search the site
 daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > City/Metro Compilations

City/Metro Compilations Help report active highrise/urban developments occurring in your city to the global SSC community.



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old January 17th, 2011, 03:15 PM   #161
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

China Star gains up to 20pc upon land deal
11 January 2011
SCMP

Shares in Macau casino investor China Star Entertainment rose as much as 20 per cent yesterday after it agreed to pay HK$550 million cash to Stanley Ho Hung-sun's private Sociedade de Turismo e Diversoes de Macau (STDM) for rights to develop four residential sites in Macau.

China Star, controlled by entertainment mogul and VIP gambling junket investor Charles Heung Wah-keung, said the four sites were independently valued at HK$1.09 billion.

The Macau government granted STDM rights to the sites between 1989 and 1994, when the firm now controlled by Ho, the Fok Ying Tung Foundation, New World Development chairman Cheng Yu-tung and others was still Macau's monopoly casino operator.

STDM, now the controlling shareholder of casino operator SJM Holdings, failed to develop the sites in accordance with the deadlines set in the original land grants, which lapsed more than a decade ago. But China Star said the government had agreed to extend the deadline for the land to be developed to April 2013.

The sites, zoned for residential construction of a combined 60,000 square metres, are located on the Macau peninsula near the Polytechnic Institute and Lotus Square, in the area near China Star's 50 per cent owned Lan Kwai Fong casino hotel.

However, because the four sites are near the historic Guia Lighthouse, the height of any new buildings will be subject to a 2008 Macau government order designed to preserve views of the lighthouse.

As a result, "the final approved constructional floor areas of the sites will differ from those [60,000-plus sq metres]," China Star said.

In addition to building flats on the upper floors, China Star "intends to develop the street level of the sites into an area consisting of restaurants, bars, nightclubs and art galleries in order to create traffic in the surrounding area of Hotel Lan Kwai Fong", the firm said on Friday in a stock exchange announcement.

Macau's Lan Kwai Fong hotel, formerly the Kingsway hotel, opened in 2009 after renovation. Ho is chairman and director of the holding company that owns the hotel property, Lan Kwai Fong (Macau), in which China Star has a 50 per cent stake.

The casino inside the hotel is operated by SJM, and China Star gets a cut of gaming revenue from SJM. China Star booked HK$369.49 million in revenue from its hotel stake in the first six months of last year.

It also receives profit from a high-stakes gambling junket operation inside the Ocho VIP room at SJM's Grand Lisboa casino. The company began writing down its investment in the VIP room after revenue there fell 41 per cent in the first half of last year.

Shares in China Star had been suspended from trading since Christmas Eve pending the announcement. The stock gave up some of its earlier gains yesterday to close at 8.4 HK cents apiece, up 6.3 per cent from its previous close.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote

Sponsored Links
Old January 23rd, 2011, 06:16 PM   #162
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Sands tops market-cap list
18 January 2011
The Las Vegas Review-Journal

Las Vegas Sands Corp. has topped a list of the world's leading gaming companies based on market capitalization.

But the company's Hong Kong-based subsidiary, Sands China, which covers the company's holdings in Macau, ranked third on the list. Las Vegas Sands owns 71 percent of Sands China.

British-based Global Betting & Gaming Consultants compiled the rankings.

Las Vegas Sands' market capitalization of $25.5 billion pointed toward a "remarkable turnaround" for the company, said Warwick Bartlett of Global Betting & Gaming Consultants.

He credited a cash infusion of more than $1 billion by Las Vegas Sands Chairman Sheldon Adelson more than two years ago, which helped the casino operator avoid a potential bankruptcy. He also cited the company's Asian focus, including the opening last year of the $5.5 billion Marina Bay Sands in Singapore.

In Macau, Las Vegas Sands operates The Venetian Macau and Sands Macau and has restarted construction on several hotel-casinos on the Cotai Strip that are expected to open over the next two years and will include some 6,400 rooms.

