The Macau Metro Monitor. November 2, 2009
UNEMPLOYMENT DOWN 0.1% macaudailytimes.com.mo
For the July-September period, the unemployment rate decreased by 0.1% to 3.7%. Information released by the Statistics and Census Service also stated that Total labor force was 328,000 during the same period, with the employed population decreasing by 3,000 from the previous 316,000. The real estate and business, hotel, and restaurant industries all registered increases in employment. Gaming registered a decrease.
CHINA PLANS TOURIST DESTINATION NEAR MACAU afp.com
China plans to convert a sparsely populated island next to Macau into an international tourist and technology hub. Officials have revealed that they want the population of Hengqin to go to 200,000 by 2020 from 4,000 today. Commentators have welcomed the move to attract a different type of tourist to the region. Business development manager if architectural firm Arquitectonica, Courtney Davis, was stated as saying, “Unlike Las Vegas, Macau is not a family place. Hengqin could offer other forms of tourism, like theme parks and hiking.”
SANDS TO RAISE $2.5 BILLION IN HONG KONG OFFERING Bloomberg.com
An update on LVS’ IPO has cited documents and emails sent to investors as sources for details on the upcoming listing. Sands’ share sale may be 25% bigger than what president Michael Leven had indicated in July. Pricing of the shares will be fixed on November 19 and trading may start November 30. Documents sent to investors also stated that the company is selling an unspecified number of shares equivalent to a 15% stake in its business in Macau and that the funds will be used to repay loans.
SANDS APARTMENTS ATTRACT INTEREST scmp.com
Las Vegas Sands Corp said its Four Seasons apartments in Macau had drawn interest from Japanese and South Korean buyers. In May, Sheldon Adelson stated that the company was pursuing “public or private” options to boost liquidity and included the sale of the Four Seasons apartment hotel as a possibility. During a conference call last week, Adelson and president Michael Leven indicated that contact has been made with a “number of people in Japan and Korea” regarding a possible deal.