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Tidbits from our guy on the ground in Macau

WYNN:

  • Expectations are high for Wynn Encore both inside and outside the company
  • Wynn Macau is under roomed so Encore will be hugely additive
  • Details and timing on Wynn Cotai are scarce.  If there is any announcement it would be at the opening of Wynn Encore

MPEL:

  • Mass ramp continues at City of Dreams (CoD)
  • VIP is struggling at CoD - turnover less than Altira
  • Whispers are surfacing that CoD is pushing up commissions despite agreement with Venetian to hold rate

LVS:

  • Sale of Four Seasons residences seem likely
  • Politics could complicate matters as Macau Chief Executive is under pressure to build more affordable housing
  • Real estate developers will not be happy if LVS is allowed to sell apartments on Cotai