Shares of Las Vegas Sands have risen from $1.38 on March 9, 2009, to Friday's closing price of $48.07 on the New York Stock Exchange. Las Vegas Sands shares rose 86 cents, or 1.82 percent, Monday to close at $48.07.

Sands China, which is traded on the Hong Kong Stock Exchange, had a market capitalization of $16.7 billion. Singapore's Genting was second behind Las Vegas Sands with a market capitalization of $19.1 billion.

Two other Nevada-based companies ranked in the top 10, which was published by the Financial Times of London. Slot machine giant International Game Technology ranked seventh with a market capitalization of $5.4 billion, while Wynn Resorts Ltd. placed eighth with $5.2 billion in market capitalization.

"The movement within the index reflects the changes in the global economy," Bartlett told the Financial Times. "Asia has recognized gambling is gross domestic product positive and new casinos in Singapore are expected to add 2 percent to their gross domestic product in a few years."

Wynn Macau, a subsidiary of Wynn Resorts, which is traded on the Hong Kong Stock Exchange, had a market capitalization of $12.4 billion and ranked fourth on the list.

Both Sands and Wynn listed large stakes in their Macau holdings on the Hong Kong Stock Exchange in 2009 through initial public offerings. MGM Resorts International has been contemplating a similar move with its 50 percent ownership in the MGM Grand Macau.

Macau casino giant SJM Holdings, which was founded by controversial Hong Kong billionaire Stanley Ho, was fifth in the rankings after the company experienced a 182 percent increase in its share price on the Hong Kong Stock Exchange in 2010.

Bartlett said the rankings used market capitalization figures that were adjusted for the percentage of company's gambling revenues.

Bartlett noted in a statement that the Top 10 didn't include any British-based gambling companies.

"The United Kingdom has gone from leader to laggard in the market and is in danger of losing its source of expertise and intellectual property in this industry," Bartlett said.

In a separate ranking, Global Betting & Gaming Consultants ranked online gaming operators. Software provider Playtech topped the ranking, followed by betting exchange operator Betfair. Two companies that are merging, Austria-based Bwin and United Kingdom's PartyGaming, were third and fourth.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 4th, 2011, 08:29 PM   #163
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

WSJ: Las Vegas Sands Reports 4Q Profit
4 February 2011
Dow Jones News Service

With Macau and Asia booming, Las Vegas Sands (LVS) said it cruised to a fourth-quarter profit Thursday.

The company, in financial turmoil as recently as two years ago, has stormed back based on huge growth in Macau and the opening of a new and successful casino in Singapore that cost $5.5 billion. That occurred even as its once-core business of Las Vegas casinos was on the decline.

Based on increased revenues and expectations abroad, the company's stock has more than tripled in value in the past year. Even Las Vegas showed signs of some improvement in the most recent quarterly results based on purchases of food and beverage and retail, along with less money spent on free giveaways. Nonetheless, room rates continue to drop and casino revenue also was lower than the same time last year.

In Macau, the overall gambling sector revenue rose nearly 60% in 2010.

Yet uncertainty surrounding the company still remains, based, in part, on recent resignations of its two top honchos in Asia operations and restrictions from the government in Macau that could affect future growth plans there.

The most recent departure was Tom Arasi, who had been leading the Singapore casino, Marina Bay Sands. The company is still looking for a replacement.

Chief executive Sheldon Adelson and other executives took pains Thursday in a conference call with analysts to quell concerns, mentioning that the company has also hired a number of top executives and should have a more steady management team after turmoil that reaches back years.

"We're looking at following very steady and predictable, reliable growth pattern," Mr. Adelson said. "Regardless of any bumps in the road we look very, very good."

The company's Marina Bay Sands operations saw revenue climb 15% while operating profit jumped 35% from the previous three months.

Sands China Ltd., which runs the company's properties in Macau, saw revenue jump 13%, while profit more than tripled from the fourth quarter of 2009.

