The Macau Metro Monitor, December 12, 2011
COTAI PLOT GRANTED 'IN PRINCIPLE': SJM Macau Daily Times
“In principle we got a letter saying that it [the Administration] will grant the land to us but we haven’t been given any further notice about, for instance, the premium payment,” SJM CEO Ambrose So said. So added that the Cotai investment will be about US$ 2 billion and he expects the land grant procedures to be ready next year. After the concession is complete, SJM will begin diversifying its business with a bigger investment in non-gaming.