The Macau Metro Monitor, May 13, 2013
AMBROSE SO EXPECTS APPROVAL OF SJM'S COTAI PROJECT BY JULY Macau Daily Times, Macau Business
Ambrose So, CEO of SJM, expects that their MOP20b Cotai casino-resort project will obtain formal approval by the government in 1H 2013. So expected the authority to finalize the approval procedures within two months, and construction works are expected to start within the year, in order to complete the project by 2016-17.
At initial planning, So said the project would create some 500,000 square meters of floor area. SJM said it is planning to have 700 gambling tables in its first gaming project in Cotai. So also is in discussions with SJM's director Angela Leong on how they can rent Leong's land (180,000 sq mt plot near Macau Dome on Cotai devoted to a family-focused non-gaming resort).
When asked about the low performance of SJM’s casinos in the first air quality test, So admitted that the company would have difficulties in making all of its casinos meet the requirements. However, the operator will try to use supplementary facilities to improve the gaming venues’ air quality.
GALAXY JOINS HANG SENG INDEX Macau Business
Galaxy will be added to Hong Kong’s benchmark Hang Seng Index with effect from June 17. Galaxy will take the place of Esprit Holdings Ltd – a retailer and manufacturer of fashion clothing. Becoming a member of the Hang Seng index could provide a boost to a firm’s share price, Business Daily reports.