The Macau Metro Monitor, August 3rd, 2010
THREE COTAI CASINOS AWAITING LAND GRANTS Macau Daily Times
Committee for Land and Public Concession Affairs President, Kwan Tsui Hang, said one project, which MDT believes to be Wynn's, involving a land area of 200,000 square metres, has already begun construction on a 5-star hotel, a casino and a convention and exhibition centre. But according to MDT, the construction at that site has yet to start. At present, Wynn has only put up the fences encircling the area next to City of Dreams. The applications for the other two development projects, which were submitted respectively in 2006 and 2007, both involve 70,000 square metres of land intended for the construction of a hotel and a casino. Kwan mentioned that the Government explained that the delays were caused by “technical changes” and “constant adjustments in the development projects.
The three land applications will likely be approved as long as the development does not “violate the contractual commitments”, Kwan told reporters. “To know which gaming operators they are isn’t the most important. What we need to make sure is that the Government policies won’t give preference to the gaming companies anymore and that the fourth land application [of this kind] won’t appear in the future,” she stressed.
Meanwhile, Secretary Lau told the committee that the revision of the law that governs land leases (known as “Land Law”) will “hopefully” be sent to the Legislative Assembly in 2012.
GAMING REVENUE UP 70% macaubusiness.com
July GGR reached MOP16.3 billion (US$2 billion), up 70.4% according to DICJ. Market share is as follows: Sands 19%, Melco 14.8%, SJM 32%, Wynn 15%, Galaxy just over 12%, and MGM 7%.
NEW LENDING MAY REACH 700B YUAN IN JULY China Daily
China's new loans are expected to reach 700 billion yuan in July, according to Shanghai Securities News, citing an industry insider. According to the insider, yuan-denominated loans by China's big-four banks, Construction Bank of China, Bank of China, Industrial and Commercial Bank of China and Agricultural Bank of China, totaled 243 billion yuan, a 78 billion-yuan increase from that of June. These loans account for 27.3% of all new loans, and extrapolating that number would result in 700 billion yuan new loans.
PROPERTY SALES TRANSACTION IS LOOKING OPTIMISTIC DURING THE 2Q OF 2010 Macau Daily News
According to the Managing director of Centaline Property Agent in Macau, total property sales transaction in July was around 300, of which most of the sales transaction was made by the last 10 days before the end of July. The sales figure was not as encouraging as compared to HK's. It is anticipated that total volume of the sales transactions should continue to grow during August up to the end of this year.