THE M3: COTAIJET, GALAXY FINANCING, ZHEJIANG-MACAU WEEK

The Macau Metro Monitor.  January 14th, 2009.


COTAIJET RECEIVES NEW LICENSE AND PERMISSION FOR ADDITIONAL ROUTES money.cnn.com

Sands China announced today that its Cotai Strip CotaiJet ferry operation has been issues a license to operate between Macau and Hong Kong for another ten years.  The license also increases the number of routes the CotaiJet service can use, including the addition of several daily roundtrip sailings between the Hong Kong International Airport and the Taipa Ferry Terminal – which is located minutes from the company’s properties on the Cotai Strip.

It is expected by LVS executives that the new routes and increase in capacity from Hong Kong to Macau will facilitate growth of the meetings, incentive, convention, and exhibition business.  Steve Jacobs, CEO of Sands China LTD., said that the company would work as fast as possible to have the new routes up and running.

 

GALAXY TO FINALIZE COTAI PROJECT FUNDING WITHIN 30 DAYS wsj.com

Casino operator Galaxy Entertainment Group LTD. will finalize a plan to complete the financing for its HK$14.1 billion flagship resort in Macau within 30 days, according to CFO Robert Drake.  The funding plan will cover the remainder of Galaxy’ financing needs for the Cotai project.  Details of the funding are yet to emerge.  Drake said that the company is on track to open the resort in the first quarter of next year. 


ZHEJIANG PROVINCE SEEKS ECONOMIC COOPERATION WITH MACAU macaunews.com.mo

The 2010 Macau-Zhejiang Week began on Wednesday with an aim of deepening the economic ties between China’s Zhejian province and Macau.  During the event, a series of economic and trade cooperation agreements will be signed.  With its experience and infrastructure, Macau will be an important platform through which Zhejiang products can enter the world market, said Gong Zheng, vice governor of Zhejiang province.

Statistics from the Zhejiang provincial government showed that the trade volume between Macau and Zhejiang reached 11.18 million U.S. dollars during the first eight months of last year, down by 49% year-over-year, with Zhejiang’s export to Macau standing at 136,400 dollars.