THE M3: SANDS' PLANNED SALE OF ASSETS--$12 BN; MORE MBS COMMENTARY; SANDS REWARDS CLUB; COTAI;

The Macau Metro Monitor, April 28th, 2010

 

SANDS' SALE OF MACAU PROPERTY MAY RAISE $12 BILLION Bloomberg

CEO Adelson said the planned sale of assets including the Four Season apartments, shopping areas in the Venetian Macau casino resort and in the Four Seasons hotel, and St. Regis condos (under construction) may raise as much as $12 billion and recoup their construction costs. “It will be like $12 billion if we add up all the apartments and all the retail in Macau, including those in buildings still under construction," he said. The company may start selling the Macau assets within 2.5 years, he said.

 

MARINA BAY SANDS REVENUE 'WON'T EXCEED' MACAU'S Macau Daily Times

During the MBS opening, Adelson said that the revenue from Singapore “will be between the Macau and Las Vegas figures”, according to Bloomberg.  According to Reuters, Adelson said the Singapore casino will provide credit to selected gamblers rather than rely on junket operators as is the practice in Macau. Feedback from junket operators indicates most of them are not keen to operate in Singapore because of the disclosure requirements demanded of them by authorities, said Sheldon. “We don’t have junket reps in Las Vegas,” said Adelson. “It’s not a system that is seen worldwide. It’s uniquely Asian and primarily in Macau.” Adelson said his company will “seriously deal with the Macau government’s statement concerning the restriction on the number of local gaming tables”, the Chinese Wall Street Journal reported.

 

SANDS CHINA LAUNCHES REWARDS CLUB macaubusiness.com

Sands China has launched its new lifestyle rewards club for its three properties in Macau which already has over 500,000 members. The company says Sands Rewards Club will offer a range of unprecedented benefits and services, and give back its members HK$1.5 billion in rewards. Kevin Clayton, Executive Vice President of Marketing Operations for Venetian Macau said: ''Sands Rewards Club will be one of Asia’s biggest and best rewards programs, giving customers more ways to earn and redeem points across all three of our properties and more rewards than other programs in Asia.'' Members can enjoy discounts on dining and shopping; suite upgrades, shopping vouchers, casino credits, entertainment tickets, invitations to casino events and special promotions, CotaiJet tickets, exclusive access to lounges and VIP areas and priority service at every property, among other options.

 

COTAI FOR ALL macaubusiness.com

All gaming companies in Macau will be allowed to have a footprint in Cotai, according to an unnamed source quoted by the Portuguese-language daily Jornal Tribuna de Macau. The source added that the government will keep the promises made to the gaming operators. Jornal Tribuna de Macau says that the decision to allow all gaming operators to expand to Cotai will not clash with the government’s cap on the number of gaming tables at 5,500 since the cap is valid only until 2013.


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