The Macau Metro Monitor, May 23, 2011
WYNN RESORTS MAY EXPAND INTO SINGAPORE OR S. KOREA CHOSUN SAYS Bloomberg
According to Chosun Ilbo, Steve Wynn said the company may consider expanding into Singapore or South Korea, if allowed. Wynn is ready to invest $2-3BN in South Korea if the government allows its citizens entry into casinos.
VISITOR ARRIVALS FOR APRIL 2011 DSEC
Total visitor arrivals increased by 10.7% YoY to 2,338,449 in April 2011. Mainland China visitors increased by 20.7% YoY to 1,270,753 (54.3% of total visitor arrivals), mostly coming from Guangdong Province (628,970), Fujian Province (76,145) and Zhejiang Province (47,188); those traveling to Macao under the Individual Visit Scheme totaled 495,424, up by 27.0% YoY. Visitors from Hong Kong (709,053) and the Republic of Korea (25,865) increased by 2.1% and 2.4% respectively, while those from Taiwan (110,410), Malaysia (27,122), and Thailand (24,468) decreased by 1.3%, 10.8% and 3.6% respectively.
WYNN RESORTS CEO DOUBLES DOWN ON CHINA CASINO BUSINESS WSJ
WSJ: Do you have anyone in mind to become the next CEO of Wynn?
Steve Wynn: ...there are a score of young people who are very smart and very healthy, in Nevada and Macau. Incidentally, Linda Chen [chief operating officer of Wynn Macau] is on the board of the parent company. So if you ask me who could do it? A Chinese woman.
WSJ: Why has it taken so long to get the go-ahead to build in Cotai?
Steve Wynn: This current government is very meticulous. We've noticed a very definite tightening of attention to detail. Things happened faster when they were starting up. Now [the government is] managing a rather big industry.
INFLATION RISES AT SLOWER PACE IN APRIL Channel News Asia
S'pore CPI rose 4.5% YoY, a little lower than the 5% increase seen in March. The core inflation measure rose 2.2% YoY and 0.6% MoM.