July 23, 2008With the stunning views over the Macau peninsula, the Crown Macau’s infinity-edge swimming pool has been selected as 10 Best Hotel Swimming Pools by US Forbes Traveler. Crown Macau is the only hotel in Macau that has been selected, along with other luxury hotels including Chile’s San Alfonso Del Mar resort and Las Vegas’ Mandalay Bay Hotel etc.
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July 23, 2008Macau visitor arrivals in June 2008 totalled 2,343,451, a year-on-year increase of 22.0%. Visitors from Mainland China (1,358,912), Hong Kong (622,290) and Southeast Asia (128,058) rose by 36.6%, 0.6% and 42.3% respectively. Same-day visitors took up 53.1% of the total visitor arrivals, at 1,245,403.
The majority of the visitors came from Mainland China, Hong Kong and Southeast Asia, which accounted for 58.0%, 26.6% and 5.5% of the total respectively. In view of the tightening of the Individual Visit Scheme, 490,727 Mainland visitors travelled to Macao under such policy in June, representing 36.1% of the visitor arrivals from Mainland China.
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July 23, 2008Gaming and gambling activities in Macau posted record gross revenues of 59.264 billion patacas (US$7.408 billion) in the first half of the year, or 70.6 percent of the total revenues posted in 2007. In 2007 total revenues for the gaming and gambling sector were 83.847 billion patacas (US$10.480 million).
The second quarter, with revenues of 29.179 billion patacas, saw a fall of 1 billion patacas against the first quarter, when revenues totalled 30.085 billion patacas. Gambling revenues, which account for 99 percent of the entire gaming sector, in the first half totalled 58.708 billion patacas.
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July 22, 2008The Global Human Rights Torch Relay was disrupted by Macau authorities on the weekend and five arrests were made, which were described as unwarranted by organizers.
The Global Human Rights Torch relay commenced in Athens on August 8 2007 to raise awareness of China’s human rights crimes in the lead up to the 2008 Olympics in Beijing.
Posted in Economy & Business, Macau Government, Macau News, Social and Politics No Comments »
July 22, 2008Each year the Macao International Music Festival brings internationally renowned artists from all over the world to Macao. Over the course of its decades-long history, it has gradually evolved into the major musical event in the territory. The MIMF seeks to promote a balanced range of performances in order to reflect the diversity and uniqueness of Macao. It also strives to enrich the cultural life of the region while meeting the expectations and aspirations of the community. This year’s programme embraces opera, symphonic, choral and chamber music, as well as contemporary, folk, pop and jazz music. Also offered is yet another dynamic encounter between East and West.
Headlining and opening the programme of the 22nd MIMF is a British orchestra with worldwide renown. The Royal Philharmonic Orchestra (RPO) has been for more than half a century “Britain’s national orchestra” and has upheld the vision of its founder, Sir Thomas Beecham, bringing world-class performances of the greatest music ever written to a growing public, both at home and on its many tours across the globe. On their maiden voyage to Macao, the musicians of the RPO are led by renowned Principal Guest Conductor Leonard Slatkin (5/10, at the Macao Cultural Centre Grand Auditorium, 8pm).
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July 20, 2008The big firms were on hand Wednesday to see through the off-again-on-again Hong Kong listing of Macau gaming magnate Stanley Ho’s SJM Holdings. Baker & McKenzie was retained as lead counsel for SJM with Linklaters and Shearman & Sterling Hong Kong and US counsel respectively for underwriters Deutsche Bank AG.
The float comes after a tumultuous few months for casino operator SJM in which its stock market debut was both postponed and downgraded. Market volatility, increased competition from US casino operators Las Vegas Sands and Wynn Resorts, and legal action brought by Ho’s estranged sister challenging the validity of the offer all contributed to delays and were also influential in derailing earlier forecasts that the IPO would raise US$1bn. Instead, this series of unfortunate events saw JSM settle for less than half of that, raising only US$494m.
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June 28, 2008Sociedade de Jogos de Macau (SJM), the largest casino operator in Macau, started bookbuilding yesterday for an IPO that aims to bring in between HK$3.85 billion and HK$5.1 billion ($494 million and $654 million). If the deal is completed, it will be the third largest IPO in Hong Kong this year after China Railway Construction Corporation and Want Want China Holdings.
However, SJM has trimmed its expectations quite significantly since its most recent attempt to go public in January when it was testing the market for a deal of up to $1 billion.
Posted in STDM | SJM, Stanley Ho, Venetian Macao, Winnie Ho No Comments »
June 7, 2008Encouraged by the rapid gaming growth in Macau, neighbouring countries are lining up to try and cash in on the Asian appetite for wagering while experts predict casinos already operating in the region are likely to be hit by the new developments.
At the G2E Asia gaming conference presentations were given on no less than seven [...]
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