THE MACAU METRO MONITOR, JUNE 21 2013
SOUTH KOREA REJECTS PRELIMINARY CASINO LICENCE FOR CAESARS, UNIVERSAL Reuters
South Korea has rejected preliminary casino licences for two international bidders, a Caesars Entertainment and Lippo Limited consortium, and Kazuo Okada's Universal Entertainment. The surprise move could stall plans for casino development as a means to attract tourists.
MELCO CROWN SAYS ON TRACK TO OPEN $1 BLN PHILIPPINE CASINO BY MID-2014 Reuters
MPEL Philippines is on track to open its $1 billion gaming complex in Manila by mid-2014, targeting not just Chinese gamblers but Southeast Asian high-rollers as well its president, Clarence Chung said.
"We will open everything in one go in mid-2014. The project is already fully funded," said Chung. Chung added that Melco will take advantage of its Macau "connections and VIP database" in promoting its Manila operations. "The Chinese would definitely be one of the major targets and, obviously, we're targeting the Southeast Asians," he said.
MACAU LEGEND TO SLASH, DELAY IPO WSJ
Macau Legend development is considering cutting its fundraising size by more than half to up to US$358 million and delaying its listing, as deteriorating market conditions hurt demand for the casino operator's HK IPO.
Macau Legend had been due to price an IPO that was seeking to raise up to US$788 million Friday. It is now planning to announce a change in its listing plans next week, people with direct knowledge of the deal said. It now aims to relaunch the deal next week before an IPO listing in July, a person said, adding that Macau Legend is awaiting regulatory approval.
One of the people familiar with Macau Legend's deal said the company plans to offer just 934.8 million shares, down sharply from the originally planned 2.05 billion shares. Based on an indicative price range of 2.30 Hong Kong dollars to 2.98 Hong Kong dollars (29 U.S. cents to 38 U.S. cents) per share, Macau Legend could raise up to US$358 million.
CONSUMER PRICE INDEX FOR MAY 2013 DSEC
Macau CPI for May 2013 increased by 4.84% YoY and 0.28% MoM.