The Macau Metro Monitor, September 6, 2011
SANDS' CHINA UNIT SAID TO INCREASE LOAN BY $200 MILLION TO $3.7 BILLION Bloomberg
Sands China has increased its loan target to US$3.7BN from US$3.5BN. As well as using the proceeds to refinance debt, Sands China will use the money to fund the completion of the construction of two phases of Sands Cotai Central. The facility is expected to close at the end of Sept 2011. About 10% of the loan was sold in general syndication to around 16 banks.
PACKER, HO MAY INVEST $1 BILLION IN MANILA CASINO, GAMBLING REGULATOR SAYS Bloomberg
According to Cristino Naguiat, Chairman of PAGCOR (Philippine Amusement & Gaming Corp), James Packer and Lawrence Ho may invest US$1BN in a Manila casino project. "Discussions are still ongoing with MPEL. I think they're serious," said Naguiat.
The Philippines awarded four gambling licenses in 2008 and 2009. Each Philippine licensee agreed to invest $1BN over five years. Three of the four that were given licenses in 2008 to 2009 were a venture between Genting Malaysia and Alliance Global Group Inc., Philippine property developer Belle Corp, and Philippine ports magnate Enrique Razon’s Bloombury Investments Holding Inc. The 4th licensee may be Universal Entertainment Corp, a Japanese maker of pachinko pinball machines, who started building its project in June and plans to open by 2014, according to Kazuma Ishioka, a Tokyo-based spokesman.
Belle and Bloombury have started construction while the rest will begin by 1Q 2012, Naguiat added.
SANDS CHINA LOOKING FOR STAFF Macau Business
According to Sands China, around 1,300 job seekers attended Sands' latest recruitment fair in late August. The August recruitment fair is the second from Sands China this summer, having completed their first in July. A new recruitment fair is already scheduled for September 28 and 29.
WYNN SUBSIDIARY TO PAY LOCAL FIRM US$50 MILLION FOR COTAI LAND Macau News
According to Wynn Macau's interim report, the Wynn subsidiary associated with the Cotai land agreement is Palo Real Estate Co. Ltd., who is subject to a 10% voting interest by Macau businessman Wong Chi Seng in Wynn Macau. The interim report also said that the company was finalizing its Cotai project's scope and budget.
LOCAL FIRMS MULLS INDIA CASINOS Macau Daily Times
According to a Mumbai-based developer, gaming operators from Macau, Singapore and Las Vegas have shown interest in the technology, branding, marketing or even running the gaming operations of his off-shore Casino Royale, based in the state of Goa. The revenue of Goa casinos has been growing 50% a year since 2008. Goa and Sikkim are the only two Indian states that allow live gaming.