The Macau Metro Monitor, September 24, 2012
STUDIO CITY CAN APPLY FOR CASINO: GOV'T Macau Business, Macau Daily Times
According to Secretary Tam, Studio City can apply for a casino. This was the first time a government official had said so, after a string of statements to the contrary. Tam said the government had already agreed that Studio City could apply for a casino in 2006, when the original investors in the project requested it. Tam also admitted that some of the new 2,000 live gaming tables to become available until 2023 under the 3% average yearly growth rate cap to be introduced next year, could go to Studio City.
Mr Tam added the information that “they were given the land already in 2003. The question is whether or not this land can have casinos or not”, he stated. “At the time of the first request they did not include any projects for casinos. It must be evaluated.” According to the Secretary, “this can’t be done fast.”
Also, the requested 400 gaming tables for the recently opened Sheraton Hotel in Sands Cotai Central will probably be approved “only next year”. The government had originally agreed to this number of tables and 200 were approved already. The Secretary also referred to Sands’ “little Paris” project saying, “This is no new project, as it had already been integrated into the Venetian and Four Seasons projects. It’s only the construction works that are divided into different phases.”
AUGUST VISITOR ARRIVALS DSEC
Visitor arrivals totaled 2,681,141 in August 2012, down slightly by 0.6% YoY. In August 2012, the average length of stay of visitors stood at 1.0 day, down by 0.1 day YoY. Visitors from Mainland China increased by 4.1% YoY to 1,635,080, with those travelling to Macao under the Individual Visit Scheme rising by 10.6% to 772,534.
SINGAPORE INFLATION UP AT SLOWER PACE IN AUGUST Channel News Asia
Singapore's consumer prices rose at a slower pace in August, as costs of accommodation and services moderated. The consumer price index (CPI) rose 3.9% from a year earlier, after rising 4.0% in July. The CPI rose 0.6% in August from July, after a MoM rise of 0.2% in July. The Monetary Authority of Singapore said core inflation, which excludes accommodation and private road transport costs, fell to 2.2% in August from 2.4% the previous month.