In Macau, the company's $4.1 billion Cotai expansion plans have been delayed because of a shortage of labor imposed by the government. Executives on Thursday said they would be able to hire more workers that have been on another casino project at the end of the month, and is now planning to open that project in phases, due to the restrictions on both construction and operations labor.

The company as a whole reported a profit of $325.5 million, or 34 cents a share, from a loss of $67.4 million, or 17 cents, a year earlier. Excluding items such as debt-retirement costs, impairments on the disposal of assets, and other impacts, earnings rose to 42 cents from 3 cents. Revenue jumped 57% to $2.02 billion.

Mr. Adelson said Thursday the company is resisting the urge that has swept other internationally-focused lodging and casino companies to change their name to reflect a more global outlook. Competitor MGM Resorts International, for example, recently changed its name from MGM Mirage. Competitor Wynn Resorts has even indicated it might, at least symbolically, move headquarters from Las Vegas to Macau to become perceived as a more "Chinese" company.

Yet Mr. Adelson said, his company finds it beneficial to evoke its Las Vegas heritage when dealing with foreign entities.

"It's good to identify with Las Vegas," he said. "We come out of Vegas so Vegas is bringing its style to other countries."
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 10th, 2011, 05:44 PM   #164
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Recent New Residentials



__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 12th, 2011, 03:24 AM   #165
Geography
Registered User
 
Join Date: May 2010
Posts: 447
Likes (Received): 103

Nice apartments! What demographic do they cater to, middle-class, wealthy, super-wealthy?
Geography no está en línea   Reply With Quote
Old February 13th, 2011, 03:57 AM   #166
CoCoMilk
Registered User
 
CoCoMilk's Avatar
 
Join Date: Jul 2009
Posts: 2,578
Likes (Received): 1131

Those are some high quality apartments...
__________________

Highcliff liked this post
CoCoMilk no está en línea   Reply With Quote
Old February 13th, 2011, 04:43 PM   #167
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Quote:
Originally Posted by Geography View Post
Nice apartments! What demographic do they cater to, middle-class, wealthy, super-wealthy?
The new developments nowadays are not likely affordable for the middle class.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 18th, 2011, 08:43 PM   #168
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Strong growth in Macau market to continue, consultant says
9 February 2011
SCMP

Demand for homes in Macau will remain robust this year, with strong economic and employment growth anticipated and interest rates still low, according to Jones Lang LaSalle.

The international property consultant said in a recent report that the residential market in Macau performed well last year, with sales of new and pre-occupied homes rising.

In the first 11 months of last year, 16,035 sale and purchase agreements were made, exceeding the full-year totals for both 2008 and 2009.

In the luxury market, home prices rose 9.6 per cent from a year earlier, and gained as much as 6.2 per cent in the first six months alone. In the mass- and medium-residential market the gains were even bigger, with full-year growth of 17.8 per cent year on year.

On the leasing side, rents for high-end homes rose an average of 4.8 per cent year on year in 2010, while those in the mass- and medium market rose by 10.9 per cent.

Jones Lang LaSalle also highlighted a change in the buyer demographic for homes.

"Local end-users have replaced overseas investors as the major source of demand for Macau's residential properties after the global financial crisis," it said.

Jeff Wong, Jones Lang LaSalle's head of residential in Macau said that before 2008, about one-third of the demand for homes was from foreign investors, but in the past two years that figure had dropped to no more than 10 per cent.

Wong said several new projects were scheduled for completion this year, comprising 2,486 homes.

Last year 3,423 homes were completed.

Notable projects include One Grantai, The Riviera Macau, and Lake View Tower.

Wong said that while the costs of holding property were expected to remain low, providing a favourable environment for residential investment, a drop in the supply of new flats this year and in 2012 would give developers more power to determine prices.

