’t know what measurements you use -- revenue, profitability, total visitation, but we could be easily twice as big,” said Wynn.  Wynn said he expects government permission to start building the new casino any day now.  "The new project on Cotai may take longer than normal to construct because it’s being built on reclaimed land," Wynn added.  Wynn Cotai is planned for a 2015 opening.

 

Wynn says his company faces no FCPA risk, and he does not believe that Sheldon Adelson is so stupid as to have blackmailed anyone.

 

PRIVATE HOME SALES UP 29% IN APRIL Channel News Asia

According to the Urban Redevelopment Authority, 1,788 private homes were sold in Singapore last month, a 29% MoM increase from March.


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