THE M3: STARWORLD AND MACAU REAL ESTATE

The Macau Metro Monitor. November 20th, 2009.


STARWORLD VIP ROOM TO CHANGE HANDS destination-macau.com

A press release from Asia Properties Inc., a Nevada-registered company listed on the Over-The-Counter exchange in the US, has revealed that an agreement has been reached for them to buy a majority share in the “casino VIP club” from Sing Hou.  DM had thought that these VIP rooms were operated by one of Macau six concessionaires and that gaming promoters, licensed by the DICJ, were remunerated by the concessionaires for bringing in customers. 

There is obviously a host of regulatory questions surrounding the ownership of a VIP room in Macau by a listed company that is not licensed as a gaming operator in either Nevada or Macau.  While some VIP rooms in Macau operate “cages” within their rooms, so the concessionaire does not know who it is that is playing, regulators have not yet acted.  DM wonders if a US-listed VIP room operator might be treated differently. 

REAL ESTATE AND CONSTRUCTION ON THE RISE AGAIN macaudailytimes.com.mo

After a slow second quarter, the real estate market seems to be back on track with sale and purchase results from the third quarter this year rising considerably.  According to information released by the Statistics and Census Service, 5,345 building units were purchased and sold at MOP8.98 billion in the third quarter – up by 44% and 96.3% sequentially quarter-over-quarter.  The majority, 3,681, were residential units amounting to MOP7.66 billion – up by 61.7% and 103.5% quarter-over-quarter.