On the leasing side, the property consultant expects that expatriate demand will rebound with the resumption of some construction projects and the opening of new casino resorts.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 21st, 2011, 03:19 PM   #169
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Wynn profit bests analysts' estimates
11 February 2011
The Las Vegas Review-Journal

Wynn Resorts Ltd. on Thursday reported better-than-expected profit and earnings in the fourth quarter, which the casino operator attributed to improving business conditions in Las Vegas and robust growth in Macau.

Las Vegas-based Wynn Resorts earned $114.2 million, or 91 cents a share, in the fourth quarter, a rebound from the loss of $5.2 million, or 4 cents a share, in the same quarter a year ago.

The company said the turnaround in the fourth quarter was the result of revenues increasing 79 percent in Macau, where it opened a new casino in April. Revenues at Wynn's Las Vegas properties increased 8 percent in the quarter.

Excluding items, Wynn Resorts reported profit of 91 cents a share, well above analyst expectations of 65 cents a share. Revenue in the fourth quarter jumped to $1.24 billion, also well above estimates of $1.13 billion.

"I think we had a fine year," said Steve Wynn, founder, chairman and chief executive officer of Wynn Resorts in a conference call late Thursday. "We even did better in Las Vegas. I've been fairly pessimistic in the past ... but indicators are pointing up."

He attributed the improved financial results in Las Vegas to higher room rates, better reservation numbers and increased convention bookings that were expected to reach 20 percent to 22 percent of their total room nights.

For the year ended Dec. 31, Wynn Resorts reported net income of $160.1 million, or $1.30 a share, compared to $20.7 million, or 17 cents a share, for 2009. Analysts surveyed by Yahoo Finance expected earnings of $1.81 a share.

Revenues for 2010 jumped 37.4 percent to $4.18 billion, compared to $3.04 billion in 2009. Analysts had expected revenues of $4.07 billion for the year.

"I think 2011 will be better than 2010," Wynn told analysts. The company's total debt as of Dec. 31 was $3.3 billion, while the company had $1.3 billion in cash.

Wynn said the yearly revenue increase was due to a 59.1 percent jump in Macau and a 5.4 percent increase in Las Vegas.

Joel Simkins, an analyst with Credit Suisse, described Wynn Resorts earnings for the quarter and 2010 as "solid," but was concerned about "expectations" going forward for the company.

"While we continue to be impressed with Wynn's execution in Macau, we remain concerned that expectations for the company have risen tremendously recently, and Macau gaming revenues will begin to face tougher ... comps in coming months," Simkins said. "We believe much of the enthusiasm may be baked into the stock of late, and as a result shares may be under pressure near-term."

Shares of Wynn Resorts fell $1.30, or 1.08 percent, to $118.51 in after-hours trading. They had lost $1.35, or 1.14 percent, to close at $120.15 during Thursday's regular session of the Nasdaq Stock Market.

Wynn remained optimistic about the company's plans for a new casino and hotel on Cotai, a territory off Hong Kong controlled by China. Wynn told analysts he had confirmation that construction could begin in March or April.

"There's no issue on whether we are going to build the hotel," Wynn said, adding that completion of the estimated $2.7 billion project would happen in late 2014 or early 2015.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 27th, 2011, 06:00 AM   #170
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

University of Macao kicks off celebration for 30th anniversary

MACAO, Feb. 19 (Xinhua) -- The University of Macao (UM) on Saturday launched celebrations for its 30th anniversary of founding, and various celebratory, academic and student activities will be held later this year.

During the launching ceremony, guests were invited to each lay a brick on the top of a model foundation to signify the official start of the celebration of the anniversary. This gesture conveys the hope that the university and the community can work together to build a brighter future.

Chui Sai On, chief executive of Macao Special Administrative Region (SAR), said in his speech that the UM had made important efforts and contributions to the prosperity, progress and the enhanced quality of Macao society over the past three decades by producing more than 10,000 graduates with expertise in various fields.

Chui added that the SAR government would continue to support the university and the development of higher education in Macao.

