THE M3: JULY GGR; SANDS PROBE; WYNN COTAI

The Macau Metro Monitor, August 1, 2012

 

 

MACAU JULY GGR DICJ

Macau gross gaming revenues eked out a 1.5% YoY gain to MOP 24.58 billion (23.86 HKD billion, 3.08 USD billion).

 

SANDS CHINA CONFIRMS DATA REGULATOR PROBE Macau Business

Sands China confirmed today that Venetian Macau is being probed by the Macau Office for Personal Data Protection. Sands China said the body has launched an official investigation procedure in relation to the alleged transfer from Macau to the United States of “certain data”, related to the case of Steve Jacobs.


According to a news report from U.S.-based ProPublica.org earlier this week, Sands China and LVS moved documents from Macau to the United States in 2010 without the prior authorization of the Macau government.  The information allegedly transferred to the U.S. was stored on Jacobs' office computers in Macau, and was moved to Las Vegas a few days after he was fired, in July 2010.

 

The Office for Personal Data Protection confirmed it held a meeting with representatives for Venetian Macau in March 2012 to discuss the matter, but it says it never gave the “green light” for any data transfer.

 

WYNN MACAU CLINCHES FINANCING DEAL Macau Business

Wynn Macau Ltd said it will borrow up to US$2.3 billion to finance the construction of its Cotai casino resort, and also to refinance the company’s existing debt.  The amended facilities consist of: a US$750 million equivalent fully funded senior secured term loan facility maturing in July 2018; a US$1.55 billion equivalent senior secured revolving credit facility maturing in July 2017; and an option to upsize the total
 senior secured facilities by an additional US$200 million.

 

Once completed, Wynn Cotai is anticipated to include a casino, a five-star hotel with about 2,000 rooms and suites, as well as convention, retail, entertainment and food and beverage offerings.  The 
total budget for the project is estimated to be in the range of US$3.5 billion to US$4 
billion.

 


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