Asia News - Page 61

MGM Mirage, which is still awaiting regulatory approval of its Chinese business partner, announced Tuesday it was proceeding with plans for a second casino in Macau under its joint venture agreement.

International News Brief: The competition between Nepal's 'casino king' American Richard D. Tuttle and his former friend and protege Indian businessman Rakesh Wadhwa continues with a new battle breaking out.

International News Brief: Chinese gambling revenue in Macau has topped that of the Las Vegas Strip and will more than double again by 2010, the president and chief operating officer of Las Vegas Sands Corp. predicted on Monday.

MGM Grand Paradise, a 50/50 joint venture between MGM Mirage and Pansy Ho Chiu-king, has been engaged in discussions with the Government of Macau S.A.R. concerning the development of its second major resort project in Macau.

International News Brief: Thousands of gamblers jammed into a new casino Sunday owned by a local billionaire who's trying to fend off an invasion by Las Vegas tycoons who have been gobbling up market share in the booming Chinese territory of Macau.

International News Brief: World Cup corruption police have been put on red alert after another betting scandal rocked world cricket yesterday.

International News Brief: Backed by growing economic affluence, Asia has room for eight to 10 Las Vegas-style strips offering gaming and entertainment facilities, US casino tycoon Sheldon Adelson said yesterday.

Las Vegas Sands Corp. formally broke ground on a $3.6 billion Marina Bay Sands on Thursday on the island-nation of Singapore, but company officials said construction costs might rise.

Singapore’s Minister for National Development and senior executives of Las Vegas Sands will mark the rising of the LVS Singapore integrated resort project onsite with guests and media.

News Brief: The Malaysian Court of Appeal will hear today an application by two foreign casinos to recover the RM7.1mil gambling debts owed by former Sabah Chief Minister Datuk Seri Osu Sukam.

International News Brief: Hong Leong group's Tan Sri Quek Leng Chan has grabbed 25 of the 89 casino licences awarded in Britain in the past two years.

Nevada gaming regulators have tentatively set Feb. 27 for a public hearing in Las Vegas to determine the suitability of MGM Mirage's partnership in an under-construction $1 billion hotel-casino in Macau.

International News Brief: Genting International plc has increased its investment in the joint venture Resorts World At Sentosa Pte Ltd.

PGMI, Inc. reports the grand opening of the newly completed Gyoda store in the Saitama Prefecture.

International News Brief: Richard Branson's Virgin Group is in talks with Australian wagering firm Tabcorp Holdings Ltd. and other firms on developing a 1.5 billion pound casino in Macau, sources familiar with the matter said Monday.

International News Brief: Sir Richard Branson's Virgin Group is close to securing a 20-hectare site in Macau to build a $3 billion casino complex which could add to the city's rise as the world's gambling capital, a newspaper reported on Friday.

nternational News Brief: Singapore's government is questioning a tie-up between Genting International, which won one of the two casino licences in the city-state, and casino mogul Stanley Ho.

Asian gaming analysts said Tuesday Macau's gambling win of $6.95 billion during 2006 means the Chinese enclave as surpassed the Strip as the world's largest gaming market.

International News Brief: Gaming and gambling activities in Macau posted gross revenues of US$6.985 billion in 2006, a rise of 22 percent against the figures for 2005, according to the Gaming Inspection and Coordination Bureau.

The Singapore government last year asked CB Richard Ellis Executive Vice President John Knott and his Global Gaming Group team to affix values to the two land parcels the city-state proposed as casino destinations.