Noting that the new UM campus on the Hengqin island would be completed by the end of 2012, Chui said the SAR government would continue to push forward the construction of the new campus and strive to create a new campus with a rich academic atmosphere so that the UM could have a better environment to attain more educational and academic achievements.

Rector of the UM Zhao Wei said that UM had developed into a comprehensive university with increasing degree of internationalization and it was committed to high-quality education, research and community services for Macao and the world.

More than 90 percent of the Chinese judges, prosecutors and attorneys working in Macao were graduates from the UM's Faculty of Law, while an annual average of approximately 80 percent of graduates from the UM's Faculty of Education found careers in local kindergartens, primary schools and secondary schools during the past decade, according to Zhao.

One of the major celebratory activities for the 30th anniversary, the "UM Open Day" kicked off Saturday and would last two days.

The UM was founded in 1981 as a private institution by the name of University of East Asia. It offers around 100 bachelor's, master's and PhD programs with English being the main medium of instruction through various academic units.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 27th, 2011, 01:37 PM   #171
JayT
Like whatever....
 
JayT's Avatar
 
Join Date: Sep 2002
Location: Tropical Cairns, Queensland Australia
Posts: 9,176
Likes (Received): 999

I'm very interested in Macau, its amazing 400 year history and its great future. Could someone post any links to major Macau development or picture threads.

There doesn't seem to be much information on this amazing city and I can't find much. I would love to see more.
__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FREE WEST PAPUA
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
JayT no está en línea   Reply With Quote
Old February 27th, 2011, 04:38 PM   #172
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Quote:
Originally Posted by JayT View Post
I'm very interested in Macau, its amazing 400 year history and its great future. Could someone post any links to major Macau development or picture threads.

There doesn't seem to be much information on this amazing city and I can't find much. I would love to see more.
For photos, you can check out my website - I just uploaded a large set of new photos from Jan. and Feb.

http://www.globalphotos.org/macau.htm

In terms of development, the key area is the Cotai Strip reclamation where the casinos are being built. Then the next big project is Hengqin Island, a part of China that will be partially developed as a campus for the University of Macau.

Of course, then there is the bridge connecting to HK and Zhuhai ...
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old February 27th, 2011, 10:50 PM   #173
JayT
Like whatever....
 
JayT's Avatar
 
Join Date: Sep 2002
Location: Tropical Cairns, Queensland Australia
Posts: 9,176
Likes (Received): 999

Quote:
Originally Posted by hkskyline View Post
For photos, you can check out my website - I just uploaded a large set of new photos from Jan. and Feb.

http://www.globalphotos.org/macau.htm

In terms of development, the key area is the Cotai Strip reclamation where the casinos are being built. Then the next big project is Hengqin Island, a part of China that will be partially developed as a campus for the University of Macau.

Of course, then there is the bridge connecting to HK and Zhuhai ...
Thanks. I'll check out your photos.
__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FREE WEST PAPUA
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
JayT no está en línea   Reply With Quote
Old March 4th, 2011, 11:40 AM   #174
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Macau light rail project put on hold after Bombardier seeks court injunction
1 February 2011
The Canadian Press

MONTREAL _ The Macau government has put the brakes on the first phase of its light rail transit project after Bombardier Transportation sought a court injunction to block the awarding of a contract to Japanese rival Mitsubishi Heavy Industries.

Published reports in Macau said the head of the transit authority suspended the process until further notice as was required by law.

Bombardier (TSX:BBD.B) confirmed that it and partner China Road and Bridge Corp. filed an injunction in court on Friday seeking to cease all administrative actions related to the contract including blocking the US$586-million contract.

``While reviewing the tender documents of the other bidders we have found several issues that require further investigation,'' Bombardier spokesman Marc Laforge said in an email.

He said the consortium has requested information about the winning bid to make an ``equitable evaluation'' about the proposal.

``Of course, we cannot speculate on the outcome of the procedure, but hope it will be favourable to Bombardier.''

Losing bidders were formally notified about the contract with Mitsubishi on Jan. 7 and had two months to appeal.

