TAUBMAN IN TALKS TO EXTEND MALL AGREEMENT IN MACAU GROWTH BET Bloomberg.com
Taubman Group has said that it is in discussions with eSun Holdings to reinvest in a shopping center at Macau Studio City. eSun Holdings has slowed construction of Macau Studio City and Taubman’s previous agreement with eSun has been terminated because conditions attached to the agreement weren’t met. However, according to Morgan Parker, Taubman’s Asia president, “we consider Macau Studio City the best retail opportunity in Macau and are keen to remain associated with the project if Cyber One is able to secure financing.”
Furthermore, Parker says, we believe that Macau “represents the best proxy to accessing the Chinese consumer” but stressed that Taubman is not interested in buying the malls Las Vegas Sands Corp. is putting up for sale there.
MACAU LOST 75 NON RESIDENT WORKERS PER DAY IN JUNE jtm.com.mo
During the month of June, Macau lost an average of 75 non-resident workers per day. At the end of June, Macau had 83,616 non-resident workers, 2,271 less than those registered at the end of the previous month. Most of the labor force imported into Macau came from Mainland China (46,628 workers), even though that number was also reduced during June by 889 workers.
The population of Macau was estimated to be 544,200 at the end of June, 5,000 less than it was at the end of last year.