The Macau Metro Monitor, December 30, 2011
MACAU CASINOS TO RAKE OVER MOP268 BILLION IN 2011 Macau Business
According to Portuguese news agency Lusa, Macau gross gaming revenue for 2011 was over MOP268 BN (US$33.5BN). Casinos will post around MOP24 BN (HKD23.3 BN) in GGR in December, up 27% YoY.
GENTING TO BUILD 2ND CASINO Manila Standard Today
Star Cruises Ltd. of Genting Malaysia Bhd., co-operator of the country’s largest casino, and local partner Alliance Global Group Inc. plan to start building their second gambling resort in Pasay City next year to meet demand. “We are confident that there is a market,” Alliance president Kingson Sian said. The second project, called Resorts World Bayshore, follows the existing Resorts World.
Genting and Alliance’s venture, Travellers International Hotel Group, will build a 31-hectare gaming complex in Pasay City after winning one of four casino operator licenses the Philippines issued in 2008 and 2009. Belle Corp., Bloomberry Investments Holding Inc. and Japan’s Universal Entertainment Corp. are also building casinos under the licenses.
Bayshore Manila will be the company’s second integrated tourism estate. It is three times the size of Resorts World Manila.
LOCAL BANK LENDING PICKS UP PACE AGAIN IN NOVEMBER Strait Times
Bank loans expanded by 2.3% in November from the preceding month, according to central bank data on Dec 30. In comparison, October's rise was only 0.3% - the slowest rate of growth since July 2010. Before October, total bank loans had averaged about 2.6% growth this year.