A joint venture including German-based Siemens and China Civil Engineering Construction Corp. had also bid on the contract.

Despite the injunction, neither losing bidder has filed an appeal.

The Macau transit authority said it will announce its next step ``in due time,'' but doesn't believe the injunction will have a great impact on the project's full development.

Bombardier's basic bid was $15 million lower than the winning submission, but it was higher when factoring optional work not included in the contract such as a 10-year system maintenance and options for two additional orders, according to Portuguese language newspaper Hoje Macau.

Bombardier had planned to build a railway assembly factory in neighbouring Zhuhai if it was the successful bidder.

Bombardier has a strong presence in nearby Guangzhou in southern China, but this would have been its first in Macau.

On the Toronto Stock Exchange, Bombardier shares closed down four cents to $5.70 in Monday trading.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old March 6th, 2011, 05:31 AM   #175
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Cotai Strip Construction



__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old March 8th, 2011, 12:25 PM   #176
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Money: Where China likes to spend it: Five times bigger than Vegas
Chinese workers are industrious, committed to saving - and willing to gamble enormous sums in the sprawling casinos of Macau
5 March 2011
The Guardian

You won't find the Paiza Mansions on TripAdvisor. You can't even book the world's plushest hotel - it chooses you. The 6,000 sq ft suites (the size of five semi-detached houses) are reached by private elevator, and come with two butlers and a masseur. Yet it costs nothing to stay there. The surprisingly tasteful suites (despite the 60in end-of-bathtub TVs) are completely free. There's just the small matter of a HK$10-15m (pounds 800,000-pounds 1.2m) that invitation-only guests are required to spend downstairs at the casino.

The Paiza Club and Mansions are part of the Macau Venetian, the world's largest casino, and the fifth biggest building on the planet. And every time you buy something with a Made in China label, much of the money eventually ends up here.

Las Vegas is puny in comparison. Chinese punters bet around pounds 70bn on Macau's baize tables (they prefer baccarat) last month alone. This year it could reach pounds 1tn, an almost unimaginably colossal sum. Think of all the cash issued from all the UK's ATMs last year. Then multiply it by five.

Macau's casinos - the Venetian, MGM Grand, Wynn, Sands, Lisboa, and many, many more - skim around 2.5% from punters, giving them net revenues in February alone of HK$19.9bn (pounds 1.6bn). The enormous Galaxy, Hilton, Sheraton and Shangri-la hotels and casinos are still under construction on Macau's new strip, yet the city is already raking in five times more money than Vegas. "Macau is not the Las Vegas of the East - Las Vegas is the Macau of the West," says veteran casino expert Justin Casey of consultants APG. Yet seven years ago there was just one casino on the peninsula.

It's lunchtime on a Tuesday in February, and the skies above the former Portuguese colony are a smoggy grey. The sea is a dirty brown, carrying the effluent of the thousands of factories further up the Pearl River, the world's greatest concentration of industry.

But already the Venetian is half-full with visitors streaming over the border with mainland China. The casino, three times the size of its sister complex in Vegas, cost pounds 2bn to build, and as we walk through acres of baccarat tables, the hospitality manager (he looks after 3,000 bedrooms) tells me the floorspace could accommodate 100 jumbo jets. By the end of the day - a quiet one for the complex - more than 65,000 punters have come through the doors.

When Deng Xiaoping began the post-Mao economic reforms in China, he didn't anticipate this. The country's industrial revolution has spawned literally millions of millionaires. While the factory workers are bussed into the smoke-filled Lisboa (think Brighton Pier, if it stretched to France), the factory owners are helicoptered into the VIP suites. 70% of the money wagered on Macau's tables comes from the wallets of the Chinese super-rich.

But Chinese law forbids its citizens from taking more than 20,000 renminbi (pounds 1,800) over the border. So Macau's billions rest on a very Chinese solution to capital controls.

