THE M3: JACOBS; GAMING WAGES

The Macau Metro Monitor, March 12, 2013

 

 

EX-SANDS OFFICIAL ALLEGES IMPROPRIETY WSJ

According to filings, Steve Jacobs alleges that Sheldon Adelson became "enraged" with the then-head of Macau's government, Chief Executive Edmund Ho, because of decisions made by Ho regarding condos that Sands was trying to sell in Macau.  The filing calls Adelson's alleged order a "threat" against Ho, but it doesn't specify how Jacobs was supposed to threaten the official.

 

Jacobs says Adelson ordered him to tell Ho that he was indebted to Adelson for settling a lawsuit to protect Ho.  Jacobs says Adelson's instructions were to remind Ho that "Adelson had settled a lawsuit paying $40 million" to help Ho "and that he [Ho] owed Adelson."  Jacobs said he refused to carry out the order, which he considered "improper," and reported it to the company's then-general counsel and to Chief Operating Officer Mike Leven.

 

Adelson said in his statement that he holds Ho "in the highest regard."

 

SURVEY ON MANPOWER NEEDS AND WAGES - GAMING INDUSTRY FOR THE 4TH QUARTER 2012 DSEC

At the end of 4Q, the Gaming Sector had 54,835 employees, up by 9.2% YoY.  In December 2012, average earnings (excluding bonuses and allowances) of full-time employees reached MOP18,040, up by 7.9% YoY. Job vacancies totaled 2,144 at the end of 4Q 2012, down by 130 YoY.