Macau
Wynn Macau Cautions Casino Contractor For Compensation Up to $200 Million Over Construction Delay
Wynn Palace, an under construction casino, is widely expected to attract Chinese consumers and thus transform Macau to a popular tourist region. The casino project has been expected to be completed by June 25 followed by a revision on deadline. But work progress seems to be slow and the contractor for the $4.1 billion project is probably going the miss the extended time frame further. Steve Wynn, founder of Wynn Macau Ltd. has sent a letter to the construction company cautioning to count compensation up to $200 million if it fails to meet the revised deadline.
Analysts Predict Higher Demand for Macau Gaming Next 10 years, Leading to Las Vegas Sands' Macau Hotel Operations Growth
There are different factors than can lead to the significant growth of Las Vegas Sands' Macau Hotel Operations, including the higher demand for gaming in the next 10 years.
Macau court finds billionaire Joseph Lau guilty of corruption
Joseph Lau, the Hong Kong billionaire tycoon Chairman and CEO of Chinese Estates Holdings, was sentenced to five years in jail for bribery and money laundering, Reuters reported.
Cheng Yu-tung's International Entertainment Corp to pay HK$7.35B for Macau's Sun City Gaming Promotion Co
International Entertainment Corp said it would be acquiring a 70% stake in Macau gambling junket operator Sun City Gaming Promotion Co for HK$7.35 billion, Bloomberg reported.
