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The Macau Metro Monitor, June 7th, 2010


VISA TO LET UNIONPAY BE USED IN BOTH SAR'S Macau Daily Times, Intelligence Macau

Visa Inc. will allow Unionpay cards in Macau and Hong Kong.  According to IM, merchants and banks prefer Unionpay to be the facilitator of cross-border payments and currency movements for Macau.  Unionpay's influence in Macau could grow if it increases its transfer amounts between the mainland and the concessionaires (and junkets), which would reduce the influence of middlemen and loan sharks.

EDMUND HO GAVE CONDITIONAL 'YES' TO LVS APARTMENT SELLING: SHELDON ADELSON Macau Business

During the Sanford C. Bernstein Decisions Conference, CEO Adelson said that Edumund Ho "made a commitment to us that, if we started parcels 5 and 6 and if we did an IPO, then for sure we could sell [the Four Seasons apartment hotel as] strata condos..But now the old regime is out and a new is in.”  According to Adelson, there are already several Japanese customers interested in buying a units there although. 

Adelson continues to deny that there is a labor shortage at sites 5 and 6, despite the new government restrictions on employing foreign workers.  He added that,  “we are not employing the labor directly, except, perhaps for the locals.  The laborers are being brought in by the contractors and subcontractors; they are responsible for getting the labor."

Adelson was also explicit that his goal for LVS is “to get the value of the company back to where we were when we were at the highest point” before the global financial crisis.

Good luck Sheldon...