THE M3: MPEL HK IPO; NEVES COMMENTS

The Macau Metro Monitor, August 31, 2011

 

 

PRESS DIGEST HK Reuters

MPEL plans to launch its HK IPO in October.  Rumors indicate up to US$500MM may be raised.

 

MACAU: VISITORS UP ON THE LAST WEEKEND OF SUMMER Macau Daily News

Border crossing at the Gongbei border reached 600,000 in the last weekend of the summer holiday. The Gongbei port has accumulated up to 16MM passengers during the summer holiday.  Expansion plans for the Gongbei border will be sped up to improve the border crossing experience of travelers.

 

GAMING REVENUE TO GROW 'ABOVE 35%': REGULATOR Macau Daily Times

DICJ director Manuel Joaquim das Neves forecast 2011 Macau GGR growth above 35%.  In April, Neves had said 2011 growth would be between 20-30%.  Neves also stressed that, as Macau’s gaming regulator, he is inevitably inclined to have “a conservative outlook”.

 

The forecast proposed by Neves would place casino revenue for the final four months of this year at less than MOP 83BN, up by only 17.5% from the same period of 2010.

 

DICJ REJECTS JUNKET MONEY LAUNDERING LINK Macau Daily Times

DICJ director Manuel Joaquim rejected yesterday's leaked US diplomatic cable saying, “It’s not impossible but it is very difficult to conduct money laundering in local casinos. We have had no such problem so far. People might think it’s possible to simply buy some chips at a casino and then trade them at another counter but it’s not. Gamblers must prove they played and that they won that amount and casinos have to write a check with the winner’s identification."


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