The Macau Metro Monitor, December 13, 2012
JAPAN'S OKADA GETS PHILIPPINES PARTNER FOR CASINO Channel News Asia, Macau Business
Robinsons Land Corp., a Gokongwei-controlled developer, said it would take a minority stake in an Okada firm that owns a gaming franchise in the Philippine government's giant Entertainment City complex along Manila Bay. Under the deal with Okada's Universal Entertainment Group, Robinsons Land said it would also purchase a majority stake in a company that owns land at Entertainment City.
The listed Filipino developer did not disclose the total value of the deal, which it said was still "subject to comprehensive due diligence and the signing of definitive agreements in the near future". The final contract will be signed by January 31, according to Universal.
INFLATION UNDER 6% NEXT YEAR: TAM Macau Business
Secretary Tam expects inflation to be below 6% after Chinese New Year, which falls on February 10. Speaking to local media yesterday on the sidelines of a public occasion, the secretary admitted that there will be some price fluctuations in the next two months due to “seasonal factors”, but the inflation rate would ease after that.
He also predicted stable growth in Macau’s economy in 2013, while internal demand will slow down compared to this year. Tam said that the inflation rate this year will be approximately 6%, which is in-line with the government’s estimate.