THE M3: CHUI COMMENTS; WYNN COTAI

The Macau Metro Monitor, November 13, 2012

2013 POLICY ADDRESS Macau Business

Macau CEO Chui didn’t announce any special measures for the gaming sector, although he stressed the government wants casino operators to better fulfill their social role and further promote responsible gambling. He confirmed the completed Taipa Ferry terminal should only be ready in the first half of 2014. The terminal was first intended to be up and running by 2007.

The cash handout program will continue in 2013, handing even more money to both residents and non-residents.  Permanent residents will receive MOP8,000, while non-permanent residents MOP4,800.  This year’s cash handout was MOP7,000  for each permanent resident while non-permanent residents received MOP4,200.

LEIGHTON TO BUILD WYNN COTAI Macau Business

A subsidiary of Australian-based Leighton Holdings Ltd has been chosen by Wynn Macau Ltd as the preferred proponent to design and build its maiden property in Cotai.  According to Leighton, Wynn Cotai’s construction is scheduled to begin next month and the expected completion date is in early 2016.  The 
total budget for the project is estimated to be in the range of US$3.5 billion to US$4 billion.