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