The Macau Metro Monitor, June 15th, 2010
NO APPLICATION FROM WYNN YET: FRANCIS TAM macaubusiness.com
Secretary Tam said Wynn Macau hasn’t yet presented any application for the new gaming tables the company expects to include in its Cotai project. Tam stressed that no applications for gaming tables will be accepted before 2013; he added that any acceptance of gaming tables applications after March 2013 will depend on the development of the local gaming sector at that time.
Contacted by Macau Daily Post, a spokesperson for Wynn Macau said: “We continue to work with the Macau government and take their direction with respect to a Wynn development on Cotai, and all necessary applications will be made as and when required."
JUNE NUMBERS LOOKING HOT STILL Intelligence Macau
IM reported MOP 6bn for gaming revenues as of June 13, which is on track to hit MOP13.8bn for the month. IM stressed that weekly and daily revenue numbers are quite volatile and do not reflect ebitda gains very accurately (except at SJM).
PROPERTY MARKET COOLS AS 1,078 NEW HOMES SOLD IN MAY Channel NewsAsia
The number of new private homes sold in Singapore fell ~50% sequentially in May. According to the Urban Redevelopment Authority, home transactions declined across all segments in May.
NEW CASINO SET FOR BAVET The Phnom Penh Post
In July, Hong Kong-based Borey Samsoun Company plans to begin building The Samsoun Casino and Resort, a new US$4 million casino in Bavet town, located 1 km from the Vietnamese border. The proposed development is expected to take three years to complete.
As for the sector outlook, the Ministry of Economy and Finance’s chief of Casino Management Chrun Theravath said that many firms are waiting for further signs of revival before beginning construction on planned developments. There are 27 licensed casinos presently operating in Cambodia. Two new casinos have already opened their doors in the Kingdom this year, with $100 million Titan King Resort and Casino beginning operation in Bavet City and the Top Diamond Casino launching in Kirivong district, Takeo province.