Asia News - Page 60

MGM Mirage has signed a definitive agreement with Mubadala Development Company, an investment and development vehicle established and wholly owned by the Government of the Emirate of Abu Dhabi, U.A.E.

International News Brief: Macao says it has overtaken the Las Vegas Strip as the world's biggest casino draw, raking in more than $7 billion in 2006.

MGM Mirage has signed a definitive agreement with the Diaoyutai State Guesthouse in Beijing, People's Republic of China aimed at creating a strategic relationship to pursue non-gaming business opportunities.

International News Brief: Publishing & Broadcasting Ltd's Asian casino joint venture has played down fears the construction of its $2.1 billion City of Dreams complex in Macao has got off to a rocky start, after reporting a $73.5 million full-year loss.

The organizers of Global Gaming Expo Asia report a sold-out show floor and an 80 percent increase in exhibitor participation.

Las Vegas Sands Corp., the National Basketball Association and the Chinese Basketball Association reports that The Venetian Macao will serve as the host of the first NBA event to be played in Macao.

International News Brief: Genting International said on late on March 27 it would buy sister firm Star Cruises's 25% stake in their joint Singapore casino project for S$255 million.

Nevada gaming commissioners said they had questions and concerns going into Friday's suitability hearing on the relationship between MGM Mirage and its Chinese business partner in a $1.1 billion casino under construction in Macau.

International News Brief: Officials are studying the possibility of ending the ban on casinos to boost the tourism industry, a Council for Economic Planning and Development spokeswoman said yesterday.

nternational News Brief: Wynn Resorts said it is pursuing investment opportunities in the Philippines, one of which is a hotel casino similar to its Macau facility.

While regulators hope Las Vegas-based casino operators will help flush out corrupt influences in the Chinese gambling enclave of Macau, they're not holding their breath.

It has come to the attention of Shun Tak Holdings Limited than third parties are using the Shun Tak name as part of a scam.

International News Brief: Costs at James Packer's Macau casino business have blown out by another $90 million over the past three months as the joint venture between PBL and Melco battles delays on the construction of the Crown Macau.

International News Brief: The Home Affairs Ministry reiterates that casino operators in Singapore's two integrated resorts will have to clear suitability checks.

Melco PBL Entertainment reports its Crown Macau Hotel Casino is targeted to complete construction and open on a trial basis on April 28, 2007.

Ten to 20 percent profits at Las Vegas casinos have nothing on Macau, where Las Vegas Sands has come to expect 100 percent returns.

An upstate New York-based citizens coalition plans to continue its opposition to MGM Mirage's joint Macau casino venture with Chinese businesswoman Pansy Ho.

International News Brief: Genting International said sister firm Star Cruises would withdraw from a $3.4 billion Singapore casino venture, leaving the gaming company in full control.

nternational News Brief: Ten ferries are to be added to the Macau-Hong Kong route as more casino projects are under construction in Macau.

Las Vegas Sands Corp., Starwood Hotels & Resorts Worldwide, Inc. and Shangri La Hotels and Resorts today celebrated the progress being made on the Cotai Strip in the People's Republic of China Special Administrative Region of Macau.