On the mainland, wealthy punters deposit their money in what are called "junkets," organisations widely believed to be controlled by triad gangs.

Once in Macau, the junkets dispense the money back to individuals, and extend credit, often two to three times the amount originally deposited with them. They bring the VIPs to the casinos, and are paid huge commissions. Back on the mainland, punters who fail to pay up face menacing debt collectors.

In each major casino, the junkets have lavish gaming rooms on private floors reserved solely for their VIP punters, prepared to buy a bare minimum of pounds 20,000 in gaming chips.

The public are not just roped off, few would even know of the existence of the private rooms. A small army of security guards keeps the public far from view, and hundreds of CCTV cameras observe every move. But Guardian Money obtained access to several of the rooms. In the first - and this was a Tuesday afternoon - were around 20 VIPs, mostly male. Every single bet was for a minimum of pounds 1,600. In the evening it would rise to pounds 3,200. A second room was empty. A third junket room had around 40 players, again playing at pounds 1,600 a hand. The thickly-carpeted corridor, the width of a big SUV, stretched hundreds of feet, leading to scores more VIP rooms.

Back on the smoke-filled "mass market" floors, the minimum bets are typically pounds 20- significantly higher than Vegas. But there are no free cocktails or slot machines. There aren't even smiling faces. Gambling here is a serious business.

Why China's industrious workers, the world's greatest savers, will squander it all on baccarat remains a mystery even to China experts. "The Chinese believe in luck. They are willing to gamble a big fraction of their net worth," says gaming analyst Huei Suen Ng of Credit Lyonnais Securities Asia. But she acknowledges that this doesn't quite explain what is going on. "Maybe it's just our culture, maybe it's in our genes," she says.

The other rather less acknowledged factor is money-laundering. The junkets take in Chinese renminbi (which cannot be converted on the world's money exchanges) while the casinos can pay out in dollars. Some critics believe Macau is a gigantic operation for secreting money away from the eyes of the Chinese state. Suitloads of dollars take the short hop from Macau to Hong Kong, much of it pouring into the city's white-hot property market. Even bigger sums are believed to head into offshore tax havens.

The authorities, for now at least, turn a blind eye. The casinos are a huge cash cow for the Chinese state, too, which levies tax at 39%. If Macau gets out of hand, Beijing can turn it into a desert overnight by refusing internal visas to mainland Chinese. But the casino operators think that unlikely - as the money might instead switch to Singapore, away from Chinese control, where two new mega-casinos are already close to matching the whole of Vegas in takings.

Visitors from America or Europe won't be flocking to Macau's polluted shores, and average room rates - close to pounds 160 a night - would in any case deter them. It is a uniquely Chinese place, with hangar-like casinos encircled by Gucci and Louis Vuitton shops. Vegas-style entertainment is thin on the ground, swimming pools are unused, and nightclubs rare. The average Chinese visitor spends 1.6 days in Macau, and uses the time to gamble non-stop. Prostitution is legal, though pimping is not. The daily parade of sex workers in a mall below the Lisboa dubbed "the Race Track" draws organised tour groups with cameras, rather than many real punters.

The Venetian's gondoliers in the miles of fake canals sing Volare, and our chanteuse had even sung in the Sydney Opera House, but makes better money in Macau. A water fountain show in front of the five-star Wynn evokes Vegas, but the backdrop of Chinese casino architecture is so extraordinarily vulgar it makes Vegas look almost charming.

But Brits can make money from the tables of Macau without going anywhere near China. Shares in casino operators are among the most popular investments in many emerging market and China funds - though ethical investors may wish to steer clear of what one of my fellow journalists called the new Sodom and Gomorrah.

Macau's casinos are the world's most profitable - some repay billion-pound construction costs within a year. London-based Neptune Investment Management, which manages more than pounds 100m in its China fund on behalf of British investors, has put around 8% of the fund into shares in Sands, which owns the Venetian, and Wynn.

