THE M3: CASINO ACT; GRAND WALDO

The Macau Metro Monitor, July 6, 2012

GOVERNMENT PROPOSES CASINO ACT AMENDMENTS Today Online

A public consulation on proposed amendments to Singapore's Casino Act will start on Monday and end August 6.  Among the proposed changes is the setting up of an Evaluation Panel - appointed by the Minister for Trade and Industry - to give its opinion to the Casino Regulatory Authority (CRA) on the performance of the IRs in terms of their attractiveness as tourist destinations, when processing casino licence renewal application.  There are no plans to change the casino entry levy for now, said the public consultation paper.

GET NICE SELLING GRAND WALDO Macau Business

Hong Kong-listed Get Nice Holdings Ltd is selling its controlling stake in casino resort Grand Waldo in Cotai.  According to Business Daily, the company has already signed a letter of intent with an “international group engaged in the operation of a number of hotels, casinos and other entertainment facilities."  If the deal goes ahead, Get Nice will receive US$500 million (MOP4 billion) for its stake in Grand Waldo.  Get Nice indirectly owns 65% of the Grand Waldo.