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CR62-p20-World4:SJC-Casino Review 25/11/07 01:14 Page 1
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Melco PBL Entertainment has costs of $US160m in the third Indonesian politicians have expressed their wish to
reported a $US45.2m loss for the quarter and posted revenues of develop Indonesia’s first casino on an island an hour-
three months to September 30 $US113m. It plans to boost Bintan long ferry ride from Singapore. Bintan island’s local
which was its first full quarter since earnings and market share in the
hopes to
government hope a casino would raise the island’s
the Crown Macau casino opened its New Year by signing up a VIP junket
follow
annual income tenfold to $US132m. Bintan district’s
doors. Analysts had expected the business to lure cashed-up deputy chief Mastur Taher said only foreign tourists
Melco PBL down
company to break even in the gamblers to tables from the middle
Singapore
and non-Muslims would be allowed into the casino
$45.2m
quarter. The joint venture, which is of December. which is envisaged to be part of a 2,000 hectare
37 per cent owned by PBL, incurred tourist development.
MGM’s first foray into Abu Dhabi has been described as an iconic gateway to the
Melco PBL
Middle East. With the iconic gaming giant unable to offer its main speciality the
intention is clearly to build bridges towards brand recognition.
facing delays
over land
approval
landahoy The SEC filing says Ao’s
MACAU role in approving land
grants was temporarily
The approval of a land overseen by Macau’s chief
deal for Melco PBL executive Edmund Ho
Entertainment’s biggest before being given to a
Macau casino project, new minister in March.
the City of Dreams, could “The Macau government
face delays following a has granted us a lease for
corruption court case a plot of land for Crown
involving the public Macau and has offered to
MGM Grand Abu Dhabi to
works secretary who grant us a lease for the
approved land deals in development rights for two
Macau up until his arrest adjacent land parcels in
enter the Muslim world
last December. Cotai for the City of
The region’s largest Dreams site,” Melco PBL
ever corruption case stated. “However, we have
kicked off last month with yet to receive either a
its former transport and formal grant of a land
crossmarket world-renowned expertise of skyline’ and ‘stunning “in their backyard,” Aziz said. public works secretary Ao concession or an
UNITED ARAB EMIRATES MGM Mirage in design, devel- panoramic views of the water- “They will get the experi- Man Long appearing on 76 occupancy permit for the
opment and operation of excit- front,’ the companies said. ence they will look for, charges including bribery, City of Dreams site.”
US operator MGM Mirage is ing destination resorts.We are The MGM Grand Abu Dhabi extraordinary entertainment, money laundering and the PBL and Melco also
moving into the Muslim world thrilled that our first project is the first project of MGM great spas, a great retail expe- abuse of power. He is want to apply for a larger
by lending its financial muscle with Mubadala will create a Mirage Hospitality, a firm MGM rience, great restaurants and accused of gaining more casino site in the City of
and resort expertise to a destination and icon for Abu Mirage set up to develop non- nightclubs,” he said. than $US100m from Dreams project than
US$3bn non-gambling hotel Dhabi. We see tremendous gambling hotels and resorts Abu Dhabi is witnessing dishonest dealings in his originally agreed. “We
resort in Abu Dhabi with that potential for this development around the world. Aziz said some of the most extensive seven years in office, cannot predict whether
government’s development and we are confident that this the group is looking for other real estate and hospitality including taking bribes for Ao’s removal and
firm, Mubadala Development. will be the first of many suc- sites to develop. developments in the world as approving land deals for prosecution and any
Although there will be no cessful ventures with our Whilst gambling, which is part of the overall tourism several developers. further investigations or
gambling, analysts see the move Mubadala partners.” illegal in the region, won’t be strategy for the Emirate. Cur- In a filing with the US prosecutions will adversely
as an excellent way to build the It will also feature an arena on the menu, alcohol will be rently under development are Securities and Exchange affect the functioning of
brand in the Middle East and with up to 12,000 seats, retail served throughout the world-class attractions includ- Commission, Melco PBL the Macau Land, Public
allow MGM to expand its data- shops and restaurants, water- complex, but some Las Vegas ing the Guggenheim Abu Esaid it had not received Works and Transports
base of customers and cross- front residences and private offerings, such as the Crazy Dhabi and the Louvre Abu final approval for the land Bureau or any approvals
market them to other venues. yacht berths, said Gamal Aziz, Horse Paris topless revue at Dhabi on Saadiyat Island, as deal for the $US2.3bn or land concession grants
The property, which is president of MGM Mirage MGM Grand, will not be in well as leading hotels and City of Dreams project on that are pending before
expected to open in 2012, Hospitality, an MGM Mirage the entertainment mix. world-class attractions on Yas Macau’s Cotai strip. it,” the filing says.
will span 50 acres on a down- subsidiary. “We will introduce our prod- Island, the new home of the
town waterfront site on Abu The arena will host regional ucts and services with com- Formula 1 Grand Prix.
Dhabi Island, and will consist performers along with Western plete understanding and
of an MGM Grand hotel and acts that often appear at MGM respect for the local and the MGM Mirage and Pansy
two other MGM branded Mirage’s casino properties in regional culture,” Aziz said. “We Ho, daughter of billionaire
luxury hotels with more than Las Vegas such as headline pop don’t have to enforce or display Stanley Ho, have confirmed
1,200 rooms. stars and Cirque du Soleil. what’s successful in Las Vegas that their joint venture’s first
Terry Lanni, chairman and MGM Mirage will develop in order for us to succeed.” casino in Macau will open
CEO of MGM Mirage said: “This and manage the project for a Demand is high among inter- on December 18. The MGM
magnificent development will fee while Mubadala will own national visitors to Las Vegas for Grand Macau will have 600
leverage the capital resources it. The property, aimed at the the mix of luxury hotel rooms, rooms, suites and villas and
and asset management profi- high-end market, will have nightlife and entertainment 375 gambling tables and
ciency of Mubadala with the ‘unparalleled views of the city that MGM Mirage plans to offer cost around US$1.25bn.
Macau to raise
minimum gambling age
ageofconsent the age of 21 will not face redun- possible drop in business for her
MACAU dancy if the new rule is imposed, as a company.
three-year grace period is envisaged. She said she did not think it would
Macau is planning to raise the Angela Leong On-kei, a director of create unemployment among young
minimum age for gamblers from 18 casino operator Sociedade de people as there were many other job
to 21, according to chief executive Turismo e Diversões de Macau and opportunities in the city.
Edmund Ho Hau-wah, who warned it fourth wife of Macau gambling impre- Ho also urged casino companies
was impossible to let gambling sario Stanley Ho, welcomed the plan to provide information and coun-
expand infinitely, ‘otherwise social in principle and said it would help selling hotlines for problem gam-
costs will mount.’ improve Macau’s image and be bene- blers, saying: “This is not hard to do
Casino workers currently under ficial to the whole industry despite a and is achievable in a short time.”
20 December 2007 worldnews
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