The Macau Metro Monitor, October 9, 2012
VIP BUSINESS PICKED UP DURING GOLDEN WEEK HOLIDAY Jornal Va Kio
Despite the increasing number of tourists during the golden week holiday, the catering and retail sectors said business was not as good as expected. However, VIP gaming business was in-line with expectations during the period. Investors are still optimistic on fourth quarter revenues for the VIP business.
VISITORS WELL BELOW EXPECTATIONS Macau Daily Times
According to the Public Security Police Force (PSP), a total of 1.6 million visitors entered Macau during the Golden Week holiday. The number of visitors registered between September 29 and October 7 was well below some expectations. Some reports mention that about 2 million people were expected to enter the city through the Border Gate, while others were arriving thorough the ferry terminals and airport.
GENTING SCIONS GAIN FOOTHOLD IN AUSTRALIA, EYE ASIA GAMING DEALS Reuters
Joey Lim Keong Yew and Ben Lim Keong Hoe, grandsons of Genting founder, the late Lim Goh Tong, and nephews of current CEO and chairman KT Lim, have acquired 95% of Two Way, an Australian wagering group. Donaco Singapore, the company controlled by Joey Lim and Ben Lim, will be renamed Donaco International Ltd. Two Way will initially focus on the expansion of the Lao Cai International casino and hotel complex in Vietnam, which represents all of Donaco's assets, but is also planning two similar projects and a casino cruise ship.
The expansion of Lao Cai to a 428-room hotel with a casino housing 26 gaming tables and 150 slot machines, due for completion next year, is expected to provide a significant boost to revenue. Mak Siew Wei, an executive director of Donaco who will join the Two Way board, said two similar casino-hotel projects in two other Asian countries were "far along" the planning stages, but declined to give more details due to the sensitivity of licensing negotiations.