Back in the Paiza - the word is taken from a Marco Polo story - the suites are strangely quiet despite the hotel's insistence that occupancy rates are 90% or more.

Insiders explain what's happening: VIPs check into the multimillion-pound suites then head straight to the private tables. "Over 48 hours, they will gamble for as much as 46 hours. The suites are used just as washrooms, really."

Patrick Collinson was a guest of Neptune Investment Management in Hong Kong and Macau
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old March 8th, 2011, 01:58 PM   #177
JayT
Like whatever....
 
JayT's Avatar
 
Join Date: Sep 2002
Location: Tropical Cairns, Queensland Australia
Posts: 9,176
Likes (Received): 999


I love it. It's like witnessing the birth of a new city. Right under our noses the story of Macau just gets more interesting.
__________________
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
FREE WEST PAPUA
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
JayT no está en línea   Reply With Quote
Old March 8th, 2011, 05:00 PM   #178
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

Quote:
Originally Posted by JayT View Post

I love it. It's like witnessing the birth of a new city. Right under our noses the story of Macau just gets more interesting.
Yet Macau also has a lot of historical monuments well worth visiting. Mainland authorities have tried to limit visitors going to Macau by restricting the number of visas each person can get over a period of time.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old March 11th, 2011, 09:24 AM   #179
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,257
Likes (Received): 17568

May opening for HK$14.9b Galaxy resort
11 March 2011
South China Morning Post

Macau casino developer Galaxy Entertainment Group will open its HK$14.9 billion Galaxy Macau resort on the Cotai strip on May 15 with 450 gaming tables, raising the stakes against rival operators in the world's biggest casino market.

Galaxy's 2,200-room property is lifting the ante for Sheldon Adelson's Sands China, which is building a 6,000-room, US$4.3 billion casino resort further down the Cotai strip that will also need to contend with the local government's moves to restrict the supply of new gaming tables in the city when it opens - probably sometime next year, depending on the availability of construction workers.

The Macau government has said it will cap the number of gaming tables in operation at 5,500 units until 2013.

The city had 4,791 tables in operation at the end of December, implying the Galaxy and Sands Cotai properties must split the remaining quota of around 700 new tables.

Galaxy, controlled by the family of property and construction materials tycoon Lui Che-woo, said it has capacity to add another 150 gaming tables at its Cotai property for a total of 600.

"We can apply to add more tables in the future," deputy chairman Francis Lui said yesterday, adding the firm will be in full compliance with the table cap.

Executives would not say yesterday how many of the 450 tables at opening will be new, against some to be transferred from the company's four other operating casinos (three are franchised properties and one, StarWorld, is fully owned and operated).

"The 450 units are a combination of existing tables from other properties and new tables," chief financial officer Bob Drake said yesterday. "We will move tables around to maximise the economic advantage out of them."

Executives said around a third of the tables would be reserved for high-stakes VIP gamblers, while the rest would be public tables for mass market customers. The company has already bought a fleet of 70 new shuttle buses to ferry visitors between the Cotai property and Macau's border with Zhuhai.

The property will employ up to 8,000 staff and have a 1,500-room Galaxy branded hotel (700 rooms will be ready on opening day), a 260-room Banyan Tree hotel and a 500-room Hotel Okura.

Galaxy Macau will offer some 50 restaurants and food outlets and a "1930s Shanghai-themed" nightclub, China Rouge.

On the roof of the casino podium is a 52,000 square metre resort deck with a 4,000 square metre wave pool and an artificial beach with 350 tonnes of white sand. A nine-screen, 3-D cinema is scheduled to open later this year.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!

Highcliff liked this post
hkskyline no está en línea   Reply With Quote
Old March 11th, 2011, 01:12 PM   #180
tomaserif
Registered User
 
tomaserif's Avatar
 
Join Date: Sep 2010
Posts: 77
Likes (Received): 60

less words more pics guys..
tomaserif no está en línea   Reply With Quote


Reply

Tags
macau

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 11:07 PM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu