78 gaming
Galaxy appoints new COO Local casino staff protected
Galaxy Entertainment Group has appointed Dealers and front-line employees in Macau are now
Michael Mecca as its new president and chief required to use name tags so that non-locals can be
operating officer. The new COO, who replaces distinguished from local ones.The government says the
David Banks, developed his career in gaming move is a way to protect jobs for locals and is being
and hospitality brands and most recently was implemented by all six licensed gaming operators. Under
president and CEO of planet Hollywood, las government regulations, only locals can work as dealers
Vegas. as president and COO with the group, in casinos, which has helped a large number of locals with
Mecca will have overall responsibility for the low education get decently paid jobs. The name-tag move
performance and growth of StarWorld Hotel came as civil groups demanded more job protection from
and Casino, Galaxy Macau resort and the government who has announced it will cut the quota
the Waldo, rio, president and Grand for immigrant workers at each casino and expand the job
Waldo casinos. limitation on casino dealers to supervisors. Official figures
show the gaming sector employs more than 32,000 local
Losses at Melco
and non-local people.
Melco international Development ltd made a net loss of HK$2.35 billion
in 2008, compared to a net after-tax profit of HK$2.67 billion in 2007.
City of Dreams reveals
according to the company report, approximately HK$1.86 billion of the
losses were attributable to non-cash and non-operational write-offs
main attraction
arising from the reversal of accounting gains booked in previous years. City of Dreams is scheduled to open later this summer
Excluding non-cash and non-operating items, the group’s operational and it is already announcing a unique multimedia
losses fell from approximately HK$600 million in 2007 to approximately entertainment experience as one of its main attractions. The
HK$491 million in 2008, representing an improvement of approximately integrated entertainment resort developed by Melco Crown
18 percent. in 2007, non-cash and non-operational accounting gains Entertainment, will offer its visitors the “Dragon´s Treasure”,
amounted to approximately HK$3.27 billion. The performance of the a 10 minute multi-media experience that combines high-
group’s gaming business in Macau, operated through 37.8percent- definition video content, a sweeping musical score, over
owned Melco Crown Entertainment ltd (“MpEl”), improved 29,000 theatrical lED lights, and a variety of sensory
substantially, according to a company statement. MpEl delivered an effects to create a stirring multi-media extravaganza.
attributable profit to the group of approximately HK$33.1 million versus The interactive show will be staged at The Bubble(TM),
an attributable loss of approximately HK$525.6 million in 2007. City a dome-shaped theatre. “Dragon´s Treasure” has been
of Dreams, the flagship property of MpEl, is scheduled to open in early created incorporating eastern philosophy and Chinese
June and is expected to significantly boost the group’s market share mythology and is a creation of Falcon’s Treehouse llC,
in Macau. a US entertainment group.
april 2009
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