THE M3: MGM COTAI AND MACAU DIVERSIFICATION; NEW CENTURY HOTEL SEIZED

THE MACAU METRO MONITOR, DECEMBER 26, 2013

 

 

'HALF' MGM COTAI FLOOR FOR ENTERTAINMENT: CEO Macau Business Daily

“Our Cotai project is more like a series of theatres or a series of galleries, where we can actually bring things.  It’s probably in excess – just for the entertainment pieces – of 50% of the floor space. But the way we’re going to do that is it’s going to be interspersed with other activities,” said MGM China CEO Grant Bowie.

 

Macau watchers know that after years locally of ‘motherhood and apple pie’ speeches on the benefits of diversifying Macau’s economy away from hardcore casino gambling, this time the central government in Beijing appears to be really serious about achieving it.  President Xi Jinping mentioned it again last week when he met Macau’s CEO Fernando Chui Sai On.  So did Bai Zhijian, director of the Liaison Office of the Central People’s Government, at the anniversary celebrations on Friday marking Macau’s 1999 handover from Portuguese administration.

 

Simply putting an art gallery in a casino won’t in itself achieve Beijing’s goal. But the Macau government is likely to reward those casino operators that show greatest willingness to assist it in the diversification drive.

 

NEW CENTURY SEIZED OVER DEBTS TO TRAVEL AGENCY BOSS Macau Business Daily

The New Century Hotel, Taipa, has been seized for unpaid debts that were due the owner of a Macau-based travel agency, according to a judgement of the Court of First Instance.  Hoi Cheng Nga, head of Macau-based Energy Travel Agency Ltd, had sued Empresa Hoteleira de Macau Lda – the Macau-registered operator of New Century.  Within the grounds of the hotel is Greek Mythology Casino, which operates under the gaming concession of Stanley Ho Hung Sun’s Sociedade de Jogos de Macau SA.

 

 

 



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