The Macau Metro Monitor, July 25, 2012
NO CASINO FOR STUDIO CITY: OFFICIAL Macau Business, WSJ
According to a revised land concession contract in today's Official Gazette, MPEL's Macau Studio City will not include a casino. The plot, with an area of 130,789 square metres, is earmarked for the development of a five-star hotel, plus movie industry-related facilities, the contract states.
Melco Crown’s chief executive Lawrence Ho Yau Lung accepted the contract terms in a written statement presented to the government on June 13, it is said.
It's possible the government could give the green-light on a casino later, but the uncertainty could complicate the company's efforts to finance the project.
NEPTUNE EYES EXPANSION Macau Business
Junket operator Neptune Group Ltd “is currently in the discussion of possible investment in gaming promotion business in casinos in Macau which may require to be disclosed under the requirements of the listing rules” in Hong Kong’s stock exchange. Last week, Neptune’s share price and trading volume posted an unusual increase, leading the VIP room promoter to issue a filing saying there were no negotiations or agreements relating to intended acquisitions that were of compulsive disclosure under Hong Kong Stock Exchange’s rules.
LABOR DISPUTE AT SANDS COTAI CENTRAL Macau Daily Times
Over 200 workers of Sands Cotai Central called the police for help early yesterday morning in a dispute with management over the overtime working arrangements during the typhoon conditions. In a press release last night, Sands said “early this morning, there was a misunderstanding among a group of gaming team members at Sands Cotai Central, regarding the company’s overtime compensation policies during typhoons. After representatives from the Labor Affairs Bureau arrived on site to assist in answering the concerns of the involved team members, all concerned team members returned home.”