The Macau Metro Monitor, September 15th 2010
SINGAPORE MAY PUNISH CASINOS FOR FREE BUSES FOR LOCALS Reuters
According to Community Development, Youth and Sports Minister, Vivian Balakrishnan, Singapore's two casinos have breached regulations that prohibit promotional activities aimed at locals and may be penalized by the local regulator. "I can't speak for the Casino Regulatory Authority whether they are contemplating any penalties to be imposed. There is a due process. They will make appropriate decisions at the regulatory level. CRA has reminded the IR (integrated resort) operators that they must comply strictly with our rules against casino advertising to locals. CRA will tighten these rules as necessary in the light of experience," Balakrishnan said.
MELCO CROWN EXPECTS BIG REVENUE JUMP IN MACAU Reuters
CEO Ho expects a "big jump" in Q3 and Q4 revenues. Ho believes MPEL's mass and slot market businesses would be ramped up aggressively. Ho added that a membership scheme for its casinos would likely expand from 380,000 to 500,000 members by the end of this year. Ho expects 50% growth in GGR this year and 15-20% growth for 2011.
LAS VEGAS SANDS: NOT SIPHONING PROFITS FROM INDEPENDENT HK UNIT WSJ
Adelson reassured investors the LVS wasn't attempting to siphon revenue from Sands China. "I want Sands China to be as successful as Las Vegas Sands is," he said. "No bank or any investor has ever complained that I've cannibalized, that I've shifted profits from one to the other."
Las Vegas Sands will change its name to Sands International or Sands Resort International at its next board meeting "to reflect more that we're not just in Las Vegas," he said.
LAS VEGAS SANDS CHAIRMAN: NO IMPETUS FOR MARINA BAY SANDS IPO RIGHT NOW WSJ
Adelson doesn't see a MBS IPO any time soon. However, he said there is room to sell the IR's retail mall business operations if needed. Regarding the number of Singaporeans visiting the integrated resort, he estimates less than 1/2 of the visitors to the resort's casino are Singapore citizens or permanent residents, based on the casino's daily list of top winners and losers. In addition, Adelson believes ~10% of all casino income will come from Singaporeans once the facility is fully operational.
PRIVATE HOME SALES SLOW Strait Times
According to URA, Singapore developers sold 1,248 new private homes in August, down from 1,549 units in July but up from the 847 units in June.
