THE MACAU METRO MONITOR, SEPTEMBER 5, 2013
CASINOS TO RAISE MASS MARKET MINIMUM BETS FOR HIGHER REVENUE Macau Daily News
To increase the betting turnover in the mass market, tables with minimum bet of $50, $100 are all replaced by electronic table games, and table limits of gaming tables are raised to $500 or above. This strategy has proven great success by casino operators. With the increase of minimum bets of gaming tables to $500 and up to $3,000, the latter mainly for high-end customers, scholars believe mass market business and VIP business will not be overlapped in this case, because low limit VIP tables are unprofitable due to the high operating cost in VIP business.
SJM RAISES BUDGET FOR NEW CASINO RESORT IN MACAU'S COTAI Bloomberg
SJM CEO Ambrose So said its Cotai project will cost HK$25BN, $5BN higher than its previous forecast, due to rising labor and construction costs.
MGM TO HIRE OVER 7,000 STAFF FOR NEW PROJECT Macau Daily News
MGM China CEO and Executive Director, Grant Bowie, said that its new development project is progressing in an orderly manner. He expects to hire 7,000-8,000 employees after completion and stressed that priority will be given to Macau residents. He also added that the company will apply to the Government for 500 gaming tables.
HEAVY RAINFALL CAUSES LANDSLIDES AND FLOODING Macau Daily Times
The Meteorological and Geophysical Bureau (SMG) twice issued rainstorm warnings yesterday. Schools were closed in the morning with flooding witnessed in some areas of Taipa and Coloane. The Land, Public Works and Transport Bureau has received four reports of landslides in Coloane, one of which took place near residential buildings.