THE MACAU METRO MONITOR, OCTOBER 14, 2013
QUEENSLAND MULLS 3 NEW CASINOS IN TOURIST PUSH ECHOING SINGAPORE Bloomberg
Australia's Queensland state may issue as many as three new casino licenses as it seeks to spur tourism with integrated resorts modeled after Singapore’s Marina Bay Sands and Resorts World Sentosa. The state will welcome applications for redevelopment of a riverfront site in central Brisbane that includes an existing casino operated by Echo Entertainment Group, and consider allowing two more licenses elsewhere in the state, Premier Campbell Newman said.
The move challenges Echo, which has three of Queensland’s four current licenses and accounted for 97% of casino spending in the state in the 12 months through June, according to data compiled by Bloomberg. Neighboring New South Wales state agreed in July to examine plans by billionaire James Packer's Crown Ltd for a casino in Sydney that will challenge Echo’s monopoly in that city.
SINGAPORE ECONOMY UP IN Q3 WITH EXPANSION INTO 2014 EXPECTED Channel News Asia
Singapore GDP grew 5.1% YoY, beating market expecations of 3.8%. Looking ahead, the Monetary Authority of Singapore said it expects the economy to continue to expand for the rest of 2013 and into 2014, although some volatility in growth rates is likely. It added that barring a significant deterioration in global demand conditions, the labour market will remain tight, and inflation could rise as firms pass on accumulated costs with the MAS.
