THE M3: SHERATON MACAU; FISHERMAN'S WHARF 2ND CASINO; STUDIO CITY; UNEMPLOYMENT

The Macau Metro Monitor, September 27, 2012

 

 

GREAT START FOR SHERATON Macau Business

Sheraton Macao Hotel achieved 100% occupancy on Saturday, and 90% occupancy on Sunday, according to a press release from Sands China Ltd.  “Occupancy rates for Sheraton Macao Hotel’s opening weekend far exceeded our expectations,” said Gunther Hatt, executive vice president of operations for Venetian Macau.

 

FISHERMAN'S WHARF PLANS SECOND CASINO: REPORT Macau Business

Macau Legend Development has plans to build a second casino as part of its HK$5 billion (US$645 million) redevelopment plan for its Macau Fisherman’s Wharf theme park.  The gaming facility would operate under SJM's gaming licence as a third-party promoted casino and it should be ready by 2016 at the latest.

 

The government’s revised land grant for Macau Fisherman’s Wharf was yesterday published in the official gazette.  The grant detailed enlarging the park’s area by over 23,500 square metres, to 133,000 square metres, but failed to mention a second casino.  Macau Legend also owns the five-star Macau Landmark hotel, which includes the Pharaoh’s Palace Casino.

 

CE DENIES CONFLICTING MESSAGES OVER STUDIO CITY

Macau CEO Fernando Chui Sai On denied that the Secretary for Economy and Finance Francis Tam and the Secretary for Transport and Public Works Lau Si Io were giving conflicting messages over a possible casino for Studio City, which Chui said is eligible to apply for a gaming floor. 


He was quoted by TDM as saying that the project originally contained a casino in the construction application submitted to the government, but the project was later transferred to MPEL, which did not include a casino in its first construction plan submitted to the Secretariat of Transport and Public Works.  Only later on did Melco file an application to a department under the Secretariat for Economy and Finance for a gaming venue inside Studio City.  

 

EMPLOYMENT SURVEY FOR JUNE - AUGUST 2012 DSEC

Macau unemployment rate for June-August 2012 held stable at 2.0% in comparison with the previous period (May-July 2012).  Total labor force increased to 351,000; the labor force participation rate stood at 72.3%, up by 0.1% point over the previous period. 


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