News INTERNATIONAL UPDATE Wynn secures Cotai resort
Wynn Macau receives historic approval for its next major expansion on the Cotai Strip
Gaming developer Steve Wynn’s Chinese entity Wynn Macau has received approval for a 51-acre casino resort in Cotai, to be developed on land behind City of Dreams.
The project, the cost of which has been pitched between US$3.5 to $4bn, will include a 2,000-room hotel and a 1,750- seat theatre. Steve Wynn said: "We will remain consistent to the history of our organisation by bringing to life a hotel resort in Cotai that will mark a new standard of elegance in the world. We have to make this hotel on Cotai, in every sense of the word, irresistible to the guests. And that's an expensive assignment to undertake. It will be the single most important project in the history of Wynn Resorts.”
The most recent government figures showed that gambling revenues for the territory rose 22 per cent in April to $3.13bn, helped by the opening of a second casino owned by Sheldon Adelson’s Sands China.
The approval has been seen as a major positive signal that the Macau government is also likely to relax its table
Fuente Mayor plan
a ‘vineyard’ casino Fuente Mayor Hotel and Resort, a four star resort Tunuyán, in the heart of Uco Valley, Argentina, has opened the region’s first boutique casino to be housed in a hotel. Located in Vista Flores, on the eastern border of Mendoza Province in Argentina, an area renowned for ripening high quality vineyards. The casino has opened with 80 slots and tables offering roulette, blackjack and poker. It is believed to be the first casino in Latin America to try and combine the appeal of gaming with the attraction of the vineyards.
The Commercial Director of the property Marcelo Rossental described the casino as being cosier than other casinos in the province with a greater emphasis on live gaming. He pointed to the great influx of affluent Brazilians to the area as being key to the casino’s business model.
June 2012 PAGE 14
“The long-awaited land concession
paves the way for what will be the single most
important project in the history of Wynn Resorts.”
STEVE WYNN.
Analysts now believe that pent-up demand in the market in Macau is strong enough to support multiple openings over the next few years. Predictions currently estimate that Macau will increase to 8,100 gaming tables by 2020, compared with 5,700 currently.
Okada takes US action against Wynn Resorts
Casino billionaires Kazuo Okada and Steve Wynn have clashed in the courts again. Mr. Okada’s attorneys have gone back to the Nevada state court in the hopes of prying financial information and other records from Wynn.
The Clark County District Court in Las Vegas has been asked for a second time by Okada attorneys to require Wynn’s company Wynn Resorts Ltd. to turn over information about Wynn’s efforts between 2000 and 2002 to gain a gaming license in Macau.
Okada’s latest legal initiative is part of a suit filed in January by Okada, a Wynn board member. The suit also sought information about Wynn Resorts’ Macau unit pledging a US$135m gift to the University of Macau. That suit suggested improprieties with the pledge, suggestions denied by Wynn Resorts.
That suit was followed by Wynn Resorts accusing Okada
in a separate lawsuit of wrongdoing for providing benefits to Filipino regulators while he was trying to win a license in the Philippines.
That suit, initially filed in state court in Las Vegas, was moved to federal court, where Okada hit Wynn with counterclaims. Wynn Resorts has since redeemed Okada’s $2.7bn in Wynn shares at a discount for a $1.936bn, 10- year note. Wynn also had Okada removed from the board of Chinese subsidiary Wynn Macau Ltd. and now is trying to remove him from the board of parent company Wynn Resorts.
The recent legal filings in the state court case follow rejection of most of Okada’s document demands in March. The judge at that time ordered Wynn to turn over just two pages of information to Okada that it had not previously supplied him, saying Okada’s requests for information about Wynn lobbying in Macau were “overboard.”
cap from 5,700 tables as new projects on the Cotai strip get the go-ahead.
Hotel occupancy in Macau's key casino properties is running at 96 to 99 per cent. During peak hours, it was increasingly typical for all of the VIP tables to be occupied and most of the mass market tables to be busy as well.
The Macau government was believed to be slowing approvals for new projects because of concerns about labour shortages in the territory. As unemployment fell to two per cent, however, the government has relaxed its policy on foreign workers.
EL OPERADOR ESPAÑOL CODERE Group se dispone a construir un nuevo establecimiento en Bogotá denominado «Casino Royal» por un importe de 10 mil- lones de dólares estadounidenses. El Presidente de Codere Colombia, Diego Navarro Reyes, confirmó que el operador está cambiando su foco de acción para pasar de operar pequeñas salas de máquinas tragaperras a introducirse en el ámbito de las salas de juego exclusivas. La confianza de Codere en Colombia se ha visto estimulada por la intención declarada del Gobierno local de empren- der una ofensiva contra los operadores libres de impuestos.
EL CONSEJO DE LA IGT HA HECHO pública una declaración donde se procla- ma su respaldo unánime a la Directora Ejecutiva, Patti Hart, tras las alegaciones en torno a su presunta falsificación de credenciales académicas ante el Consejo de Administración de la empresa online Yahoo. En la declaración del Presidente de la empresa, Philip Satre, se indica que IGT no ha encontrado incoherencia material alguna en las credenciales académicas de Hart, y además se expresa «un apoyo incondicional a su liderazgo y al rumbo directivo que ha fijado para IGT».
JCM GLOBAL HA ANUNCIADO QUE HA culminado su adquisición del 49 por cien- to de Nanoptix. Según este acuerdo, JCM y Nanoptix unirán sus fuerzas desde el punto de vista del capital accionarial para ofrecer tanto equipos de validación de bil- letes como impresoras. «Nuestra inversión inicial se ha revelado como muy exitosa y rentable, y es una gran satisfacción para nosotros invertir en el futuro mediante esta adquisición», afirmó el Presidente Global de JCM, Aki Isoi.
EL GRUPO DE JUEGO DE CAPITAL privado Gala Coral ha confirmado que se dispone a vender su negocio de casinos al operador británico de bingos y casinos Rank por un valor de 205 millones de libras esterlinas. Este acuerdo convertirá a Rank en el mayor operador británico de casinos, y en él se incluye la compra de 23 casinos ubicados en el Reino Unido y la concesión a Rank de tres licencias no operativas.
EL GIGANTE ESTADOUNIDENSE DE LOS casinos MGM Resorts ha afirmado su deseo de llevar adelante el casino cuya construcción se está debatiendo actual- mente en Toronto, y alega que su inten- ción es crear en la ciudad canadiense un centro recreativo glamuroso al estilo Las Vegas.
LOS PLANES PARA CONSTRUIR EN Foxborough un casino estilo resort valo- rado en 1000 millones de dólares han sido postergados a consecuencia de las victorias decisivas de los candidatos políti- cos anti-casino en las elecciones munici- pales celebradas el mes pasado. El anun- cio realizado por The Kraft Group y Wynn Resorts se produjo solo un día después de que los votantes de Foxborough eligieran dos candidatos al consistorio municipal que habían expresado clara- mente su oposición al inicio de las nego- ciaciones con el empresario Steve Wynn.
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52