WYNN RESORTS FILES FOR HK IPO OF MACAU UNIT scmp.com
Wynn Resorts has submitted an application to list its Macau unit on the Hong Kong exchange, hoping to raise between US$500 million and US$1 billion. Wynn’s plans come as LVS prepares an IPO of its own Macau division. No decisions have been made regarding the timing or terms of any offering or whether the subsidiary will proceed with the transaction.
MACAU AIRPORTS PASSENGERS DOWN 22% IN 1ST HALF YEAR macaunews.com.mo
Macau International Airport’s passenger traffic was down 22% for 1H09, compared with the same period last year. A statement from the Macau International Airport Company said that “there is the need to prepare for the after-crisis, and CAM has been proactively promoting the airport to airlines in target markets and developing strategic alliances with other airports”. There is also a planned new service between Macau and South Korea due to start “after the summer”.
MACAU’S INFLATION IN JUNE THE LOWEST IN 5 YEARS macaunews.com.mo
Macau’s composite consumer price index rose just 1.1% in June. It was the lowest year-over-year growth rate in five years, according to the Statistics and Census Service (DSEC). The average consumer price index for the first half of this year grew 2.54% on the same period of last year. The composite CPI is intended to reflect the impact of price changes on the general population.
MACAU’S GAMING TAX PAYMENTS DROP 10% IN FIRST HALF YEAR macaunews.com.mo
The government income from taxes decreased 10.3% y-o-y to MOP18.51 billion in the first six months of the year. Direct gaming taxes accounted 72.5% of the government’s total revenue in 1H09. The Gaming Inspection and Coordination Bureau announced a 12.4% decrease y-o-y to MOP51.42 billion in 1H09. The number of casino licenses – not necessarily all operational – held by Macau’s six gaming operators stood at a record 32 at the end of June.