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THE MACAU METRO MONITOR, JULY 12, 2013

GRAND WALDO OVERHAUL TO TAKE SIX MONTHS Macau Business

Galaxy has requested government permission to suspend operations at the Grand Waldo hotel and casino for six months. Galaxy bought the controlling stake in the Grand Waldo last month and closed the property on July 1 for renovations.

It appears no major architectural changes will be made to the property and it may reopen in time for Lunar New Year.

Business Daily quotes a gaming industry source as saying that Galaxy Entertainment was “expected” to apply to use the Grand Waldo’s 38 live gaming tables and 148 slot machines at its other properties.

SINGAPORE 2ND QUARTER GDP GROWTH STRONGEST IN OVER TWO YEARS Reuters

According to advance estimates from Singapore's Ministry of Trade and Industry, 2Q GDP grew an annualized and seasonally adjusted 15.2% QoQ, nearly double the 8.3% median forecast of economists polled by Reuters.  The quarter-on-quarter expansion in GDP was the strongest since the first three months of 2011.  From a year ago, GDP rose 3.7%, improving from the first quarter's 0.2% YoY expansion and beating the median forecast for a 2.0% expansion.